S&P, Nasdaq rally to records ahead of Tesla earnings
Nasdaq books first record-high close since February
Sen. Paul: Doubling capital gains tax 'more worrisome' than raising corporate tax
Sen. Rand Paul, R-Ky., warns that increasing the capital gains tax will lead to a 'significant market reaction.'
Stocks climbed to record highs Monday as investors prepared for Tesla's quarterly earnings report and the results from other mega-cap tech companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44320.23 | -164.26 | -0.37% |
| SP500 | S&P 500 | 6295.89 | -1.47 | -0.02% |
| I:COMP | NASDAQ COMPOSITE INDEX | 20881.843261 | -3.81 | -0.02% |
The benchmark S&P 500 gained 0.18% and the Nasdaq Composite rallied 0.87% as both indexes finished at all-time highs. The Dow Jones Industrial Average, meanwhile, slipped 61 points, or 0.18%.
While the S&P finished at record highs as early as last week, it was the Nasdaq's first record since February.
The major averages received a lift after the Census Bureau said durable goods orders rose 0.5% in March, rebounding from a decline in the prior month. Excluding transportation, orders increased 1.6%, in line with forecasts.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 210.02 | -0.14 | -0.07% |
| AMZN | AMAZON.COM INC. | 223.88 | +0.69 | +0.31% |
| FB | PROSHARES TRUST S&P 500 DYNAMIC BUFFER ETF | 40.49 | -0.02 | -0.06% |
| GOOGL | ALPHABET INC. | 183.58 | +0.61 | +0.33% |
| MSFT | MICROSOFT CORP. | 511.70 | +6.08 | +1.20% |
In stocks, tech giants Apple Inc., Amazon Inc., Facebook Inc. Alphabet Inc. and Microsoft Corp. will all release their quarterly results this week. But first, Tesla was expected to report a record quarterly profit after Monday's closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 319.41 | -2.26 | -0.70% |
A pause on Johnson & Johnson’s COVID-19 vaccine was lifted late Friday after U.S. regulators concluded the benefits outweigh the risks. The vaccine was paused earlier this month after six women out of more than 7 million who received the inoculation developed blot clots.
Elsewhere, Moderna Inc.’s COVID-19 vaccine will be reviewed by World Health Organization experts on April 30 for possible emergency-use listing, Reuters reported, citing a WHO official.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 162.98 | -1.80 | -1.09% |
| MRNA | MODERNA INC. | 32.20 | +0.14 | +0.44% |
Good news on COVID-19 helped lift travel-related names including American Airlines Group Inc., Carnival Corp. and Hilton Hotels Corp.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 12.45 | +0.18 | +1.47% |
| CCL | CARNIVAL CORP. | 29.45 | +0.41 | +1.41% |
| HLT | HILTON WORLDWIDE HOLDINGS INC. | 272.21 | -1.26 | -0.46% |
In commodities, West Texas Intermediate crude oil lost 23 cents to $61.91 per barrel and gold edged up $2.20 to $1,779.20 an ounce.
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Overseas markets were mixed.
European markets reversed early losses with Britain’s FTSE 100 rallying 0.35%, France’s CAC 40 rising 0.28% and Germany's DAX 30 ticking up 0.11%.
In Asia, China’s Shanghai Composite fell 0.95%, Hong Kong’s Hang Seng index slid 0.43% and Japan’s Nikkei 225 advanced 0.36%.