Steve Goldstein and Jacob Sonenshine
Stocks fell from last week’s highs on Monday, as earnings season gets started this week.
Earnings season gets started this week, with
(WFC) getting things going on Wednesday. The question for investors this earnings season is whether the good economic news is already reflected in stock prices—and whether guidance will be strong enough to push stocks higher.
India’s main stock market index saw its worst performance in six weeks on Monday, dropping sharply as a spate of new coronavirus cases had investors jittery that new restrictions would come.
India S&P BSE Sensex
fell 3.4%, the worst single-day drop since the 3.8% slide on Feb. 26. India recorded 169,914 new infections and 904 deaths on Sunday.
There was more negative coronavirus news from China, where a government official said the effectiveness of its vaccines was low. The
dropped 1.1%, and markets in Tokyo and Hong Kong also fell.
That offset some positive developments on the virus front from elsewhere, with pubs and hairdressers reopening in England. In the U.S., Federal Reserve Chair
said the economy was at an inflection point, as he also told the “60 Minutes” news program that the central bank would wait until the jobs recovery was complete before increasing interest rates.
“The upcoming weeks will provide a reality check on whether this bull market still has the potential to creep higher or some profits needs to be cashed out,” said
chief market strategist at FXTM.
surged 12% in Seoul after reaching a legal settlement with LG Energy Solution that won praise from the White House, relieved that the supply of batteries for electric vehicles to
Ford Motor Co.
won’t be disrupted. SK Innovation will pay LG 2 trillion won, or $1.8 billion. Shares of
LG Energy Solution’s parent company, edged up 0.6%.
(MTCH) shares rose 0.5% after BTIG upgraded the stock to Buy from Neutral.
(QCOM) shares are down 2.2% after Evercore downgraded the stock to In-line from Outperform.
(TSLA) gained 3.7% after getting upgraded to Buy from Hold at Canaccord.
Write to Teresa Rivas at [email protected]