Here Are 3 Hot Things to Know About Stocks Right Now
- Stocks haven't declined on back-to-back days in April.
- Even with its gains on Monday, the Dow Jones Industrial Average remains more than 2,000 points below its all-time high of 26,616 on Jan. 26.
- Bank of America Corp. (BAC - Get Report) rose 0.47% after the bank posted first-quarter earnings that topped forecasts. Netflix Inc. (NFLX - Get Report) is scheduled to report earnings after Monday's closing bell.
Wall Street Overview
Stocks rose on Monday, April 16, as concerns over prolonged military action in Syria faded and the focus for investors shifted to a heavy upcoming slate of U.S. corporate earnings.
The Dow Jones Industrial Average finished up 212 points, or 0.87%. The S&P 500 was up 0.81% and the Nasdaq rose 0.70%. Leading the Dow higher were Merck & Co. (MRK - Get Report) , UnitedHealth Group Inc. (UNH - Get Report) and Caterpillar Inc. (CAT - Get Report) .
Donald Trump on Saturday, April 14, declared "Mission Accomplished" for a U.S.-led allied missile attack on Syria's chemical weapons program. The U.S., U.K. and France in the early hours of Saturday conducted a coordinated missile attack described as a "limited, targeted, effective strike" on targets in Syria in response to a suspected chemical weapons attack by the forces of President Bashar al-Assad in Douma last week.
The conflict in Syria appeared to be having little impact on trading with Wall Street turning instead to earnings reports Monday from Bank of America Corp. (BAC - Get Report) and Netflix Inc. (NFLX - Get Report) .
Bank of America reported first-quarter profit of 62 cents a share, 3 cents ahead of estimates. The bank said sales and trading revenue in the quarter rose 6% to $4.1 billion.
Bank of America shares rose 0.47% on Monday.
Later in the week, reports will be issued from Goldman Sachs Group Inc. (GS - Get Report) , Morgan Stanley (MS - Get Report) , Johnson & Johnson (JNJ - Get Report) , General Electric Co (GE - Get Report) , International Business Machines Corp. (IBM - Get Report) and UnitedHealth.
Merck appears to be the "clear winner so far," according to Credit Suisse Securities (USA) analyst Vamil Divan. Merck's data were "better-than-expected across all patient subgroups," while Bristol-Myers' data "shows early signs of a survival benefit, but questions remain until we see full data," Divan wrote.
Volkswagen AG's (VLKAY) commercial-vehicles unit reportedly is considering a full takeover of Navistar International Corp. (NAV - Get Report) . Shares of the Illinois truck maker jumped 9.8% following the report from The Wall Street Journal.
WPP recently began an independent investigation into Sorrell, 73, after reports of personal misconduct and inappropriate use of company funds. Sorrell denied the allegations, and made no mention of them in a letter to employees. American depositary receipts of WPP were down 4.7%.
Qualcomm Inc. (QCOM - Get Report) will refile as early as Monday an application with the Chinese government to clear its $44 billion takeover of NXP Semiconductors N.V. (NXPI - Get Report) , sources told Reuters.
Shire Pharmaceuticals PLC (SHPG) said Monday it will sell its oncology business to France's Servier SAS as it continues to discuss a possible $50 billion takeover play by Japan's Takeda Pharmaceutical Co. (TKPYY) .
Retail sales in the U.S. during March rose 0.6% vs. economists' expectations that called for an increase of 0.1%. Sales at U.S. retailers had declined the previous three straight months.