Though technology firms continue to rally, stocks are mixed ahead of a big week for market data, with blockbuster earnings set to roll in from the likes of Apple, Tesla and Facebook, but sky-high valuations could put a damper on sentiment.... [+]Shortly after the market open, the Dow Jones Industrial Average was down 195 points, or 0.6%, and the S&P 500 was virtually flat while the tech-heavy Nasdaq jumped about 0.9%.
The morning's biggest gainers are embattled firms rallying on news of secured financing, with Express, which is up 116% this morning, continuing a recent surge sparked by a $140 million deal earlier this month and AMC Entertainment soaring nearly 40% upon theAmong those heading up losses in the Dow, shares of Merck are down 1.2% after the drugmaker said it'sits Covid-19 vaccine candidate program due to"inferior" immune responses yielded during clinical trials.
Kicking off a busy week of earnings, shares of mining company Cleveland-Cliffs are up 5% following preannounced fourth-quarter revenues and income of $2.2 billion and about $285 million, respectively, well surpassing analyst expectations, while manufacturing company Kimberly Clark is up about 1.5% after reporting earnings that also beat expectations.
Cyclical stocks, meanwhile, are leading losses in the S&P, with energy firms TechnipFMC and Westrock down 4% and 3%, respectively, while the nation's largest cruiseliner, Carnival, falls about 2.5%. Stocks were also mixed globally, with Japan's Nikkei 225 ending the day up 0.7%, while the United Kingdom's FTSE 100 drops 1.2% and Germany's DAX Index sheds 1.7%"Stock markets off to a mixed start ahead of a fascinating week marked by major tech earnings and a Federal Reserve meeting," Oanda Senior Market Analyst Craig Erlam said Monday morning.
Who know what will come next!
How are things with the capitol now?
Only God knows the future
'Frothy' or just the usual plain 'rabid'?
the perfect storm is coming