Wall Street rises to record highs
Wall Street’s major indexes edged higher Monday to record highs ahead of earnings reports this week from tech titans like Apple, Amazon and Alphabet. Keeping the market in check: caution ahead of a Federal Reserve policy meeting starting Tuesday.
The prospects for strong earnings offset concerns over the potential market impact of the COVID-19 Delta variant.
Kramer Capital Research Chief Investment Officer Hilary Kramer:
“Everyone is optimistic today as we wait for good news to come from earnings reports. This will be a strong week in the market.”
The Dow and S&P 500 gained a quarter percent, while the Nasdaq closed flat. Cryptocurrencies extended their rebound.
Bitcoin jumped around 13% to briefly poke above $40,000. A British newspaper cited an un-named insider as saying Amazon is looking to accept bitcoin payments by year-end.
Shares of Hasbro jumped over 12% after the toymaker posted a 54% jump in quarterly revenue. The stock was the top gainer on the S&P.
Tesla shares rose in after-hours trading. The electric vehicle maker posted quarterly revenue that nearly doubled and beat analysts’ expectations despite being impacted by a shortage of chips and raw materials.
