Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday?

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Wall Street Rises Ahead Of Big Tech Earnings, Fed Meeting; Tesla Rebounds, Oil Prices Drop To 7-Week Lows: What's Driving Markets Monday? - Benzinga

Quick Summary:

Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings reports and economic events.The S&P 500 rose 0.4% by midday trading in New York, while the tech-heavy Nasdaq 100 climbed 0.8%.

Four out of the six largest U.S.corporations – including Microsoft Corp., Apple Inc.(NASDAQ:AAPL), Meta Platforms Inc.(NASDAQ:META) and Amazon Inc.(NASDAQ:AMZN) – are set to report their latest quarterly earnings between Tuesday and Thursday.

Meanwhile, the Federal Reserve will hold its two-day Federal Open Market Committee (FOMC) meeting, concluding Wednesday with the rate statement and Fed Chair Jerome Powell‘s press conference.