New York, NY – Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures showed minimal changes ahead of Tuesday’s stock market opening, with a focus on tech giants like Nvidia, Microsoft, Boeing, Tesla, Meta Platforms, and Alphabet. These companies are anticipated to release significant earnings reports throughout the week.
In recent updates, Cadence Design Systems, Nucor, and Packaging Corporation of America disclosed their earnings results late Monday. While Cadence stock experienced a nearly 9% decline, Nucor shares dropped by 3% in after-hours trading. Packaging shares, on the other hand, saw a slight increase following the close of the stock market.
This week’s economic calendar is poised to showcase key data points like the first-quarter GDP and the core PCE price index, which could potentially impact the ongoing surge in interest rates. The GDP data, set for release on Thursday, is expected to reveal a 2.1% growth in the first quarter, down from the previous quarter’s 3.4% growth. Additionally, the Bureau of Economic Analysis will provide insights into personal spending and outlays for March on Friday.
In Monday’s trading session, the Dow Jones Industrial Average saw a 0.7% rise, while the S&P 500 and Nasdaq composite each rallied by 0.9% and 1.1%, respectively. Notable stocks like Nvidia and Microsoft showed positive movement, with tech icons Apple and Microsoft also making gains in the stock market.
American Express has been identified as a key player in the market, bouncing back in heavy volume and climbing above its 50-day moving average. The company delivered impressive first-quarter results, outperforming expectations and driving a 6.2% surge in its stock price.
Alphabet, Dexcom, On Holding, and Tradeweb Markets are among the companies to watch as they navigate various market challenges and opportunities. These firms are closely monitored for potential breakout movements and shifts in stock prices.
As investors navigate the stock market landscape, it is crucial to stay informed about emerging trends, stock performances, and economic indicators. By closely following market conditions and staying updated on key developments, investors can make informed decisions and capitalize on potential investment opportunities.