Wall Street Set To Kick Off Big Retail Earnings Week On High Note
Wall Street’s main indexes were set to open higher on Monday as retailers prepared to wind down a better-than-feared quarterly earnings season, while investors continued to watch for the S&P 500 to breach record-high levels. The benchmark S&P 500 ended Friday about 0.4% below a record closing high hit in February after flirting with that level for the most of last week as a clutch of data pointed to a wobbly recovery for the world’s biggest economy. “It goes back to the basic factor – with interest rates low, next to zero even though yields have gone up, there is no place to put your money so stocks continue to hover near record highs,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Read more at Reuters.
