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Time for Earnings to Take Over

Daily Recap

After falling roughly 1% last week, major averages started this week on a strong note, reclaiming much of that lost ground. The Industrials rose 184 points to close at 20,637, while the Transports rose an even greater 1.31%. The Nasdaq and S&P 500 followed suite, both up just shy of 1%.


Part of the gains appeared to be the result of earnings optimism. The fact that China reported a strong 6.9% Q1 growth figure certainly didn't hurt either.


Overseas markets did not fare quite as well, however, with the Stoxx 600 falling 0.35% while the Asia Dow climbed 0.2%. Italy's FTSE was the biggest decliner, down 1.16%.


In fixed income markets Treasuries sold off slightly, causing the yield on the 10-year to rise to 2.25%. The dollar also headed lower, its index losing 0.23% to close at 100.24.


Gold continued its climb, adding another $3 per ounce, while silver closed the day unchanged. Platinum was ... Log in or subscribe to continue reading.

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