The US markets ended Monday’s the session on the positive territory amid sharp losses mid-session which saw the Dow Jones Industrial Average plunge by more than 1000 points at midday.
At market close, the Dow rose 0.29%, the Nasdaq 100 rose 0.49% while the S&P 500 increased by 0.27%.
Investors are keenly awaiting the upcoming Federal Reserve’s monetary policy decision and how it will move to combat inflation, and how their decision will affect asset prices. At the same time, the rising tensions between Washington and Russia are a big concern after Pentagon Press Secretary John Kirby said the US has readied about 8,500 troops for deployment to Europe should the need arise.
US Markets | Earnings
Major companies including General Electric, Microsoft, Apple and Tesla (TSLA) are all due to report quarterly results later in the week. The Wall Street Journal reported that of the 65 companies in the S&P 500 that filed results through midday Monday, nearly 77% beat analysts’ expectations, according to Refinitiv.
IBM
On the earnings front, International Business Machines (IBM) Corporation on Monday posted its earnings with its revenue in the fourth quarter rising by 6.5% to $16.7 billion. Net income jumped by 107% in comparison to the same period the year before to $2.5 billion. In the same period, its diluted earnings per share (EPS) surged by 106% to $2.72 per share.
Following the earnings release, IBM’s shares went up by 5.23% in after-hours trading.
READ; What to expect this week in US Markets | MSFT, AAPL, TSLA, BA
