US stocks rose again on Monday and added to their all-time highs:
- The S&P 500 rose 44 points, or 0.7%, to 5,859.
- The Dow rose 201 points, or 0.4%, to 43,065.
- The Nasdaq rose 159 points, or 0.8%, to 18,502.
- Bitcoin, meanwhile, rose more than 5% to eclipse $66,000 before falling slightly back.
The gains followed relatively quiet trading in Europe, while the US bond market remained closed for the day because of a federal holiday. Boeing lost 1.4% in its first trading since the aerospace giant warned that it expects to report that it burned through $1.3 billion in cash during the latest quarter and lost $9.97 per share. Boeing also said it was laying off 10% of its workforce as it tries to deal with a strike that is crippling production of the company's best-selling airline planes. On the winning side of Wall Street was SoFi Technologies. It rose 10.3% after announcing a $2 billion loan platform agreement with investment firm Fortress Investment Group, where SoFi will refer pre-qualified borrowers.
Longboard Pharmaceuticals soared 51.2% after H. Lundbeck, a Danish company, said it would buy the biopharmaceutical company in an all-cash deal valuing it at $2.6 billion. The upcoming week will have few top-tier economic reports outside Thursday's update on sales at US retailers to help guide trading. That will likely leave more emphasis on corporate earnings reports, which will pick up the pace this week after big banks began the reporting season last week. Bank of America, Johnson and Johnson, and UnitedHealth Group will all report their latest results on Tuesday. Later in the week will come United Airlines, Netflix, American Express, and Procter & Gamble.
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