S&P 500 rises; Apple and Palantir set to report results
SPY•The S&P 500 rose 0.25% on Monday as oil prices fell on optimism about a potential U.S.-Iran peace agreement. Apple fell 2% ahead of its quarterly results, while Palantir was near flat before reporting after the bell.
1. Stocks edge higher
The S&P 500 gained 0.25% to 7,598.94 points, the Nasdaq rose 0.10% to 25,462.99 and the Dow added 0.94% to 52,258.77. Eight of the 11 S&P 500 sector indexes advanced, while energy fell 3.3% as Brent crude prices dropped.
2. Earnings in focus
Apple shares declined 2% ahead of its quarterly report after the bell, with investors focused on rising memory-chip costs. Palantir was near flat before its report after the bell, and AMD fell 4% ahead of results due Tuesday.
3. AI spending concerns
Oracle dropped 5.2% after filings showed it plans to raise $20 billion through debt and a share sale. Investors remained concerned about the pace of AI spending after a selloff in October; the Nasdaq fell 5.3% for the month.
