Stocks on Wall Street went up early on Monday, continuing a rise that started last week. This was due to good profits at Goldman Sachs and a big new order for Boeing planes.
Last week, inflation numbers were pretty bad, so US stocks started this week on a good note. On Friday, thanks to good retail sales numbers, they went up even more.
At the start of a week with important earnings reports and decisions by the European Central Bank and other central banks, Briefing.com analyst Patrick O’Hare said that there was “carryover momentum.”
At 31,556.91, the Dow Jones Industrial Average was up 0.9% after about 20 minutes of trading.
The broad-based S&P 500 went up 0.9% to 3,899.33, and the tech-heavy Nasdaq Composite Index went up 1.5% to 11,618.13.
Boeing’s stock went up 4.6% after it was announced that Delta had agreed to buy 100 Boeing MAX passenger planes for a total of $13.5 billion. The Delta jumped 5.4 percent.
Goldman Sachs went up by 3.6% after saying that its quarterly earnings dropped by 48% to $2.8 billion because it had to set aside more money for bad loans. But thanks to good trading performance, the results were better than what analysts had predicted.
This week, Netflix, Johnson & Johnson, and Tesla are all due to report their earnings.