Dow Runs String to 11 Straight Wins - InvestingChannel

Dow Runs String to 11 Straight Wins

The Dow Jones Industrial Average rose sharply Monday, notching its longest winning streak since February 2017, to kick off a busy week of key earnings reports and a major policy decision from the Federal Reserve.

The 30-stock index roared ahead 183.55 points to kick off Monday at 35,411.24, finishing with an 11th straight day of gains.

The S&P 500 added 18.30 points to 4,554.64.

The NASDAQ index gathered 26.06 points to 14,059.87.

Energy stocks led gains in the S&P 500, with the sector up about 1.7% after oil and gasoline futures touched a three-month high Monday.

Chevron rose nearly 2% after the oil giant reported preliminary second-quarter adjusted earnings Sunday that topped analysts’ estimates.

Wall Street is anticipating earnings results from some 150 S&P 500 companies this week, or about 30% of the broader index. Big tech earnings are on deck from Alphabet, Microsoft and Meta. Several big pharma companies are getting ready to report and it’s a big week for industrial companies and big oil as well.

Prices for the 10-year Treasury gained back lost ground Monday afternoon, raising yields to 3.88% from Friday’s 3.84%. Treasury prices and yields move in opposite directions.

Oil prices took on $1.85 to $78.92 U.S. a barrel.

Gold prices dropped $10.40 to $1,956.20 U.S. an ounce.

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