Stock market today: Wall Street rises ahead of what's hoped to be the last Fed rate hike in a while
Wall Street is ticking higher to start a week full of updates on where interest rates and profits for the stock market’s most influential companies are heading
NEW YORK — Wall Street is ticking higher Monday to start a week full of updates on where interest rates and profits for some of the stock market’s most influential companies are heading.
The S&P 500 was 0.3% higher in morning trading, coming off its eighth winning week in the last 10. The Dow Jones Industrial Average was up 158 points, or 0.5%, at 35,386, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 0.1% higher.
Becton Dickinson jumped 7.5% for the largest gain in the S&P 500 after it said it will return to full commercial operations for its updated Alaris infusion system after earlier recalls. It received a clearance from the U.S. Food and Drug Administration for the system, which delivers medications and other products to patients.
Domino’s Pizza was 0.1% higher after swinging between gains and losses on a mixed earnings report for the spring. Its profit for the latest quarter topped expectations, but its revenue fell short after customers ordered less than a year earlier.
The pizza chain is at the head of the line this week as roughly 30% of the companies in the S&P 500 tell investors how they did from April through June. Key among them are three Big Tech behemoths that have grown so large that their stock movements often dictate where the S&P 500 goes.
Alphabet, Meta Platforms and Microsoft will all report their results this week, and they’re three of the seven stocks that accounted for the majority of the S&P 500’s gain in the first half of the year. Each of the three has soared at least 35% for this year so far, and they’ll need to deliver
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