Argus Research
Market Update: EL
Stocks rose modestly on Monday morning ahead of the start of 2Q earnings season later this week. Second-quarter earnings for S&P 500 companies are expected to rise 64% from the prior year, according to FactSet data, up from approximately 50% in 1Q. Fed Chair Jerome Powell will also provide his semiannual policy report to Congress on Wednesday and Thursday. The Dow rose 0.3%, the S&P rose 0.2%, and the Nasdaq was flat. Crude oil traded near $74 per barrel, while gold fell $6 to $1805 per ounce.
