The stock market rose on Monday, with the Dow Jones Industrial Average up by 0.2% and the S&P 500 remaining flat. The Nasdaq composite also saw a 0.15% increase in early trading.
Among the U.S. exchange traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) ETF showed a slight increase, while the SPDR S&P 500 ETF (SPY) remained unchanged. The 10-year Treasury yield slightly decreased to 4.25%, and oil prices fell by 0.2% to around $76.30 a barrel.
Warren Buffett’s Berkshire Hathaway reported a significant increase in operating profit for the fourth quarter, largely attributed to insurance underwriting and investment income. Berkshire stock eventually declined by 0.5% on Monday.
Key economic data is expected this week, including consumer confidence, retail inventories, and the purchasing managers’ manufacturing index. The Personal Consumption Expenditures Price Index data is also highly anticipated, which could provide insight into future Federal Reserve interest rates.
New home sales saw a slight increase in January, falling below expectations. Additionally, the Dallas Fed Manufacturing Survey is set to release at 10:30 a.m. ET, tracking factory activity in Texas.
Earnings reports to watch this week include companies like Domino’s Pizza, Li Auto, Dell, Hewlett Packard Enterprise, eBay, and Salesforce.com.
The stock market rallied on Friday, with the Dow Jones Industrial Average rising by 0.2%, while the S&P 500 edged up slightly. However, the Nasdaq composite fell by 0.3%.
Procter & Gamble and Dow were among the stocks that showed positive movement, with Procter shares up by 0.1% and Dow stocks entering buy range after a flat base.
Additionally, prominent companies like Birkenstock, Lennar, Toll Brothers, and SharkNinja saw promising movement, breaking out past key buy points. Newsletter MarketDiem offers actionable ideas for stocks, options, and crypto.
Notable stocks to watch include Novo Nordisk, Merck, DraftKings, and Spotify, all showing potential for gains based on buy points and patterns.
Nvidia and Tesla were among the top-performing stocks on Monday, rising by 1.1% and 2.9%, respectively. Apple and Microsoft experienced slight decreases but remained in a strong position for potential growth.
