In today’s stock market update, Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures are showing little change as investors await the opening bell.
Tech giant Nvidia saw a rebound after a significant drop, while upcoming earnings reports from major companies such as Microsoft, Boeing, Tesla, Meta Platforms, and Google parent Alphabet are in focus this week.
Yesterday, Cadence Design Systems, Nucor, and Packaging Corporation of America reported their earnings. Cadence stock took a hit, plunging nearly 9%, Nucor shares sold off 3%, and Packaging shares edged higher.
Investors are also keeping an eye on this week’s economic data, including the first-quarter GDP report and the Fed’s primary inflation gauge. The GDP data, expected on Thursday, is forecasted to show 2.1% growth in the first quarter.
In Monday’s trading session, the Dow Jones Industrial Average, S&P 500, and Nasdaq composite all saw gains. Notable companies like Apple and Microsoft traded higher, contributing to the market rally.
Oil prices and Treasury yields remained stable ahead of the market open on Tuesday. American Express is bouncing back from support around its 50-day moving average, while Google parent Alphabet is trading above a buy point in a consolidation. Other stocks, including Dexcom and Tradeweb Markets, are also in or near buy zones.
Nvidia and Tesla, part of the Magnificent Seven stocks, have been experiencing recent fluctuations. Apple and Microsoft, both Dow Jones leaders, traded higher on Monday, showing strength in the tech sector. Stay tuned for more updates as the week progresses.
