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US open: Stocks sharply higher as investors await Q3 earnings

Mon 28 October 2024 14:58 | A A A

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(Sharecast News) - Wall Street stocks were in the green early on Monday as market participants prepared for a week jam-packed with Q3 earnings.

As of 1530 GMT, the Dow Jones Industrial Average was up 0.74% at 42,426.81, while the S&P 500 advanced 0.45% to 5,834.15 and the Nasdaq Composite came out the gate 0.53% firmer at 18,615.96.

The Dow opened 312.41 points higher on Monday, reversing losses recorded in the previous session as the blue-chip index snapped a six-week winning streak.

Earnings will again be in focus this week as five of the so-called "Magnificent Seven" will report quarterly numbers before the week is out, with figures due from Alphabet, Microsoft, Meta Platforms, Amazon and Apple.

Both 5 November's presidential election and news that weekend airstrikes by Israel against Iran had not targeted oil or nuclear facilities as initially feared will also draw an amount of investor attention this week.

The yield on the benchmark 10-year Treasury note was also higher at the open, up more than two basis points at 4.27%, while its two-year counterpart was up one basis point at 4.133%.

On the macro front, the Dallas Federal Reserve's manufacturing index rose to -3 in October, up from -9 in September, pointing to a mild contraction in the ongoing sequence of negative readings that started in May 2022. The production index shot up 18 points to +14.6, its highest reading in more than two years.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

3M Co. (MMM) $130.07 4.26%

Walgreens Boots Alliance, Inc. (WBA) $9.46 2.19%

Intel Corp. (INTC) $23.13 1.98%

McDonald's Corp. (MCD) $297.77 1.76%

Salesforce.Com Inc. (CRM) $294.13 1.42%

Home Depot Inc. (HD) $404.46 1.39%

Goldman Sachs Group Inc. (GS) $519.63 1.37%

Apple Inc. (AAPL) $234.24 1.22%

Caterpillar Inc. (CAT) $390.46 1.16%

American Express Co. (AXP) $270.40 1.14%

Dow Jones - Fallers

Boeing Co. (BA) $153.52 -0.96%

International Business Machines Corporation (CDI) (IBM) $213.36 -0.61%

Chevron Corp. (CVX) $150.12 -0.46%

Cisco Systems Inc. (CSCO) $55.54 -0.35%

Dowdupont Inc. (DWDP) $0.00 0.00%

Coca-Cola Co. (KO) $66.95 0.04%

Dow Chemical Co. (DOW) $49.73 0.06%

Merck & Co. Inc. (MRK) $104.09 0.11%

Unitedhealth Group Inc. (UNH) $565.59 0.18%

Walmart Inc. (WMT) $82.85 0.41%

S&P 500 - Risers

Albemarle Corp. (ALB) $98.97 5.84%

Estee Lauder Co. Inc. (EL) $91.34 4.69%

Carnival Corp. (CCL) $21.83 4.40%

3M Co. (MMM) $130.07 4.26%

Delta Airlines Inc. (DAL) $56.38 4.18%

Hanesbrands Inc. (HBI) $7.24 4.17%

American Airlines Group (AAL) $13.74 4.14%

Bread Financial Holdings, Inc. (BFH) $51.24 3.78%

Genuine Parts Co. (GPC) $118.54 3.76%

United Airlines Holdings Inc (UAL) $77.39 3.68%

S&P 500 - Fallers

Centene Corp. (CNC) $61.76 -3.82%

Apache Corp. (APA) $23.88 -3.79%

Helmerich & Payne Inc. (HP) $33.43 -3.07%

Diamondback Energy Inc. (FANG) $179.18 -2.82%

FMC Technologies Inc. (FTI) $25.97 -1.93%

Resmed Inc. (RMD) $251.17 -1.91%

Halliburton Co. (HAL) $27.75 -1.75%

Hasbro Inc (HAS) $65.32 -1.65%

General Electric Co. (GE) $176.43 -1.49%

Occidental Petroleum Corp. (OXY) $50.82 -1.47%

Nasdaq 100 - Risers

Trip.com Group Limited (TCOM) $65.06 5.19%

Baidu Inc. (BIDU) $94.04 4.73%

American Airlines Group (AAL) $13.74 4.52%

JD.com, Inc. (JD) $41.66 4.41%

Paypal Holdings Inc (PYPL) $83.48 2.18%

Qurate Retail Inc. (QRTEA) $0.55 2.14%

Walgreens Boots Alliance, Inc. (WBA) $9.45 2.05%

DENTSPLY Sirona Inc. (XRAY) $23.78 2.02%

Sirius XM Holdings Inc (SIRI) $26.93 2.01%

Intel Corp. (INTC) $23.11 1.90%

Nasdaq 100 - Fallers

Hasbro Inc (HAS) $65.32 -1.65%

Lam Research Corp. (LRCX) $76.61 -1.38%

Cadence Design Systems Inc. (CDNS) $254.18 -1.21%

Seagate Technology Plc (STX) $101.99 -0.99%

Western Digital Corp. (WDC) $68.76 -0.99%

Micron Technology Inc. (MU) $107.19 -0.67%

Monster Beverage Corp (MNST) $53.03 -0.64%

Synopsys Inc. (SNPS) $498.78 -0.56%

Expedia Group Inc. (EXPE) $157.57 -0.52%

Cisco Systems Inc. (CSCO) $55.49 -0.44%

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