Stock Market News, April 22, 2024: Nasdaq Closes Higher to Kick Off Busy Earnings Week

Stocks rallied Monday ahead of a deluge of earnings this week.

More than 30% of S&P 500 companies are due to release quarterly updates, according to FactSet. Verizon was among the first out of the gate Monday. Tesla and Visa are due Tuesday, while Alphabet, Meta Platforms and Microsoft follow later in the week.

Investors on Thursday will also get a look at how the U.S. economy fared in the first quarter, followed by the latest reading on the Fed's preferred inflation gauge on Friday.

The S&P 500 gained Monday, but is still down 4.6% in April. Will earnings help turn the tide, or lead to more pain? Read the day's full markets roundup here.

As of late Monday:

Stock indexes rose. The Nasdaq led the way with a 1.1% gain. The S&P 500 added 0.9% and Dow advanced 0.7%.

Tesla shares fell. The stock lost more than 3%. For the year, the shares are down more than 40%.

The yield on the 10-year Treasury note edged up, settling at 4.622%.

Oil prices fell. Brent crude futures slipped to $87 a barrel as tensions between Iran and Israel appeared to ease.

Bitcoin climbed above $66,000, following the token’s highly anticipated halving event.

Gold futures fell sharply, after hitting a new record high Friday.

Overseas, stocks in Asia and Europe mostly rose; the U.K.'s FTSE 100 closed at a record high.

— By Caitlin McCabe and Eric Wallerstein