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Wall Street stocks rose on Monday after a strong start to the week with earnings and economic data, but markets are also keeping an eye on the final stretch of the U.S. presidential election.
Analysts said falling oil prices were supporting stock prices even as U.S. Treasury yields rose.
“This is a continuation of the good economic news,” said Kurt Spieler, chief investment officer at FNBO, noting that profits have generally increased so far and expectations for further U.S. monetary easing. .
The Dow Jones Industrial Average rose 0.7% to end at 42,387.57.
The broad-based S&P 500 index rose 0.3% to 4,823.52, and the tech-heavy Nasdaq Composite Index rose 0.3% to 18,567.78.
The market will be watching the earnings reports this week from big tech companies like Apple, Amazon and Facebook’s parent company Meta.
Other companies reporting results include McDonald’s, ExxonMobil, and Pfizer.
This week, the US government is scheduled to release third quarter GDP growth estimates and a monthly labor market report, and the relationship with the central bank’s interest rate policy is attracting attention.
Among individual companies, the stock price of airline giant Boeing Co., Ltd., which announced a stock offering expected to raise up to $19 billion, fell 2.8%.
Boeing reported a steep quarterly loss last week and is reeling from worker strikes.
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