US stocks closed higher on Monday as traders eye corporate earnings results and speculate on the Federal Reserve's next move to combat stubbornly high inflation.
Big financial institutions including JPMorgan and BlackRock opened up first-quarter season on Friday, with JPMorgan posting record revenue to handily beat analysts' estimates. CEO Jamie Dimon warned that the US economy is facing loomingShares of Charles Schwab swung after reporting first-quarter results that beat estimates but announcing a pause in share buybacks in response to March's banking crisis. The stock closed 4% higher.
Result continue to roll in this week, with Goldman Sachs, Bank of America, Morgan Stanley, Netflix, and Tesla all set to report this week. Also on Monday, Richmond Fed chief Thomas Barkin said he wants to see more evidence that inflation is cooling back to the central bank's 2% target, Bloomberg
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