Wall Street started the week soaring on Monday, with both the S&P 500 and Dow Jones Industrial Average hitting new records as tech and pharmaceutical gains buoyed the market.
- S&P 500: 5,859.85 ⬆️ up 0.77%
- Nasdaq Composite: 18,502.69 ⬆️ up 0.87%
- Dow Jones Industrial Average: 43,065.22 ⬆️ up 0.47%
- STOXX Europe 600: 524.76 ⬆️ up 0.53%
- FTSE 100: 8,292.66 ⬆️ up 0.47%
- SSE Composite: 3,284.32 ⬆️ up 2.07%
- Bitcoin: $63,126.50 ⬆️ up 0.48%
U.S.: Record rally continues as stocks climb
Both the S&P 500 and Dow Jones Industrial Average closed at new records Monday, with the S&P 500 finishing 0.77% higher and the Dow rising 0.47%. The Nasdaq didn’t break its record but ended near its last high, closing up 0.87%. The gains were supported by jumps in Nvidia, up 2.43%; Longboard Pharmaceuticals Inc., up 71.13%; and SoFi Technologies, up 11.43%.
Europe: Shares rise slightly on China stimulus and tech gains
Markets opened mixed on Monday, but advanced in the afternoon, closing up on rallies in U.S. and Chinese markets. Still, luxury stocks with major exposure to China slipped, with LVMH, Hermès and Kering all dropping more than 2%. The Stoxx Europe 600 was up 0.53%, and the FTSE 100 added 0.47%.
China: Shares rise on stimulus news despite lack of details
Shanghai’s SSE Composite rose 2.07% after Finance Minister Lan Fo’an said in a Saturday briefing that there was “ample room” in the budget for more spending and that other policy tools that were “being discussed” but offered no specifics on stimulus measures or how large they would be. China also reported trade numbers, with exports in dollar terms growing 2.4% annually in September and imports expanding 0.3%—both below expectations. Hong Kong’s Hang Seng slid 0.75%.
And earnings season continues…
hotlink]Goldman Sachs[/hotlink], Bank of America and Citigroup all show their numbers Tuesday; Morgan Stanley reports Wednesday; Netflix has its turn Thursday; and Friday features P&G and American Express.