Traders work on the floor of the New York Stock Exchange during morning trading on April 29, 2024 in New York City.

Michael M. Santiago | Getty Images

Summary

Stocks ended Monday’s session with gains. The Dow added nearly 150 points, or 0.4%. The S&P 500 and Nasdaq climbed about 0.3% and 0.4%, respectively. With just one session left in April’s trading month, the Dow is tracking to lose more than 3.5%. The S&P 500 and Nasdaq have each slipped more than 2%.

— Alex Harring

Bank of America sees good news in the week ahead for equities, with risk skewed to the upside. “Our economists see no sign of stagflation and expect a continued manufacturing recovery and strong job growth, which should be positive for stocks,” wrote strategist Ohsung Kwon in a note from Monday. Kwon elaborated that this week’s manufacturing report should indicate that the manufacturing recession has ended. Additionally, Friday’s April jobs report is also likely to indicate strength and “little sign of slowing momentum in the labor market,” the strategist noted.

— Lisa Kailai Han

The three major indexes kept their advances as traders geared up for the last hour of Monday’s trading day. The Dow traded up by about 0.3% shortly before 3 p.m. ET. The S&P 500 and Nasdaq Composite advanced around 0.2% and 0.3%, respectively.

— Alex Harring

Lilly Biotechnology Center is shown in San Diego, California, U.S. March 1, 2023.

Mike Blake | Reuters

Summary

Investors are eager to see how Eli Lilly’s new anti-obesity drug Zepbound is performing, and they’ll find out more on Tuesday morning when the company’s first-quarter results hit the tape. The highly anticipated medication only arrived at drugstores in December, so it’s still early days. Analysts are watching several key metrics closely, with the biggest issue remaining how quickly can Lilly ramp up its manufacturing capacity. Analysts have been watching prescription trends carefully and the data suggests there’s a risk to Lilly hitting the consensus estimates. According to a LSEG survey, analysts expect Lilly will earn $2.46 per share on revenue of $8.92 billion. The stock is up more than 25% year to date.

–Christina Cheddar Berk

A Chipolte restaurant stands in Manhattan on February 06, 2024 in New York City. Chipotle Mexican Grill (CMG) reports Q4 and full-year results late Tuesday.

Spencer Platt | Getty Images

Summary

Sixteen stocks in the S&P 500 hit new 52-week highs during Monday’s trading session. Of these names, nine stocks traded at their new all-time highs. These included: Chipotle Mexican Grill trading at all-time-high levels back to its initial public offering in January 2006, Royal Caribbean trading at all-time-high levels back to its IPO in April 1993, Tractor Supply trading at all-time highs back to its IPO in 1994 after being taken private by an LBO in 1982, Goldman Sachs trading at all-time-high levels back to its IPO in May 1999, Carrier Global trading at all-time highs back to its spin-off from United Technologies in March 2020, Leidos Holdings trading at all-time-high levels back to the SAIC IPO in October 2006, Trane Technologies trading at all-time-high levels back through Ingersoll Rand’s history, before its recent merger with Gardner Denver, Veralto trading at all-time highs back to its spin-off from Danaher in October 2023, and Amphenol trading at all-time-high levels since its IPO in 1991.

— Lisa Kailai Han, Christopher Hayes

Summary

Communication services stocks bucked the market’s advance on Monday. The S&P 500 sector fell nearly 2%, making it the only of the 11 that comprise the broad index not tracking to end near flat or with gains. By comparison, the average as a whole added about 0.3% in afternoon trading. Losses of about 3% and 2.2% in Alphabet and Meta, respectively, dragged on the sector. Those slides mitigated notable gains seen elsewhere. Paramount climbed more than 3%, while AT&T and Charter each rose more than 2%. On the other end of the spectrum, the consumer discretionary and utility sectors led the S&P 500 higher. Each advanced more than 1% in the session.

— Alex Harring

Shares of Alphabet dipped about 3% on Monday, giving back some of the post-earnings pop from Friday, when the stock rose more than 10%. The Google parent was one of several tech stocks that saw big one-day moves immediately following earnings reports last week. Technical analysts will be watching to see if the “gaps” created by those big moves can hold.

— Jesse Pound

Here are some of the companies making headlines during midday trading:

• Tesla – Shares rocketed more than 10% after the electric car maker passed a significant milestone to roll out its full self-driving technology in China.
• SoFi Technologies – The consumer fintech company’s stock price plunged about 10% on disappointing second-quarter earnings…
• Roku – The TV streaming distributor popped more than 3% following an upgrade to buy from neutral at Seaport Research Partners. Analyst David Joyce said investors have oversold the stock based on fears of streaming competition, and Roku’s risk/reward looks attractive…

For the full list, read here.

— Pia Singh

Oil field with rigs and pumps at sunset.

Anton Petrus | Moment | Getty Images

Summary

Crude oil futures fell by $1 on Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a broader conflict in the Middle East that disrupts crude supplies. West Texas Intermediate futures were down $1.15, or 1.37%, at $82.70 a barrel. Brent futures fell $1.15, or 1.28%, to $88.35 a barrel. U.S. crude oil and the global benchmark have gained more than 14% this year.

— Spencer Kimball

Tesla was on pace for its best session in more than three years after clearing a key hurdle in its path to fully rolling out driver-assistance technology in China. The electric vehicle maker last traded higher by about 17% shortly before 12:15 p.m. ET.

Small-cap stocks outperformed on Monday, offering a bright spot amid a tough period. The Russell 2000 climbed 0.7% in late morning trading, while the broad S&P 500 added just about 0.3%.

Traders work on the floor of the New York Stock Exchange during morning trading on April 29, 2024.

Michael M. Santiago | Getty Images News | Getty Images

Summary

Despite last week’s rally and Monday’s advance, the three major averages are still tracking to end April in the red. The Dow is slated to end the trading month, which concludes with Tuesday’s closing bell, down more than 3%. The S&P 500 and Nasdaq have each dropped more than 2%. But the three indexes still have gains for the year, underscoring the strength of the first-quarter climb. April would mark the first negative month for … continued in full original article: Continue Reading

Regional bank stocks and ETFs were trending slightly higher on Monday.

Summary

The S&P 500 is still in for a tough time ahead even after last week’s bounce, according to BTIG. Last week, the broad market index had gained 2.7% to snap a three-week losing streak. However, BTIG’s Jonathan Krinsky expects there are further losses in store for equities, citing weakness in momentum indicators. He noted the weekly Moving Average Convergence/Divergence, or MACD, had flashed a sell signal for the first … continued in full original article: Continue Reading

Summary

The three major averages kicked off Monday’s session in the green. The Dow rose about 0.3% shortly after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite advanced 0.4% and 0.6%, respectively.

— Alex Harring

Paramount saw shares climb more than 5% in premarket trading after reports that its board is preparing to fire CEO Bob Bakish as soon as Monday morning.

Here are the stocks making the biggest moves in premarket trading:

• Tesla – Shares rocketed more than 10% during premarket trading after the electric vehicle company said on Sunday that local Chinese authorities removed restrictions on its cars.
• Paramount – The entertainment company saw shares climb more than 5% in premarket trading after reports that its board is preparing to fire CEO Bob Bakish as soon as Monday morning.
• Domino’s Pizza – Shares of the pizza chain jumped more than 5% after a first-quarter earnings beat. U.S. same-store sales growth increased year over year.

For more big movers, read the full article here.

— Tanaya Macheel

Summary

Crude oil futures fell by $1 on Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a broader conflict in the Middle East that disrupts crude supplies. West Texas Intermediate futures were down $1.15, or 1.37%, … continued in full original article: Continue Reading

U.S. shares of Philips surged more than 40% in premarket trading after settling injury cases related to the recall of some sleep apnea devices. The Netherlands-based health technology company agreed to a $1.1 billion settlement for two personal injury claims connected to the recall. Millions of these machines were recalled in 2021 over concerns that components had potential cancer risks.

An employee takes an order on the phone at a Domino’s Pizza in Jersey City, New Jersey.

Craig Warga | Bloomberg | Getty Images

Summary

Shares of Domino’s Pizza surged more than 4% in premarket trading after a solid first-quarter report. Domino’s reported $3.58 in earnings per share, beating the $3.39 projected by analysts, according to LSEG. Revenue of $1.08 billion was in line with expectations.

The S&P 500 is still in for a tough time ahead even after last week’s bounce, according to BTIG. Last week, the broad market index had gained 2.7% to snap a three-week losing streak. However, BTIG’s Jonathan Krinsky expects there are further losses in store for equities, citing weakness in momentum indicators. He noted the weekly Moving Average Convergence/Divergence, or MACD, had flashed a sell signal for the first time since September.

Summary

The three major averages kicked off Monday’s session in the green. The Dow rose about 0.3% shortly after 9:30 a.m. ET. The S&P 500 and Nasdaq Composite advanced 0.4% and 0.6%, respectively.

— Alex Harring

Paramount saw shares climb more than 5% in premarket trading after reports that its board is preparing to fire CEO Bob Bakish as soon as Monday morning.

Here are the stocks making the biggest moves in premarket trading:

• Tesla – Shares rocketed more than 10% during premarket trading after the electric vehicle company said on Sunday that local Chinese authorities removed restrictions on its cars.
• Paramount – The entertainment company saw shares climb more than 5% in premarket trading after reports that its board is preparing to fire CEO Bob Bakish as soon as Monday morning.
• Domino’s Pizza – Shares of the pizza chain jumped more than 5% after a first-quarter earnings beat. U.S. same-store sales growth increased year over year.

For more big movers, read the full article here.

— Tanaya Macheel

Summary

Crude oil futures fell by $1 on Monday as the U.S. Secretary of State made a renewed diplomatic push in the Middle East to secure a cease-fire in Gaza and head off an Israeli offensive against Rafah. A successful cease-fire agreement would likely further ease the geopolitical risk premium factored into oil prices on fears that the war in Gaza could trigger a broader conflict in the Middle East that disrupts crude supplies. West Texas Intermediate futures were down $1.15, or 1.37%, at $82.70 a barrel. Brent futures fell $1.15, or 1.28%, to $88.35 a barrel. U.S. crude oil and the global benchmark have gained more than 14% this year.

— Spencer Kimball