Nasdaq breaks 4-day losing streak as tech shares rise ahead of key earnings

Goldman Sach’s gives its list of high Sharpe ratio stocks.

Andrew Kelly/Reuters

US stocks finished mixed on Monday as traders looked ahead to key earnings reports this week.
The Nasdaq snapped a four-day losing streak as investors awaited Zoom, Nvidia, and Snowflake earnings.
Markets are also expecting Fed Chair Jerome Powell to speak at Jackson Hole on Friday.

US stocks traded mixed on Monday, with tech stocks rising as investors looked ahead to key earnings reports over the coming week.

The Nasdaq snapped a four-day losing streak, with Zoom Video reporting late Monday, while Nvidia and  Snowflake report on Wednesday. 

Markets are also anticipating Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium on Friday, when he will deliver remarks on the state of the US economy.

Positive comments from the central bank chief could be another catalyst that drives the stock market higher, some strategists have said, though Powell has previously warned that monetary policy could grow even tighter as inflation remains above the Fed’s 2% target.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Monday: 

S&P 500: 4,399.77, up 0.69%Dow Jones Industrial Average: 34,463.69, down 0.11% (36.97 points)Nasdaq Composite: 13,497.59, up 1.56%

Here’s what else is going on today: 

Here’s why a mild recession could be a good thing for the housing market.Goldman Sachs thinks there are three reasons why the stock market has room to run higher.Tech stocks just flashed a “sell” signal ahead of Nvidia’s big earnings report.Bond yields are attractive, but stocks are still better for long-term wealth, Wharton professor Jeremy Siegel said.There are two big catalysts that could spark a stock market rally this week, according to Fundstrat.China’s economic troubles are the result of a post-2008 “debt supercycle,” top economist Kenneth Rogoff said.India’s central bank urged lenders to de-dollarize trade with the United Arab Emirates, Reuters reported.Russia’s economic woes have been a boon for the UAE, bringing in a flood of cash and sparking a real estate boom in the country.

In commodities, bonds, and crypto: 

Oil prices were lower. West Texas Intermediate crude oil dropped 0.64% to $80.73 a barrel. Brent, the international benchmark, slipped 0.09 % to $84.38 a barrel. Gold rose 0.29% to $1,894.88 per ounce. The yield on the 10-year Treasury bond jumped nine basis points to 4.342%.Bitcoin dipped 0.19% to $26,064. 

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