Traders were active on the New York Stock Exchange floor Monday as the market witnessed notable performance benchmarks. The Dow Jones Industrial Average futures remained nearly flat overnight, posting a modest rise of 43 points or 0.1%, after the index achieved a record close the previous day. Similarly, the S&P 500 and Nasdaq 100 futures maintained their positions close to the flatline after a triumphant trading session marked by new intraday highs and historic closes for both the S&P 500 and the Dow, the latter having crossed the 43,000 threshold for the first time.
Driving the S&P 500’s climb was a strong showing from information technology stocks, up nearly 1.4%, with Nvidia adding significant momentum thanks to its 2.4% rally and record close. Despite the market highs, Scott Chronert, Citi’s U.S. equity strategist, expressed concerns on CNBC’s “Closing Bell,” suggesting that the S&P 500 might be at least fairly valued, if not slightly overvalued, though he noted that current trends could persist with supportive news flow.
Looking ahead, investor focus shifts to corporate earnings with major players like Goldman Sachs, Citigroup, and Bank of America expected to report on Tuesday. Beyond the banking sector, United Airlines, Walgreens Boots Alliance, and Johnson & Johnson are also set to release their earnings. Market participants will also be attuned to economic indicators concerning manufacturing and consumer expectations, with insights anticipated from speeches by San Francisco Federal Reserve President Mary Daly, Atlanta Fed President Raphael Bostic, and Fed Governor Adriana Kugler throughout the day.
As the market navigates post-record highs, the interplay between earnings reports and economic data will be pivotal in maintaining the current momentum, shaping investor sentiment moving forward.
Original Story https://www.cnbc.com/2024/10/14/stock-market-today-live-updates.html
Category :
Tags:
