Highlights
Stocks recovered to end slightly better Monday as the market built on last week's rebound. Investors seized on President Trump's comment that Iran was participating in negotiations to end the war even as much of the president's comments renewed his most belligerent threats. The Dow and the S&P 500 both gained 0.4 percent and the Nasdaq was up 0.5 percent. Oil prices and ond yields were flat to higher while the dollar declined.
Among sectors, homebuilders, chipmakers, banks, aerospace & defense, restaurants and health care were among the top performers. Lagging were pharma, telecom, utilities, and auto suppliers. Amazon and Google had a good day but Tesla suffered.
News that US service business continued to grow in March was decent news as it suggests economic resilience with new orders picking up, though price pressures increased and hiring contracted.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.