"Stocks closed higher on Monday, resuming the rally that started last week amid news the U.S. will remove China from a list of currency manipulating countries, increasing optimism ahead of the signing of a key trade agreement.

The S&P 500 gained 0.7% to close at 3,288.13, hitting a record high. The Nasdaq Composite also notched an all-time high, advancing 1% to 9,273.93 as Tesla shares surged. The Dow Jones Industrial Average rose 83.28 points, or 0.3% to 28,907.05.

Goldman Sachs and Cisco Systems rose more than 1% each to lead the Dow higher. The S&P 500 was lifted by the tech and real estate and materials sectors, which advanced at least 1.3% each. Apple shares also rose 2.1% to hit a record high."

Source: CNBC

Closing numbers for major indices:
Dow 30: 28,907.05 +83.28 (+0.29%)
Nasdaq: 9,273.93 +95.07 (+1.04%)
S&P 500: 3,288.13 +22.78 (+0.70%)

Commodity prices:
Oil: 58.04 -$1.00
Gold: 1,548.90 -$11.20
Silver: 17.99 -$0.11

Notes and Bonds:
10 year Note: 1.842%
30 Year Bond: 2.299%

Currencies:
USD Index: 97.37

Earnings Season Starts with Banks!

Earnings Calendar this Week:

JPM - Tuesday pre-market
C - Tuesday pre-market
WFC - Tuesday pre-market

BAC - Wednesday
BBT - Wednesday pre-market
USB - Wednesday pre-market
BLK - Wednesday pre-market
PNC - Wednesday pre-market
GS - Wednesday pre-market

STI - Thursday pre-market
SCHW - Thursday pre-market
OZK - Thursday after market close
MS - Thursday pre-market

RF - Friday pre-market
CFG - Friday pre-market
STT - Friday pre-market

"Tesla stock continued to rally on Monday, rising nearly 10% on the day and closing at an all-time high of $524.86 per share.

Tesla, which is now up more than 20% in 2020, continued to soar on its entrance into China and Q4 delivery figures that exceeded Wall Street’s expectations. The stock has more than doubled over the past three months, according to FactSet.

The recent gains bring Tesla’s market cap to about $94.6 billion, which is more than that of General Motors and Ford combined. The companies’ market caps, which measure the value of their outstanding equity, don’t tell the full story, though.

Tesla stock has been on a tear this quarter after announcing a surprise profit in its third-quarter earnings report in October of last year. Back then, the stock was just more than $250 per share."

Source: CNBC

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Thanks,

Tommy O'Brien
TFNN