US stocks edge higher as investors brace for another wave of corporate earnings
US stocks edged higher on Monday as investors anticipate another flood of first-quarter earnings that are set to be released this week. Earnings reports from Pfizer, General Motors, PayPal and Etsy among others will be released throughout this week.
Mega-cap technology companies headlined last week’s earnings announcements, with Tesla,Apple, Alphabet, and Amazon all beating earnings expectations.
Here’s where US indexes stood at the 9:30 a.m. ET open on Monday:
Investors turned their focus to Berkshire Hathaway’s Warren Buffett and Charlie Munger over the weekend as the company held its annual shareholders meeting virtually.
Fidelity cut its implied valuation of Ant Group in half to $144 billion, according to regulatory filings. The mutual fund giant had previously valued its Ant Group stake at $295 billion, but increased regulatory scrutiny from China led to a canceled IPO and a depressed valuation.