U.S. stocks rise ahead of big tech earnings, Fed meeting

2021-07-27 04:38

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NEW YORK, July 26 (Xinhua) -- U.S. stocks ended modestly higher on Monday as investors awaited earnings reports from tech giants and a key decision from the Federal Reserve.

The Dow Jones Industrial Average increased 82.76 points, or 0.24 percent, to 35,144.31. The S&P 500 rose 10.51 points, or 0.24 percent, to 4,422.30. The Nasdaq Composite Index was up 3.72 points, or 0.03 percent, to 14,840.71.

Six of the 11 primary S&P 500 sectors ended in green, with energy up 2.5 percent, leading the gainers. Health care slipped 0.62 percent, the worst-performing group.

U.S.-listed Chinese companies traded lower with all the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

The week features a batch of earnings reports from big tech names, including results from U.S. electric-vehicle maker Tesla after Monday's close, and reports from Apple, Alphabet and Microsoft on Tuesday. Facebook and Amazon will also report later in the week.

So far, 88 percent of S&P 500 companies have reported a positive EPS surprise, according to CNBC, citing data from FactSet.

Meanwhile, Wall Street is looking to the Fed as the U.S. central bank is set to kick off its two-day policy meeting on Tuesday, followed by a key announcement and a news conference by Fed Chair Jerome Powell on Wednesday.

For the week ending July 23, the Dow rose 1.1 percent, the S&P 500 climbed 2 percent and the Nasdaq gained 2.8 percent.
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