#StockMarket #EarningsReport #InvestmentOpportunities
The U.S. stock market saw significant gains on Monday, July 15, 2024, driven by better-than-expected earnings and retail sales data. The Dow Jones Industrial Average closed at a record high, with futures linked to the 30-stock average rising 42 points, or 0.1%. The S&P 500 and Nasdaq 100 futures also climbed 0.2% and 0.3%, respectively.
The Dow advanced 0.53% to a record close, while the S&P 500 added 0.28%, and the Nasdaq Composite gained 0.4%. This upward trend was attributed to investors' optimism following an unsuccessful assassination attempt on former President Donald Trump, which could potentially boost the Republican party's chances in the November election. A GOP victory could lead to favorable tax and fiscal policies for investors.
Additionally, the market saw a rotation into small-cap stocks, with the Russell 2000 rising 1.8% during the session. Tom Lee, the head of research at Fundstrat Global Advisors, believes this rally marks the beginning of a longer rotation, potentially lasting 10 weeks and resulting in a 40% gain for the Russell 2000. This optimism is fueled by the monthly decline in June's consumer price index reading, which gives small-cap stocks "the green light" to rally.
Several major companies, including Bank of America, Morgan Stanley, UnitedHealth, and Charles Schwab, are set to report earnings on Tuesday. Traders will also be watching for the latest economic data, including June's retail sales, export and import price indexes, and May's business inventories.
Original Article: https://www.cnbc.com/2024/07/15/stock-market-today-live-updates.html
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