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- The Nasdaq (COMP.IND) +0.8% finishes the strongest, the S&P 500 (SP500) closes +0.3% and and Dow (DJI) -0.1% slides, hampered by a price decline in Disney, which is pushing movie releases and also caught a downgrade from Barclays.
- The 10-year Treasury yield is off earlier highs, next to flat at 1.59%.
- Megacaps close higher, with Facebook ending up 3.2%. The company is looking to hire 10,000 workers across the EU.
- Seven of 11 S&P sectors end higher, led by Consumer Discretionary. Utilities finished as the worst of all segments.
- Earnings keep rolling in, including Netflix this week. And the streaming services is saying the huge viewing numbers for Squid Game could create nealry $900M in impact value.
- "Early season positive earnings across the board have definitely helped sentiment over the last few days," Deutsche Bank's Jim Reid writes. "18 out of 19 that reported last week beat expectations across varying sectors."
- "So much for inflation squeezing margins," he says. "My view remains that we’re still seeing 'growthflation' and not 'stagflation', particularly in the US even if there are obvious risks to growth. For now, there is still a buffer before we should get really worried."
- "On the back of the decent earnings, the S&P 500 had its best week since July last week and is now only less than -1.5% off its record high from early September."
- Meanwhile, bitcoin is up in choppy trading, with a futures ETF is set to start trading tomorrow.