US Stocks Advance on Earnings Momentum Ahead of CPI Reading
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS equities notched modest gains Monday as strong earnings reports spurred bullish Wall Street strategists to raise their targets on the S&P 500 this year despite lingering concerns about the duration of the Iran war ahead of a key inflation reading.
The S&P 500 ended the session 0.2% higher in New York, paring gains as oil prices ticked higher after US President Donald Trump called Iran’s response to his proposal to end the war “totally unacceptable” and said the ceasefire agreement was on life support. Energy was the top-performing sector in the market. The tech-heavy Nasdaq 100 rose 0.3% while the Dow Jones Industrial Average ended the day up 0.2%.