U.S. stock indexes are rising, and trading seems to be calmer following last week’s roller-coaster ride.
U.S. stock indexes are rising Monday, and trading seems to be calmer following last week’s roller-coaster ride.
The S&P 500 climbed 0.7% in early trading and got back within 1% of its all-time high set earlier this month. The Dow Jones Industrial Average was up 208 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.9% higher.
Stocks of smaller and midsized banks drifted higher, recovering some of their losses after a couple raised alarm bells last week by warning about potentially bad loans they’ve made. That raised questions about whether the growing list of problems is just a collection of one-offs or a signal of something larger threatening the entire industry.
Zions Bancorp. rose 1% following its 5.1% drop last week. It will report its latest quarterly earnings after trading ends for the day, and scrutiny will be high after it said it’s charging off $50 million of loans where it found “apparent misrepresentations and contractual defaults” by the borrowers.
This will be a heavier week for corporate earnings reports generally. Big names delivering their latest results will include Coca-Cola on Tuesday, Tesla on Wednesday and Procter & Gamble on Friday.
The pressure is on companies to show that their profits are growing because they need to justify the big gains their stock prices have made.
