New York, NY – Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures showed modest gains ahead of the stock market opening on Tuesday. Nvidia, a leader in artificial intelligence, saw a rally near record highs, while Tuesday marked the expected debut of former President Donald Trump’s social media platform, Truth Social.
Following a successful merger with Trump’s tech and social-media platform, Digital World Acquisition, now Trump Media & Technology Group, announced that common stock and public warrants would trade on the Nasdaq under the ticker symbols “DJT” and “DJTWW,” respectively. The stock surged 11% in premarket trade.
Trump’s stake in Trump Media & Technology Group was valued at over $3 billion, based on Digital World’s current stock price. Meanwhile, Nvidia’s stock climbed 0.8% on Monday as it approached more record highs, being recognized as an IBD Leaderboard stock.
This week is set to be light in terms of economic data releases, with the spotlight on the Labor Department’s Personal Consumption Expenditures price index expected on Friday before the market opens. Federal Reserve Chairman Jerome Powell mentioned that the core PCE price index likely rose below 30 basis points in February, with a 2.8% increase over the past 12 months.
Earnings reports are also slowing down this week, with key reports expected from companies like Jefferies Financial, Paychex, Carnival, and RH. In Monday’s market action, the Dow Jones Industrial Average dipped 0.4%, the S&P 500 fell 0.3%, and the Nasdaq composite lost 0.3%.
Tech giants like Microsoft and Meta Platforms were among the biggest losers, with Apple also trading down in the stock market on Monday. Alphabet, Arista Networks, Duolingo, and DraftKings, along with Dow Jones components Disney, IBM, and Verizon Communications, were noted as some of the best stocks to watch in the market.
As the market looks ahead to the opening bell on Tuesday, Dow Jones futures rose 0.2%, S&P 500 futures gained 0.4%, and Nasdaq 100 futures moved up 0.5%. Oil prices rose on Monday, with the 10-year U.S. Treasury yield reaching 4.25%.
Overall, the stock market rally continues, offering opportunities for investors to stay informed and make strategic decisions. Market data, analysis, and insights are essential tools for investors looking to navigate the ever-changing landscape of the stock market.