Wall Street Rises Ahead of Major Corporate Earnings Week

Wall Street Rises Ahead of Major Corporate Earnings Week

Wall Street stocks edged higher on Monday as investors looked ahead to a packed week of corporate earnings and monitored developments in Washington over the ongoing government shutdown.

This week’s earnings calendar features major companies including Netflix, Tesla, and Procter & Gamble. According to FactSet projections, third-quarter earnings are expected to grow by about 8.5 percent compared to the same period last year.

Around 15 minutes after the opening bell, the Dow Jones Industrial Average rose 0.5 percent to 46,405.31. The S&P 500 gained 0.7 percent to 6,712.65, while the tech-heavy Nasdaq Composite advanced 1.0 percent to 22,900.45.

“Investors are optimistic that the next wave of earnings will come in stronger than expected, particularly from large-cap technology firms,” said Adam Sarhan, chief executive of 50 Park Investments.

Meanwhile, markets remained attentive to political negotiations in Washington as the government shutdown continued. National Economic Council Director Kevin Hassett said the administration was considering “stronger measures” to pressure congressional Democrats into approving an extension of government spending.