Conditions are calm on the markets, with yields also fluctuating relatively little on the bond market. The next big event for the market could be Tuesday's update on US inflation, which economists expect to return below the 3% level.
Waiting for, Diamondback Energy soared 10.3% after announcing it would buy Endeavor Energy Resources in a deal valued at about $26 billion, including Endeavor's debt. Diamondback is using both cash and stock to pay for the purchase of the privately held exploration and production company.
Trimble rose 3% after the technology provider reported higher profits and revenue for the latest quarter than analysts expected. The company, whose products are used in the construction, mapping and other industries, overcame an earlier loss after also giving 2024 revenue forecasts that fell short of Wall Street estimates.
Large companies in the S&P 500 have mostly reported better-than-expected results for the final three months of 2023. More than two-thirds of companies in the index have already reported results, but several big names are still due next week . They include Coca-Cola on Tuesday, Kraft Heinz on Wednesday and Southern Co. on Thursday.
The smaller companies in the market, meanwhile, are still in the early days of the earnings release season. But they beat analysts' expectations even more than their larger rivals, according to Bank of America strategists.
Concerns have grown over the top-heavy stock market, where the seven largest companies have contributed a disproportionate share of the S&P 500's rally to a record. If more companies, outside of the group known as the Magnificent Seven, manage to generate strong earnings growth, it could ease criticism that the market has become too expensive.
Another concern for the market is uncertainty over the danger posed to the economy by banks' loans and other holdings on their balance sheets linked to commercial real estate.
The widely held expectation, even among senior U.S. government officials, is that weakness in office buildings and other commercial projects will cause at least some difficulty for banks. But no one can say for sure how much.
This is why we focused so much on Community Bank of New York recently. It shocked investors about two weeks ago by announcing a surprise loss for its latest quarter. Part of the pain was due to the acquisition of Signature Bank during the industry's mini-crisis last year. But concerns about commercial real estate also played a role.
Shares of New York Community Bancorps have fallen by about half since that surprise report, but they were doing better Monday. It increased by 1.7%.
An index measuring share prices in the regional banking sector was also higher, up 2%.
On the bond market, yields have changed very little. The 10-year Treasury yield fell to 4.17% from 4.18% Friday evening.
The two-year Treasury yield, which more closely tracks expectations for the Federal Reserve, fell to 4.47% from 4.48% late Friday.
Inflation has cooled enough for the Federal Reserve has hinted that it could cut its main interest rate several times this year. Such cuts typically boost financial markets and the economy, and they would relieve pressure built up since the Fed raised its main interest rate to its highest level since 2001.
After hoping rate cuts could begin as early as March, traders have since pushed back their forecasts to May or June. Reports showing the U.S. economy and job market remain remarkably strong, as well as some comments from Fed officials, have forced delays.
If the Fed ends up making traders wait even longer than expected for rate cuts, it could upend stock prices that have already soared assuming lots of good news, according to Marc Dizard, chief investment strategist at PNC Asset Management Group. In addition to lower interest rates, this also implies a stronger conviction that the U.S. economy is not in a recession, a continued decline in inflation, and stronger corporate profit growth.
“There’s not much more than can really happen,” he said.
On foreign stock markets, indices were slightly higher in much of Europe. In Asia, several markets were closed for holidays.
AP Business writers Matt Ott and Elaine Kurtenbach contributed.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- Miriam Margolyes to perform at the Edinburgh Fringe for the first time in 12 years
- Jon Stewart slams critics of his return to the 'Daily Show'
- Perfetto scores 100th goal as Terriers beat Brown 16-10
- Sakura Collection Fashion Presentation Brings Japan's Art, Culture and Style to New York Fashion Week • James Lane Post • Hamptons Culture & Lifestyle Magazine
- Adds Spotify song search functionality to Nest.
- Indonesia to maintain policy rate as Prabowo victory reduces uncertainty
- Popular Hong Kong animator Dodo Cheng is proud of his city for teaching Cantonese to Hollywood heartthrob Timothe Chalamet in the pre-release interview for the Dune sequel.
- Chinese actor Li Yapeng struggles with debt
- Hugo Weaving and Phoenix Raei film twists
- Best Shoe Trends From London Fashion Week FW24
- Gunna announces 'Bittersweet' tour with final stop in Atlanta
- Nikki Haley says she won't quit despite trailing South Carolina primary I BBC News