Dow reclaims 18,000 as quarterly reports begin to flow

Wall Street rose on Monday, with the Dow touching highs not seen since July, while investors braced for a flurry of quarterly earnings reports through the week.

A recent rebound in oil and signs that the U.S. economy was recovering have helped stocks rally from a steep selloff earlier this year that had pushed the S&P 500 down as much as 10.5 percent.

The index is now up 2.3 percent in 2016 and only about 2 percent short of its all-time high, while the Dow breached 18,000 for the first time since July 21.

That came despite bleak expectations for first-quarter earnings reports, many of which flow in this week. Earnings of S&P 500 companies are seen falling 7.7 percent on average, with the energy sector weighing heavily, according to Thomson Reuters I/B/E/S.

Source: Dow reclaims 18,000 as quarterly reports begin to flow | Reuters

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.