Stock Market Today: Dow, Nasdaq Rise; Boeing Stock, Bitcoin Price ...
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Stocks are showing signs of life after their rough start to the year last week.
The S&P 500 and Nasdaq Composite were both solidly in the green, led by shares of large technology stocks, which dropped last week after their huge 2023.
The Dow was also climbing, despite a drop in Boeing shares after the company's MAX 9 blowout that had pulled the blue-chip index into the red earlier this morning.
Also rebounding were bonds, with the 10-year Treasury yield spending much of the day below 4%.
In recent market action:
Stock indexes were up, led by a more than 2% gain in the Nasdaq Composite. The S&P 500 climbed more than 1%, after shedding 1.5% last week to break a nine-week winning streak. The Dow was up more modestly.
Large tech stocks rebounded. All of the “Magnificent Seven” stocks were in the green after slumping last week. Nvidia led the way, rising around 5%.
Oil prices dropped. Front-month U.S. crude fell more than 4% to under $71 a barrel after Saudi Arabia unveiled price cuts.
Bond yields fell. The 10-year Treasury yield dropped below 4%, after settling at 4.04% Friday.
Global markets were mixed. The Stoxx Europe 600 rebounded into positive territory after earlier declines. Hong Kong’s Hang Seng Index fell almost 2%, and the Shanghai Composite fell 1.4%.
To watch in the coming days:
Earnings season kicks off in earnest this week. Major companies including JPMorgan Chase and Bank of America are set to report Friday. Jefferies reports later Monday.
U.S. inflation data is up ahead, with December consumer-price data due Thursday, followed by producer prices Friday.