U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week. Mega-caps Apple Inc., Tesla Inc., and Microsoft Corp, rose between 0.6 percent and 1 percent, with nine of the 11 major S&P 500 sector indexes trading higher. “Investors see the S&P 500 substantially off its all-time high and there’s no headline to scare them away from buying, so they’re buying like they usually do,” said Mike Zigmont, head of research and trading at Harvest Volatility Management in New York. “Today’s bullishness is more of a return to the investor habits that were established after the pandemic sell-off.” The S&P 500 financial sector index rose 0.7 percent, while banks added 0.6 percent ahead of earnings reports from JPMorgan Chase & Co. on Wednesday and Bank of America Corp., Morgan Stanley, and Citigroup Inc. …
Wall Street Rises as Big Tech, Financials Gain
October 11, 2021
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