Stocks rise after strong earnings

Traders
celebrate after the closing bell on the floor of the New York
Stock Exchange, (NYSE) in New York, U.S., February 6,
2018.
Brendan
McDermid/Reuters

Stocks rose Monday, with the S&P 500 approaching its January
all-time high, after a wave of strong earnings reports from
companies including Tyson
Foods. The dollar
edged higher, and Treasury yields fell. 

Here’s the scoreboard:

Dow Jones industrial
average: 25,502.72 +40.14
(+0.16%)

S&P
500: 2,850.16 +9.81
(+0.35%)

Nasdaq
Composite : 7,857.03 45.02 (+0.58%)

1. US sanctions against Iran
   are snapping back into place. The economic
   penalties — which were reimposed as part of President Donald
   Trump’s decision in May to
   withdraw the US from the Iran nuclear deal — affect a
   range of economic sectors including cars and metals. A second
   round of sanctions, which would cut Iranian oil exports to
   zero, is set to take effect in November.
2. Turkey could
   lose duty-free access to US markets. After a
   tense week between the NATO allies, the Trump administration
   said it was reviewing a program that reduced tariffs on $1.7
   billion worth of Turkish imports to the US last year. The move
   sent the lira, which
   has already been in freefall, to a record low against the euro.
3. 
   Facebook is reportedly going after its users’ financial
   data.
   The Wall Street Journal reported the social
   media giant asked several major banks for customer financial
   data, including card transactions and checking-account
   balances, as part of a plan to offer its users new services.
   Shares of the company
   jumped 3.5% following the news.
4. Earnings season rolls on. Boosted by a
   booming economy and a rebound in insurance underwriting, Warren
   Buffet’s Berkshire
   Hathaway posted a 67% surge in quarterly
   operating profit over the weekend. Shares of the company
   
   rose more than 2% on Monday.

And a look at the upcoming economic calendar:

• Snap and Disney report earnings.
• The Reserve Bank of Australia announces rate decisions.
• The Mortgage Bankers Association reports US mortgage
  delinquencies.
• China releases trade balance numbers. 

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