FX.co ★ US Stocks Start Busy Week Strong

On Monday, the S&P 500 increased by 0.6%, the Dow Jones Industrial Average rose by 0.7%, and the Nasdaq Composite went up by 0.5%. These gains were primarily driven by shifts in technology and communication sectors, with Apple seeing a 3% rise, Meta advancing by 2.1%, and Microsoft increasing by 0.9% ahead of their earnings announcements later in the week. Conversely, the consumer discretionary sector saw a decline, notably with Tesla dropping 3.1%. Investors are now keenly focused on the Federal Reserve's decision scheduled for Wednesday, amid rumors that President Trump might announce a new Fed Chair as early as this week. Further, there's renewed concern about a government shutdown, as Democrats have threatened to block a $1.2 trillion funding bill if it includes allocations for Homeland Security. Trade tensions are ongoing following President Trump's renewed threat of imposing 100% tariffs on Canadian imports, in relation to a potential deal with China, although Canadian officials have minimized this risk. Meanwhile, heightened geopolitical and fiscal uncertainties have driven gold prices to unprecedented levels, exceeding $5,100 per ounce, despite broad support from strong corporate earnings.