Market wraps mixed; S&P setting new records
S&P opened the week with a slight edge, recording a new record high which was slightly above the previous one.
Stock market session ended mixed this Monday, with S&P squeezing out a new record, while the Dow slipping down a bit. NASDAQ moved ahead with their Monday earnings, stepping ahead of the other two. With the first quarter corporate earnings reports to be released, a busy week ahead is expected by experts.
Majority of the companies that had their reports released exceeded expectations, mostly affected by the successful vaccine development and rollout enabling economic recovery. More than 80% of companies under S&P have shared their Q1 results, surprising everyone with a positive earnings per share.
On the other hand, traders are still watching out for the report released last week about Biden administration changing capital tax rates for wealthy individuals, which has driven the market session last Thursday down the drain.
For the benchmark equities' futures, the Dow and S&P futures are staying slightly below the red line, ranging from 0.01% to 0.09% away. Meanwhile, NASDAQ futures are drifting further ahead with 0.04% advantage above the green line.
The Dow Jones Industrial Average dropped by more than 60 points or 0.18% at 33,982. This neutralized most of their earnings last Friday.
A quick view for the moves in the market today:
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