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U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation concerns in the run up to third-quarter earnings reports from later this week.
The S&P 500 financial sector index rose 0.7%, while banks added 0.6% ahead of earnings reports from JPMorgan Chase & Co and Bank of America Corp, Morgan Stanley and Citigroup Inc (C.N) as Goldman Sachs (GS.N) will report results on Friday.
Mega-caps Apple Inc, Tesla and Microsoft Corp rose between 0.6% and 1%, with nine of the 11 major S&P 500 sector indexes trading higher.
Investors see the S&P 500 substantially off its all time high and there’s no headline to scare them away from buying, so they’re buying like they usually do.
Today’s bullishness is more of a return to the investor habits that were established after the pandemic selloff.
