The stock market showed signs of stabilizing on Monday after an initial rise, with the Dow Jones, S&P 500, and Nasdaq all edging up following Iran’s attack on Israel over the weekend. Tesla, however, experienced a decline in its stock price after announcing significant layoffs.
Goldman Sachs posted strong earnings results, causing its stock to rise, while Apple faced a slight dip due to a decrease in iPhone sales. Salesforce.com also saw a drop in its stock value amidst rumors of a potential takeover. Meanwhile, Charles Schwab reported positive earnings.
Retail sales numbers for March exceeded expectations, indicating a strong consumer demand. The New York Fed’s Empire State Manufacturing Index showed improvement but remained below expectations. Last week, the stock market experienced losses, particularly on fears related to the Iran-Israel conflict. However, the Nasdaq managed to hold up relatively well.
In terms of commodities, copper prices rose following new sanctions on Russian exports. The 10-year Treasury yield hit a 2024 high, while crude oil prices slightly declined.
Overall, the stock market rally has been retreating, with major indices like the Nasdaq, S&P 500, and Dow Jones all experiencing losses last week. The 10-year Treasury yield also continued to rise, reaching its highest level in years. Tesla’s decision to cut jobs and halt Cybertruck deliveries affected its stock performance, while Apple struggled with declining iPhone sales. Salesforce.com’s potential acquisition of Informatica also impacted its stock value.
Nvidia was a bright spot in Monday’s trading, edging up slightly. The company’s stock rebounded from recent lows, and it currently has a new flat base with a potential buy point. Investors should continue to monitor these developments in the stock market as they seek potential investment opportunities.
