Major US stock indexes rose more than 1% on Monday, repeating the rally that swept the European and Asian stock markets, after the centrist party candidate Emmanuel Macron won the first round of the presidential election in France.
The victory of Macron positively affected the mood of investors, as it gives confidence in maintaining stability in France and the eurozone as a whole. Polls showed that the pro-European Macron is expected to defeat right-wing rival Marin Le Pen in a decisive May 7 vote that will ease fears about the collapse of the euro zone. According to the latest IFOP poll, Macron should beat Le Pen in the 2nd round with a score of 60% against 40%. Meanwhile, Opinionway poll revealed that Macron will receive 61% of the vote, and Le Pen - 39% of the vote.
Investors continue to closely monitor the issuing quarterly reports of companies, the publication period of which continues in the US. In particular, this week the focus of investors' attention will be the reporting of such companies as McDonald's (MCD), AT & T (T), Procter & Gamble (PG), Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Coca- Cola (KO), etc. It should be noted that the already announced reports helped to improve analysts 'expectations regarding the companies' profit in the first quarter. According to the latest forecasts of analysts, for the first three months of this year, the profits of S & P 500 companies grew by 11.2% y / y, whereas at the beginning of the corporate reporting season, the profit growth was expected to increase by 10.1%.
Most components of the DOW index finished trading in positive territory (26 out of 30). The leader of growth was the shares of JPMorgan Chase & Co. (JPM, + 3.67%). More shares fell The Walt Disney Company (DIS, -0.61%).
All sectors of the S & P index showed an increase. The growth leader was the conglomerate sector (+ 1.8%).
At closing:
DJIA + 1.06% 20,764.54 +216.78
Nasdaq + 1.24% 5,983.82 +73.30
S & P + 1.08% 2,374.08 +25.39