Here are five key things investors need to know to start the trading day:
1. Still going
Stock futures moved higher Monday morning after a record week on Wall Street. Futures tied to the Dow Jones Industrial Average rose 0.4%, S&P 500 futures advanced 0.3%, and Nasdaq-100 futures gained 0.2%. It comes after the three major averages all closed at all-time highs last week. “With the election decided, markets now have clarity, and are able to lay fears of a contested election to rest,” said Northern Trust investment chief Katie Nixon in a note Friday. Follow live market updates.
2. Counting coins
Nicolas Economou | Nurphoto | Getty Images
Bitcoin broke $80,000 over the weekend. It was a record high for the cryptocurrency, which has been on a run since President-elect Donald Trump’s victory last week. By Monday morning, the coin had climbed further to $82,000. Smaller coins like ether and meme coins like dogecoin also gained ground. “Crypto is poised to enter a golden era,” said Alex Thorn, head of research at Galaxy Digital, in a note Friday. “Trump has promised to make America the ‘crypto capital of the world.'”
3. Winding down
Customers shop at Home Depot on March 14, 2024 in Arlington, Virginia.
Sha Hanting | China News Service | Getty Images
As earnings season starts to wind down, a couple of big names are set to report this week. Home Depot is slated to release its earnings Tuesday morning, and Disney is due to issue results Thursday morning. For Home Depot, Wall Street is expecting weak same-store sales and declining earnings per share year over year. At Disney, analysts are projecting 30% earnings growth and watching for updated guidance.
4. Tesla regains $1 trillion
Elon Musk on stage before Republican presidential nominee former President Donald Trump speaks at a rally at Madison Square Garden in New York, NY on Sunday, October 27, 2024.
The Washington Post | The Washington Post | Getty Images
Elon Musk’s Tesla is once again a $1 trillion company. The EV stock gained 8% Friday, capping off a postelection rally of nearly 30%. Musk was active on the campaign trail for President-elect Donald Trump, and Tesla investors are betting that relationship will pay off for shareholders. Recapturing the $1 trillion market cap — after first reaching the milestone in October 2021 — puts Tesla in the four-comma club alongside Nvidia, Apple, Microsoft, Alphabet, Amazon and Meta.
5. Marketing push
Cynthia Erivo and Ariana Grande star as Elphaba and Glinda in Universal’s “Wicked.”
Universal
Seeing swaths of pink and green? It’s all part of Universal’s marketing plan in the lead up to the Nov. 22 release of “Wicked.” The studio has struck merchandising partnerships with brands spanning apparel, accessories, home goods, footwear, beauty and even autos. The film is expected to be one of 2024’s blockbusters and hopes to follow in the footsteps of “Barbie” after it painted the town pink last summer.
Disclosure: NBCUniversal is the parent company of CNBC and Universal Studios.
– CNBC’s Alex Harring, Tanaya Macheel, Katrina Bishop, Fred Imbert, Annie Palmer and Sarah Whitten contributed to this report.
