The\u00a0Dow Jones Industrial Average\u00a0advanced on Monday as investors bet the\u00a0unsuccessful assassination attempt\u00a0on former President Donald Trump will lead to big gains for the Republican presidential candidate and the GOP at the polls in November.<\/p>\n
Friendlier fiscal policies ahead were seen as further spurring a broadening out of the bull market that started to take shape last week. Small-cap shares and banks climbed on Monday.<\/p>\n
The blue-chip Dow jumped 210.82 points, or 0.53%, to 40,211.72. The\u00a0S&P 500\u00a0added 0.28% to 5,631.22. Both touched new intraday highs in the session, while the former also saw a record close. The\u00a0Nasdaq Composite\u00a0rose 0.4% to 18,472.57.<\/p>\n
\u201cThe good news is that former President Trump was not injured more than the ear, that he was not killed,\u201d said Sam Stovall, chief investment strategist at CFRA Research, on CNBC\u2019s \u201cWorldwide Exchange.\u201d \u201cAs a result, I think the market will continue on its momentum ways.\u201d<\/p>\n
The Republican National Convention\u00a0commenced Monday in Milwaukee, Wisconsin, with Trump leading President Joe Biden\u00a0in national polls.<\/p>\n
Humana\u00a0and\u00a0UnitedHealth Group\u00a0each rose in the session. The insurers could benefit from fewer cost pressures coming from a Republican administration.<\/p>\n
The\u00a0Russell 2000\u00a0gained 1.8%,\u00a0touching its highest level since 2022 and recording a fourth straight positive day. Goldman Sachs said a second Trump term could help small caps outperform, citing their strong record after his victory in 2016.<\/p>\n
Goldman Sachs\u00a0shares added 2.6% after\u00a0posting earnings\u00a0that exceeded analysts\u2019 expectations. The\u00a0SPDR S&P Bank ETF (KBE)\u00a0and\u00a0SPDR S&P Regional Banking ETF (KRE)\u00a0both added more than 2%.<\/p>\n
Goldman is one of the more than 40 S&P 500 companies\u00a0reporting second-quarter earnings this week\u00a0as the new season ramps up. This list also includes household names such as\u00a0Bank of America,\u00a0United Airlines\u00a0and\u00a0Netflix.<\/p>\n
Beyond earnings, investors parsed\u00a0comments\u00a0from Federal Reserve Chair Jerome Powell, who said the central bank\u00a0wouldn\u2019t wait\u00a0until inflation was at its goal of 2% before lowering interest rates. He also said a hard landing scenario was unlikely for the economy.<\/p>\n
\u201cWe are getting very close to the point of the Fed \u2026 seeing the data that they need to see to be comfortable cutting rates,\u201d said Bill Merz, head of capital market research at U.S. Bank Asset Management. \u201cThat\u2019s what is the first and foremost thing in the psyche of the market.\u201d<\/p>\n<\/p>\n
The\u00a0Dow Jones Industrial Average\u00a0advanced on Monday as investors bet the\u00a0unsuccessful assassination attempt\u00a0on former President Donald Trump will lead to big gains for the Republican presidential candidate and the GOP at the polls in November. Friendlier fiscal policies ahead were seen as further spurring a broadening out of the bull market that started to take shape […]<\/p>\n","protected":false},"author":0,"featured_media":6185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=6184"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/6184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/6185"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=6184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=6184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=6184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}