US stocks opened higher on Monday, attempting to rebound from their worst week of the year as investors braced for a flood of corporate earnings. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all showed gains as the market rally faced a critical week ahead.
Tech stocks, in particular, are looking to recover after lackluster earnings from Netflix dragged on the market already grappling with geopolitical tensions. The focus is now on Big Tech earnings later in the week from companies like Meta, Microsoft, and Alphabet to reignite the market.
Tesla, a key player in the tech sector, made headlines as the EV maker cut prices in multiple countries, causing its shares to fall roughly 2% on Monday morning. Investors are eagerly awaiting Tesla’s quarterly results on Tuesday to see how the company’s recent decisions will impact its performance.
Meanwhile, the debate over the Federal Reserve’s stance on rate cuts continued to rumble, with minds already turning toward Friday’s release of the PCE index to assess whether rates will stay higher for longer.
In the midst of these developments, Nvidia shares rebounded 3% on Monday, leading a recovery in Big Tech stocks after a steep decline on Friday. The broader market attempted to recover from last week’s losses, with the S&P 500 rising 0.5% in an effort to snap a six-day losing streak.
As the market navigates through a critical week of earnings reports and economic data, investors are closely watching how the tech sector will perform and whether the recent market volatility will continue. Stay tuned for more updates as the week progresses.
