U.S. stocks rose sharply in early trading Monday ahead of key corporate earnings reports this week, including several closely watched technology companies.
The Dow Jones Industrial Average rose 468.46 points, or 1.58%, to 30,103.29.
The S&P 500 rose 87.82 points, or 2.45%, to 3,670.89, and the Nasdaq
Composite was up 315.56 points, or 3.06%, to 10,636.95.
Netflix (NFLX), Tesla (TSLA) and IBM (IBM) are each scheduled to report
quarterly earnings this week. So are Johnson & Johnson (JNJ), United Airlines
(UAL), AT&T (T) and Verizon (VZ).
Stocks traded wildly last week and closed three of the five trading days mostly
down, hitting some new lows for the major indexes. Analysts see more volatility ahead.
“The 200-week moving average is a serious floor of support until
companies fully confess or a recession officially arrives, both of which
could take several more months and lead to a technical rally in the short
term,” Morgan Stanley’s Mike Wilson said in a note to clients on