Stocks Plummet to Start Week

Stocks eased below breakeven soon after Monday’s open, ahead of a busy week of earnings reports from technology’s heaviest hitters.

The Dow Jones Industrials stepped back 91.65 points to open the week’s first session at 34,969.90, after four straight days of gains

The S&P 500 slid 4.59 points to 4,407.20

The NASDAQ gained 16.17 points to 14,853.16.

One of the busiest weeks of earnings reports is on deck, with Tesla kicking it off after the closing bell. Last week, CEO Elon Musk said the automaker would likely start accepting bitcoin for vehicle purchases again.

Big tech giants Apple, Alphabet and Microsoft are all set to report on Tuesday, and Google, Facebook, and Amazon will also report later in the week.

The second-quarter reporting season has been stronger than expected, providing a support for equities as they climb back into record-high territory. So far, 88% of S&P 500 companies have reported … Read more

Stocks Climb to Record After Strong Week

U.S. equities rose Friday with the major averages hitting new records as they overcame concerns about economic growth from earlier in the week.

The Dow Jones Industrials leaped 238.20 points to close the day and the week at 35,061.55, gaining for a fourth-straight day.

The S&P 500 grabbed 44.31points, or 1%, to 4,411.79, for a close above the high set on July 12.

The NASDAQ galloped 152.39 points, or 1%, to 14,836.99.

Strong earnings from tech stocks made investors optimistic ahead of reports next week from the biggest names in the sector. Twitter and Snap each jumped Thursday following better-than-expected second-quarter earnings reports. Twitter traded 3% higher, while Snap shot up 24%.

Facebook gained more than 5.5% on the results from its social media competitors. Alphabet added 3.5%. Both report next week along with Apple, Microsoft and Amazon.

The stock market overall has been bolstered by a strong earnings reporting … Read more

Inflation in Canada, U.S. Durable Goods Due Next Week



Economic Lookahead

New Home Sales (June)

Featured Earnings

Tesla Inc. (NASDAQ:TSLA) (Q2) EPS projected for 52 cents, compared to 10 cents in the prior-year quarter.

Lockheed Martin Corporation (NYSE:LMT) (Q2) EPS projected for $6.51, compared to $6.13 in the prior-year quarter.

Cadence Design Systems, Inc. (NASDAQ: CDNS) (Q2) EPS projected for 59 cents, compared to 47 cents in the prior-year quarter

Otis Worldwide Corporation (NYSE: OTIS) (Q2) EPS projected for 71 cents, compared to 56 cents in the prior-year quarter.


Featured Earnings

Celestica Inc. (T.CLS) (Q2) EPS projected for 30 cents, compared to 27 cents in the prior-year quarter.

Copper Mountain Mining Corporation (T.CMMC) (Q2) EPS projected for 15 cents, compared to 16 cents in the prior-year quarter.

TFI International Inc. (T.TFII) (Q2) EPS projected for one dollar, compared to 77 cents in the prior-year quarter.



Economic Lookahead

Durable Goods (June)

S&P Case Shiller … Read more