- US stocks traded higher early Monday as investors look to wrap up a strong month of gains.
- All three indices rose by at least 3% in July, amid cooling inflation and a strong earnings season.
US equities rose on Monday morning as investors looked to finish off a month of ample gains, driven by strong earnings and cooling inflation.
So far in July, the S&P 500 rose 3%, while the Nasdaq Composite climbed 3.8%. The Dow Jones Industrial Average, which enjoyed a 13-day winning streak this month, gained 3.1%.
More earnings are coming this week, with tech giants Apple and Amazon set to publish results on Thursday.
Meanwhile, as Wall Street starts to gain more confidence in a soft landing for the economy, the Labor Department will release monthly payroll data on Friday.
Here's where US indexes stood shortly at the 9:30 a.m. ET opening bell on Monday:
- S&P 500: 4,587.08, up 0.11%
- Dow Jones Industrial Average: 35,476.94, up 0.05% (17.65 points)
- Nasdaq Composite: 14,355.12, up 0.27%
Here's what else is happening this morning:
- The stock market's fear gauge has dropped to a 42-month low. It's left Boaz Weinstein wondering why investors aren't more concerned.
- A boom in the secondary market for luxury watches has reverted to a two-year low amid the Fed's fight with inflation.
- The 60/40 portfolio is set for a comeback, as valuations point to improved outlooks.
- The inverted yield curve doesn't guarantee a recession, Ed Yardeni told Insider.
In commodities, bonds and crypto:
- West Texas Intermediate crude oil moved up 1.21% to $81.41 per barrel. Brent crude, oil's international benchmark, climbed 1.03% to $85.59.
- Gold edged up 0.08% to $1,959.63 per ounce.
- The yield on the 10-year Treasury declined 1 basis point to 3.959%.
- Bitcoin rose 0.49% to $29,460.82.