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S & P 500 hit new intraday high in the middle of a crowded week of financial data, earnings




On Monday morning, stocks rose at the beginning of the week packed with financial data releases and several major quarterly reports.

<p class = "canvas-atomic text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "S & P 500 ( ^ GSPC ) rose 0.1[ads1]%, or 2.94 points, from new record intraday after climbing over the previous record height of 2,940.91 hit September 21. "Data-response time =" 12 "> S & P 500 (^ GSPC) rose 0.1%, or 2.94 points, from noon. 9.43 ET and hit a new record intraday after climbing over the previous record high of 2140.91 on September 21st.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Within the index, -heavy communication sector's leading advances Alphabet ( GOOG & GOOGL ) quarterly results by market theme. "Data-response time =" 13 "> Within the index, the major technological communications sector shows progress ahead of Alphabet (GOOG, GOOGL) quarterly results after market nearby.

<p class = "leather-textile-textile Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Dowen ^ DJI ) slid 0.01% or 3.55 points while Nasdaq ( ^ IXIC ) rose 0.05%, or 4.94 points. "data response time =" 14 "> Dow (^ DJI) slipped 0 , 01%, or 3.55 points, while the Nasdaq (^ IXIC) rose 0.05% or 4.94 points.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Wider stronger than expected result – combined with one strong reading on [n / a] first-quarter GDP & nbsp; – sent the S&P 500 and Nasdaq to end Friday's session height record. "data-response time =" 15 "> Very stronger than expected result – combined with strong reading on GDP in the first quarter – sent S & P 500 and Nasdaq to Friday sessions at record highs.

Companies comprising more than half of the S & P 500's market value reported the results last year, with earnings of 6.6%, and 77% of companies exceeding their bottom line estimates, according to an analysis by Jonathan Golub, US chief share strategist with Credit Suisse. These figures, compared to 5.4% and 71% over the last three years, added.

Investors had low expectations on their way into this earnings season, expecting a year-on-year decline in corporate profits as the Trump administration increase tax cuts began to fade and the outlook for international economies and trade softened.

With expectations already happening to the disadvantage, companies that missed expectations from the first quarter so far have been disproportionately penalized by investors: Shares in companies that missed top and bottom line estimates delayed the broader market with an average of about 4.1% following the results , while companies exceed expectations by 1.1%, Golub said.

<p class = "canvas-textile textile Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Monday by the clock, Google parent company's alphabet ( GOOG & nbsp; GOOGL ) will report quarterly results, along with MGM Resorts ( MGM ), NXP Semiconductors ( NXPI ), Tenet Healthcare ( THC ), Western Digital ( WDC ). Data-response time = "19"> Monday after the clock, Google parent company Alphabet (GOOG, GOOGL) will report quarterly results, along with MGM Resorts , NXP Semiconductors (NXPI), Tenet Healthcare (THC) Western Digital (WDC).

Meanwhile, reports that signal the state of the US economy will be the focus of this week, with the Federal Reserve issuing its latest policy statement Wednesday and the Bureau of Economic Analysis, which enters the April work report Friday, data abroad will also be of interest to give a better picture of the state of the global economy, with the Bank of England set aside to release its own monetary decision on Thursday, and China's purchasing manager's index published Tuesday.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Over the weekend, profit on industrial Companies in China & nbsp; – The world's second largest economy – showed an increase of 13.9% in March of the year before, according to the National Bureau of Statistics, reversing a 14% decline in industrial profits in the first two months of the year , and suggested a positive impact from some of the country's recently implemented stimulation efforts to help its key assessors. "data-response time =" 21 "> Over the weekend, the profits of industrial companies in China – the world's second largest economy – showed to have increased 13.9% in March the year before, according to the National Bureau of Statistics. This reversed a 14% decline in industrial results in the first two months of the year, suggesting a positive impact from some of the country's recently implemented incentives to help its key industry sectors.

S & P 500 and Nasdaq posted record highs on Friday last week following a strong corporate earnings performance and a better than expected gross domestic product reading in the US in the first quarter. (AP Photo / Richard Drew, File)

Market participants will be approximated to the Federal Open Market Committees political statement Wednesday to measure members' response to recent data on the domestic economy, which grew much faster than expected 3.2 % in the first quarter. However, data pointed out that inflation remains below the Bank's 2% target, despite unemployment remaining low.

On Monday morning, CME Group's carefully watched FedWatch tools showed market pricing with a 98% likelihood that the Fed will keep prices unchanged on current bands of between 2.25% and 2.5%. It also showed a 2% probability that central banks would cut prices by 25 basis points.

The 10-year government bond rate and US dollar were roughly unchanged before Fed's monetary policy decision. The yield on the 10-year government bond crossed up less than 1 base point to 2.511% from Monday morning, while the dollar index held just over 98.

ECONOMY

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Personal expenses jumped a bigger than expected 0.9% in March reported the Finance Director Monday . Estimated increase of 0.7%, and in the previous month, personal expenses increased 0.1%, headline jumps in purchases – which include more than two-thirds of domestic activity – were the largest increase since late 2009. "data response = "41"> Personal expenses jumped over 0.9% in March, the Bureau of Economic Analysis reported Monday. Consensus economists expected an increase of 0.7%, and last month, personal expenses increased by 0.1%. The headline jump in purchases – which includes more than two-thirds of domestic activity – was the largest increase since the end of 2009.

At the same time, real personal income increased by less than expected by 0.1% in March. This was below 0.4% gain expected, according to Bloomberg data. For the month before, personal income increased by 0.2%.

The latest reading on the core expenditure on personal consumption – which excludes volatile food and energy prices – was the flat month over the month and up 1.6% the year before. The annual increase was the lowest level in 14 months and marked a slowdown from the 1.7% increase in February for core PCE, which acts as the Federal Reserve's preferred inflation measure.

"It will strengthen the concern of several officials that inflation is still too low to be consistent with the 2% target," and may spur some Fed officials into "serious interest rate cuts for too long," said Andrew Hunter. senior American economics economics economist.

<p class = "canvas-atom teacher-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 46 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = ] and reddit . "data-reactid =" 47 "> Follow Yahoo Finance on [19659037] Instagram Flipboard LinkedIn and reddit

<p class =" canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Read more from Emily: "data-reactid =" 48 " > Read more from Emily:

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<p class = "canvas-atom canvas- Levi Strauss shares jump more than 30% above the IPO price of open "," Mb (1.0em) Mb (0) – Sm Mt (0.8em) – sm "type =" text "content =" data-response = "50"> Levi Strauss shares jump more than 30% over IPO price at open

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<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Boeing 737 Max grounding pressure & # 39; Economic data from United States: Wells Fargo "data-response time =" 52 "> Boeing 737 Max grounding press & # 39; American economic data: Wells Fargo

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The backward risk remains Muted as fear traces higher: Report "data-reactid =" 53 "> The backlash risk remains silent as fear traces higher: Report



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