US stocks mostly rise in anticipation of reports

The US stock indices Dow Jones and S&P 500 finished trading higher on April 10, while the Nasdaq closed slightly lower, Report informs referring to Interfax.

Investors have taken a wait-and-see attitude and are preparing for an active week in terms of macroeconomic statistics and corporate reporting. Thus, data on March inflation in the US will be published on April 12, on producer prices on April 13, and on retail sales on April 14.

Also, on April 14, the corporate reporting season for the first quarter kicks off. Wall Street’s leading banks, JPMorgan Chase, Citigroup and Wells Fargo, will be the first to reveal their financial results.

In addition, market participants are reacting to the statistical data on the labor market published at the end of last week.

As it became known last week, the number of jobs in the US economy in March increased by 236,000, and unemployment fell to 3.5% from 3.6% in February. Experts polled by Bloomberg, on average, expected an increase in the number of jobs in March by 230,000 and unemployment at the same level.

Shares of First Republic Bank rose 1% despite the news that the bank will suspend the payment of quarterly dividends on preferred shares. First Republic Bank suspended the payment of dividends on common stock in March following the collapse of Silicon Valley Bank, which provoked an outflow of customer funds from deposits in regional banks.

Capitalization of Exxon Mobil decreased by 0.4%. The Wall Street Journal, citing informed sources, wrote that Exxon had held preliminary talks with Pioneer Natural Resources Co. about the possible purchase of the company.

Price of McDonald’s Corp. rose 0.3% on rumors that the fast food chain could cut hundreds of jobs. According to ABC7, the bulk of the cuts will come from office workers.

Tesla shares fell 0.3% after the company lowered the price of its vehicles again.

The market value of microchip maker Micron Technology jumped 8% after rival Samsung Electronics announced plans to cut production of memory chips.

Shares of plastic tableware manufacturer Tupperware Brands Corp. collapsed by 49%. The company reported difficulties in obtaining new financing and liquidity problems. The management is looking for new sources of funds and is discussing various options with potential investors.

The Dow Jones Industrial Average rose 101.23 points (0.3%) to 33,586.52 points. The decline leader in the index was Apple Inc., which lost 1.6%, while the growth leader was Caterpillar, which gained 3%.

The Standard & Poor's 500 rose 4.09 points (0.1%) to 4,109.11 points.

The Nasdaq Composite lost 3.6 points (0.03%) and fell to 12,084.36 points.