S&P 500 Jumps as Big Tech Earnings Loom, Hasbro Falls Short
The S&P 500 Index (SNPINDEX: ^GSPC) managed a solid gain on Monday, up 0.74% at market close. Daily confirmed cases of COVID-19 are still elevated in the United States, but a new stimulus package is in the works. Senate Republicans are soon expected to unveil a bill that includes a smaller enhanced unemployment benefit, money for schools and testing, a targeted second round of Paycheck Protection loans, and a second batch of direct payments to Americans. The total cost is reportedly around $1 trillion.
This stimulus news comes just days before big U.S. technology companies are scheduled to report their quarterly results. The second calendar quarter included widespread retail-store closures and an advertising slowdown, as well as a marked shift to e-commerce. There will likely be some good news and some bad news coming out of these reports. Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), and Facebook (NASDAQ: FB) report this week.
Also in the news was toymaker Hasbro (NASDAQ: HAS), which reported weak results that led the stock to slump on Monday.
Source Fool.com
