The US stock market rebounded on Monday as concerns over the fallout from Iran’s attack on Israel eased, allowing investors to focus on earnings season and inflation risks. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all saw gains, with the S&P 500 adding roughly 0.8% and the Dow Jones moving up about 0.8%.
One of the key drivers of the market’s positive momentum was Goldman Sachs, which reported a strong first-quarter profit that beat estimates. The bank’s shares rose more than 5%, setting a positive tone for the rest of the week’s earnings reports.
Oil prices fell about 1% following Iran’s air strike, alleviating concerns of a supply disruption. Retail sales also saw a boost in March, increasing by 0.7%, higher than economists’ expectations of a 0.4% increase.
In other news, Salesforce is reportedly nearing a deal to acquire data management company Informatica for $11 billion, causing both stocks to trend on Yahoo Finance. Citigroup is also keeping an eye on chipmakers Nvidia and Intel, expecting positive catalysts for both companies in the near future.
As the market continues to navigate geopolitical risks, such as the conflict between Iran and Israel, analysts are urging investors to stay vigilant and connect the dots to understand the potential impact on global markets. With oil prices potentially reaching $100 a barrel, central banks may face a dilemma in balancing growth and inflation concerns.
Overall, the market’s resilience in the face of geopolitical tensions and economic uncertainties demonstrates investors’ confidence in the underlying strength of the US economy. Stay tuned for more updates as the week progresses.
