Tesla And Paypal Boost The S&P 500 And Nasdaq Ahead Of Big Tech Earnings

In tumultuous trading on Monday, US market indices moved higher, aided by gains in Tesla and PayPal shares. This week, investors will be looking for earnings reports from key technology companies, which could provide market direction. In early trade, five of the 11 major S&P sectors rose, with energy stocks leading the way with a 1.9 percent gain.

The stock prices of Microsoft, Apple, Alphabet, and Amazon all fell, bringing the benchmark index's ascent to a halt. The tech behemoths account for more than 22% of the US stock market's weight and are major contributors to the Dow Jones Industrial Average. Huggies, the company's diaper segment, has reduced its profitability outlook for 2021 due to higher input cost inflation. The United States' third-quarter GDP, core PCE price index, and consumer confidence figures will be announced later this week.