Dow Jones Today: Stock Futures Point to Higher Open as S&P 500 Nears Record High; Intel Jumps on Deal Speculation

Medtronic Stock Slumps as Sales Miss Estimates

27 minutes ago

Medtronic (MDT) shares tumbled Tuesday after the medical device maker missed sales forecasts.

The company reported fiscal third-quarter revenue rose 2.5% year-over-year to $8.29 billion, below analysts’ estimates compiled by Visible Alpha. Adjusted earnings per share (EPS) came in at $1.39, slightly above forecasts.

The revenue miss came as sales at Medtronic’s Medical Surgical division declined 1.9% to $2.07 billion. The company pointed to stapling segment pressures, as well as a drop in purchases of its blood oxygen management products because of fewer respiratory-related hospitalizations in the U.S.

Shares of Medtronic were down more than 7% in recent trading. The stock is near unchanged over the past 12 months.

–Bill McColl

As Gold Nears $3,000, Analysts Mixed on Outlook

1 hr 47 min ago

Gold prices are nearing the $3,000 per troy ounce level for the first time, yet Wall Street has mixed views on where they will end up this year.

Goldman Sachs in a note Monday raised its forecast to $3,100/oz from $2,890, citing central bank buying and inflows into exchange-traded funds (ETFs). Morgan Stanley, meanwhile, projects gold at $2,700 by the fourth quarter.

Goldman said that if “policy uncertainty—including tariff fears—stays high, higher speculative positioning for longer could push gold prices as high as $3,300/toz by year-end.”

Gold has enjoyed a yearlong rally driven by rising central bank purchases, geopolitical tension, and declining interest rates.

The uncertainty around tariffs that U.S. President Donald Trump is planning to impose globally has been driving gold lately, Morgan Stanley analysts said in their note Friday. Gold is a safe haven investment and seen as a hedge as economists expect tariffs to ignite inflation.

The Morgan Stanley analysts cited “demand destruction and supply response” for their more downbeat view on gold, noting that demand could decline as prices continue to climb, while recycling boosts supply.

“Tariff uncertainty could take prices a bit higher, in our view, but further demand destruction and supply response from recycling and potential profit taking suggests prices could end 2025 lower than they are today,” the analysts wrote. 

The Morgan Stanley analysts said that both central bank and investment demand continue to be strong, especially in the world’s two largest gold markets of India and China.

–Nisha Gopalan

Constellation Brands Jumps on Buffett Investment

2 hr 36 min ago

Constellation Brands (STZ) shares jumped in early trading Tuesday after Warren Buffett’s Berkshire Hathaway (BRK.A, BRK.B) disclosed a new investment in the beer and spirits maker.

Since the 50-day moving average (MA) crossed below the 200-day MA to flash a death cross in August last year, Constellation Brands shares have trended sharply lower, with the price more recently forming a falling wedge chart pattern.

While the relative strength index (RSI) signals bearish price momentum with a reading below the 30 threshold, the indicator also points to oversold conditions, increasing the likelihood of a potential bounce.

Indeed, the stock looks set to break out above the pattern’s upper trendline in Tuesday’s trading session, potentially paving the way for an upside reversal.

Investors should track key overhead Fibonacci levels on the Constellation Brands chart around $187, $204, $218 and $231, while also watching an important support level near $160.

The stock was up 5% at $171 in the opening minutes of Tuesday’s session.

Read the full technical analysis piece here.

–Timothy Smith

S&P 500 Poised to Hit Record High Tuesday

3 hr 22 min ago

The S&P 500 is on track to open at an all-time high on Tuesday, as the U.S. stock market looks to add to last week’s gains.

The S&P 500 and Nasdaq Composite rose 1.5% and 2.6%, respectively, last week, while the Dow Jones Industrial Average tacked on 0.5%. The S&P 500 finished Friday’s session—ahead of Monday’s break for the Presidents’ Day holiday—just 4 points away from its record close, and 14 points below its all-time high. The Dow and Nasdaq each enter the trading week less than 1% away from record closing highs.

So far in 2025, the Dow is up 4.7%, while the S&P 500 and Nasdaq have gained 4% and 3.7%, respectively.

Intel Levels to Watch Amid Deal Speculation

4 hr 18 min ago

Intel (INTC) shares jumped in premarket trading Tuesday after The Wall Street Journal over the weekend reported that Broadcom (AVGO) and Taiwan Semiconductor Manufacturing Co. (TSM) are considering bids for parts of the embattled chipmaker.

Intel shares surged more than 20% last week after Vice President JD Vance said at a recent AI conference in Paris that the Trump administration would take steps to ensure AI chips are designed and manufactured in the U.S. Sentiment surrounding the stock received a further boost last week on speculation that the company may partner with TSMC to make chips in the U.S. 

Despite last week’s gain, the stock had lost nearly half of its value over the past 12 months through Friday’s close.

Since gapping sharply lower in early August last year, the stock has remained mostly rangebound, potentially carving out a rectangle bottoming pattern. The relative strength index sits just below the 70 threshold, confirming bullish momentum, setting the stage for positive price action to continue this week.

Investors should watch key overhead areas on Intel’s chart around $26, $32, $37, and $45, while also monitoring a major support level near $19.

The stock was up 5% at $24.80 about 90 minutes before Tuesday’s opening bell.

Read the full technical analysis piece here.

–Timothy Smith

Major Index Futures Move Higher

4 hr 53 min ago

Futures tied to the Dow Jones Industrial Average were up 0.2%.

S&P 500 futures were up 0.4%.

Nasdaq 100 futures also advanced 0.4%.