The vast majority of companies that have reported first-quarter results so far have handily exceeded estimates, with the vaccine-enabled recovery helping stoke demand across a wide variety of industries.
Eighty-four percent of the S&P 500 companies that have reported first-quarter results to date posted a positive earnings per share surprise, according to data from FactSet.
Investors are also continuing to digest reports last week that the Biden administration was eyeing an increase on the capital gains tax rate for individuals earning more than $1 million.
“There is also a potential risk from higher capital gains tax if we get indication that it will materialize and go into effect starting next year causing certain investors to take profits early.
The Dow erased earlier gains to to trade lower by about 24 points, or 0.1%, as shares of Procter & Gamble and Coca-Cola declined amid a broader drawdown in defensive, staples stocks.
However, excluding transportation orders, durable goods orders rose 1.6% as expected.
A man who was shot and killed by Los Angeles officers over the weekend had been previously shot by police in Rhode Island in 2018, authorities said.
Mar del Plata is located about 250 miles south of Buenos Aires, Argentina, and sits along the coast of the southwestern Atlantic Ocean, and on Sunday, that beach was covered in a plethora of “pearls.” Thousands of white orbs littered the beach on April 25 in a spectacle unlike anything ever seen at the beach in the past.
The probe is being launched due to the death of Breonna Taylor, a 26-year-old unarmed Black woman who was shot and killed in her Louisville, Kentucky, apartment last March after police officers entered on a no-knock warrant in connection with a drug investigation; Taylor was not the target of the warrant and no narcotics were found in her apartment.
The superintendent of the Florida school district where 17 students and staff died in a 2018 high school massacre prepared for his testimony before a statewide grand jury by contacting witnesses in a criminal case and then lied about it when asked, prosecutors said Monday.
The California secretary of state’s office announced Monday that more than 1.6 million signatures had been verified, about 100,000 more than needed to force a vote on the first-term Democrat.