Amazon and Netflix are among firms slated to report earnings this week.
Heading into another big week for earnings season, the three major stock market indexes climbed nearly 1% Monday morning after House Speaker Nancy Pelosi (D-Calif.) added urgency to stimulus negotiations over the weekend amid a startling surge in coronavirus cases domestically. Despite surging coronavirus cases domestically and the lack of additional fiscal relief, the stock market is « benefiting from the success of a couple handfuls of primarily technology stocks that are benefiting enormously from the pandemic. Think Facebook, Netflix, Google and Microsoft, » said Moody’s Analytics Chief Economist Mark Zandi in a weekend note, adding that the pandemic is also concentrating market share into bigger companies (many of which trade on stock exchanges) at the expense of small businesses.
