Stock market news today: Investors brace for slew of corporate earnings

The strong session on Monday extends big gains from Friday as investors assess a stream of corporate news and earnings results.

About 25% of companies in the S&P 500 are set to report fourth-quarter results this week. Of the 57 companies that have already reported results so far, 67% beat profit estimates by a median of 5%, while 67% beat revenue estimates by a median of 2%, according to data from Fundstrat.saying it plans to cut 6% of its workforce, or about 600 employees. The job cuts from Spotify are after Amazon, Alphabet, Salesforce, and Microsoft all cut jobs in recent weeks.

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