Investing.com — U.S. stock indexes in late Sunday trading after Israel averted a weekend attack on Iran’s nuclear and oil facilities, suggesting escalating tensions in the Middle East are not too serious. Futures prices rose.
This week focused attention on tech-related mega-earnings, as well as several key economic indicators that provide further clues about the health of companies and the economy.
Wall Street indexes were mixed over the past week as traders flocked to tech stocks over other economically sensitive sectors.
By 19:14 ET (23:14 GMT), it rose 0.4% to 5,871.25 points and rose 0.5% to 20,597.75 points. It rose by 0.4% to 42,468.0 points.
Oil prices fall, risk appetite improves as M.East concerns ease
Oil prices plunged early Monday while risk appetite improved after Israel launched a retaliatory attack on Iran over the weekend but avoided hitting major nuclear and oil facilities.
Iran also suggested that the damage caused by the attack would be limited, raising hopes that a larger conflict would not erupt in the Middle East.
Still, the Iranian government said it would retaliate for the attack.
Nasdaq hits record high as tech mega-cap stocks approach earnings
Wall Street indexes had mixed closes on Friday, with the Nasdaq hitting a new intraday high, while the S&P 500 and Dow both slumped below their recent highs.
Tech stock positioning has increased this week ahead of a series of major technology results that five of Wall Street’s Magnificent Seven companies are expected to release in the coming days.
Alphabet Inc (NASDAQ:) is scheduled to report on Tuesday, while Meta Platforms Inc (NASDAQ:) and Microsoft Corporation (NASDAQ:) are scheduled to report on Wednesday.
Apple Inc. (NASDAQ:) and Amazon.com Inc. (NASDAQ:) are then scheduled to report on Thursday.
These five companies account for the lion’s share of Wall Street’s market valuations, and their earnings are likely to be a bellwether for the overall market. This week’s results are expected to show whether artificial intelligence trade remains strong as major companies ramp up capital spending on new technologies.
It closed flat on Friday at 5,808.12 points, but rose 0.6% to 18,518.61 points. It closed 0.6% lower at 42,114.40 points.
In addition to major financial results, this week also focuses on a series of important economic indicators.
third-quarter data, and the Fed’s preferred measure of inflation, are expected to be released in the coming days.
The 2024 presidential election is also scheduled to be held in a week.
