Another Alert Win! 41-6 for 2024 📈
Our streak continues! We’ve racked up another win, making it 41 victories with just 6 stop-outs this year. The gains keep stacking, and we’re just getting started. Join us in the chat today for the latest upgrades, downgrades, and breaking market news!
Top Market Stories You Need to Know:
1. U.S. Futures Steady After Record-Setting Close 📊
The S&P 500 and Nasdaq hit record highs on Monday, fueled by strong tech stocks. The S&P 500 climbed 0.2% to 6,047.15 points, while the Nasdaq surged nearly 1% to 19,403.58 points. Meanwhile, the Dow Jones slipped 0.3% to 44,782.0 points, weighed down by economically sensitive sectors.
- Current Futures (as of 06:46 ET):
- S&P 500 Futures: 6,059.50 (steady)
- Nasdaq 100 Futures: 21,192.50 (down 0.1%)
- Dow Futures: 44,869 (down 0.1%)
2. All Eyes on the Fed 👀
Investors are watching JOLTS jobs data and speeches from Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee for clues on interest rate moves.
- While a December rate cut remains likely, uncertainty looms. Fed Governor Christopher Waller hinted at a 25 bps cut but emphasized upcoming data’s importance.
- A strong nonfarm payroll report (due Friday) could delay rate cuts, especially with concerns about potential inflationary pressures under a Trump administration.
3. Tesla’s Legal Battle Ends, Shares Dip ⚖️
Tesla (TSLA) fell 1% after a Delaware court invalidated Elon Musk’s $56 billion compensation package. Despite shareholder votes to reinstate it, the court ruled it excessive. Tesla remains near its highest levels since early 2022, with investors eyeing Musk’s growing political influence.
4. Tech Dominates: The “Magnificent Seven” Drive Records 💻
Tech stocks led Monday’s rally, with the “Magnificent Seven” (including Microsoft, Apple, Nvidia) rising between 1.3% and 3.5%. Their momentum pushed the Nasdaq and S&P 500 to new highs, while the Dow lagged.
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