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Stock Market Today: Live Updates
Stocks advanced on Monday as investors evaluated the impact of the assassination attempt on former President Donald Trump and geared up for a significant week of crucial corporate earnings. In the early hours of trading on Sunday, stock futures showed a slight increase as investors prepared for a significant week of crucial corporate earnings. Futures tied to the $DOW Jones Industrial Average, $S&P 500, and $Nasdaq 100 all saw modest gains.
The focus of investors is now turning towards the upcoming second-quarter earnings announcements, which could potentially drive the market to new highs. The $DOW Jones recently reached a new peak above 40,000, marking a 6.1% increase for the year. The $S&P 500 has surged by 18% in 2024, hitting a fresh record, largely led by tech companies. Over 40 companies listed on the $S&P 500 are scheduled to report their earnings this week.
Amidst these developments, market participants are also keeping a close eye on the recent incident involving the attempted attack on former President Donald Trump and its potential implications for the political landscape in the United States. Despite this event, experts believe it is unlikely to significantly impact the financial markets.
As the week unfolds, the Republican National Convention is set to commence in Milwaukee, Wisconsin, with Trump currently leading President Joe Biden in national polls. Last week, the stock market saw positive performance fueled by optimistic inflation data, with the $S&P 500 and $Nasdaq Composite registering gains for several consecutive weeks. The $DOW Jones notably outperformed, recording its best weekly performance since May 10 as investors diversified their portfolios beyond just tech stocks.
The earnings season kicked off last week with mixed results from major U.S. banks. While JPMorgan and Citigroup exceeded Wall Street's expectations, Wells Fargo's decrease in net interest income fell short of investor hopes. Looking ahead, Goldman Sachs is scheduled to announce its earnings on Monday, followed by Morgan Stanley and Bank of America on Tuesday. Other notable companies such as Johnson & Johnson, United Airlines, and Netflix are also expected to release their earnings reports throughout the week.
Original Article: https://www.cnbc.com/2024/07/14/stock-market-today-live-updates.html
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