Dow Jones Today: Stock Futures Point to Higher Open for Major US Indexes

Jul 15, 2024
dow-jones-today:-stock-futures-point-to-higher-open-for-major-us-indexes

Stocks moved higher Monday as investors assessed the impact of the assassination attempt on former President Donald Trump on the U.S. presidential election and prepared for a busy week of corporate earnings reports.

The Dow Jones Industrial Average and S&P 500 were up about 0.5%, while Nasdaq Composite was up 0.8% in morning action. On Friday, the major indexes gained ground, pushing them into slightly positive territory for the week, with the Dow topping 40,000.

The recent stock-market rally has been fueled by the strong performance of tech stocks and hopes the Federal Reserve will cut its influential fed funds rate as soon as September. Several large-cap technology stocks were gaining ground in early trading Monday, including Tesla (TSLA), Nvidia (NVDA) and Apple (AAPL).

Shares of Super Micro Computer (SMCI) also climbed, as did EV maker Tesla (TSLA). The latter company’s shares were recently the top gainer in the S&P 500, up more than 6%.

Shares of Trump Media (DJT) jumped, rising some 35%.

Bitcoin surged to near $63,000, giving a boost to Coinbase (COIN), Microstrategy (MSTR) and other cryptocurrency-related stocks.

Investors, who are looking for clues on the timetable for rate cuts, will be keeping close tabs on speeches Monday by Federal Reserve Chair Jerome Powell and San Francisco Fed President Mary Daly.

The yield on 10-year Treasurys, which have fallen in recent weeks as expectations for a rate cut have increased, was up slightly to 4.226%. Crude-oil futures slipped, while gold ticked higher.

Cleveland-Cliffs Stock Rises After News of Stelco Deal

1 hr 3 min ago

Shares of Cleveland-Cliffs rose Monday following the news that it agreed to acquire Canadian steelmaker Stelco Holdings.

The cash-and-stock deal is valued at about $2.5 billion. Cleveland-Cliffs’ shares were recently up about 0.5%

Andrew Kessel

Google Price Levels to Watch as Company Eyes $23B Deal

2 hr 3 min ago

Alphabet shares are in focus on Monday after The Wall Street Journal reported Sunday that the Google parent is in advanced discussions to acquire cybersecurity startup Wiz for around $23 billion.

The stock climbed to a record high last Wednesday, but closed lower for the week, potentially setting the stage for a retracement.

The Alphabet share price could find support at key levels on the chart including $175, $150, and $134. A bars pattern that takes the stock’s upward move between March last year and January this year and overlays it from the March swing low projects a longer-term price target around $215.

Source: TradingView.com.

Alphabet shares were down 0.2% at $186.31 in pre-market trading.

Read the full technical analysis on Alphabet shares here.

Timothy Smith

Blackrock Assets Reach Record $10.6 Trillion

2 hr 30 min ago

BlackRock reported a record $10.6 trillion in assets under management in its second-quarter earnings report Monday, as profits and revenue rose year-over-year.

BlackRock’s second-quarter revenue rose 8% from a year ago to $4.81 billion, while net income was up 9% at $1.5 billion, or $9.99 per share. 

Aaron McDade

Stock Futures Pointing to Higher Open

3 hr 34 min ago

Futures tied to the Dow Jones Industrial Average were up 0.6%.

TradingView

S&P 500 futures were up 0.5%.

Nasdaq 100 futures gained 0.6%.

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