US stocks attempted to rebound on Monday from their worst week of the year as investors braced for a flood of corporate earnings. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all showed signs of recovery, with tech stocks looking to bounce back after a challenging period.
The market rally has hit a fragile point, with hopes pinned on Big Tech earnings later in the week to reignite investor confidence. Companies like Meta, Microsoft, and Alphabet are set to report their quarterly results, with all eyes on Tesla as the EV maker announced price cuts in multiple countries.
However, Tesla’s shares fell more than 4% on Monday morning, marking the seventh consecutive session of declines. The company’s upcoming earnings report will be closely watched, especially after recent controversial decisions made by CEO Elon Musk.
Meanwhile, the debate over the Federal Reserve’s stance on interest rate cuts continues to impact market sentiment. With inflation concerns looming, investors are eagerly awaiting the release of the PCE index later in the week to gauge the Fed’s future actions.
In the tech sector, Nvidia shares rebounded after a steep decline on Friday, while other Big Tech stocks like Meta and Microsoft saw slight declines. Amazon, Alphabet, and Apple showed fractional gains, indicating a mixed performance among tech giants.
Overall, the market’s response to upcoming earnings reports and economic indicators will be crucial in determining the direction of stocks in the coming days. Stay tuned for more updates on the market’s recovery and the latest developments in the financial world.
