“U.S. stocks twisted mostly higher on Monday, with energy and technology shares rallying as Wall Street anticipated quarterly results from Netflix Inc. and Apple Inc.,” Kate Gibson reports for MarketWatch.
“The S&P 500 index rose 3.29 points to 1,558.54, with energy and technology in the lead among its 10 major sectors, and industrials the weakest performers,” Gibson reports. “Netflix Inc. shares surged 6.9% ahead of the online-video provider’s first-quarter results after the market close, while Apple climbed 1.5% ahead of its quarterly release on Tuesday. ‘A lot will hinge on what Apple does tomorrow,’ said Marc Chaikin, CEO at Chaikin Analytics LLC. ‘Tim Cook has a chance to pull a rabbit out of a hat by taking cash on the company’s balance sheet to buyback stock and increase Apple’s dividend,’ Chaikin said of the consumer technology company’s chief executive officer.”
Gibson reports, “The Nasdaq Composite rose 17 points, or 0.5%, to 3,223… U.S. equities are coming off their worst weekly performance in months, with sentiment weakened by mixed earnings results and further signs of slowing U.S. and global growth. ‘As the housing market has been a lynch pin of this bull market, it’s another data point investors use to take profits. But I don’t think it’s fatal for the rally,” Chaikin said of data from the National Association of Realtors, which reported sales of previously owned homes fell 0.6% in March.'”
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