Dow, S&P, Nasdaq hit records ahead of bank earnings Tuesday
JPMorgan and Goldman Sachs will kick off bank earnings Tuesday
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Cresset Capital founder Jack Ablin and Payne Capital Management's Courtney Dominguez join 'Making Money with Charles Payne'
U.S. stocks rose across the board as investors position themselves ahead of key inflation data and earnings from the likes of JPMorgan and Goldman Sachs, both due Tuesday.
The Dow Jones Industrial Average rose over 130 points or 0.37%, while the S&P 500 and Nasdaq Composite gained 0.35% and 0.21%, respectively. All three of the major averages closed at fresh record highs.
INFLATION FEARS HIT HIGHEST LEVEL SINCE JUNE 2013: NY FED
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 42056.12 | +261.52 | +0.63% |
| SP500 | S&P 500 | 5756.78 | +44.09 | +0.77% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18359.534851 | +179.55 | +0.99% |
Disney shares led the Dow after confirming ‘Black Widow’ pulled in $215 million globally at the Weekend Box Office. The benchmark is inching closer to the key 35,000 level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 95.79 | -0.02 | -0.02% |
Virgin Galactic shares, reversed morning gains, after floating a potential $500 million stock sale after billionaire Richard Branson blasted successfully into orbit. The stock fell over 17% nearly matching its worst drop on record when it fell 18.9% in March of last year.
BLUE ORIGIN RELEASES SPACE FLIGHT DETAILS FOR BEZOS AND PASSENGERS
Next up, Amazon founder Jeff Bezos is set to take off next Tuesday with Blue Origin releasing early details of the flight.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 6.42 | -0.19 | -2.87% |
| UFO | PROCURE ETF TRUST II PROCURE SPACE ETF | 19.87 | +0.10 | +0.51% |
| ARKX | ARK ETF TRUST SPACE EXPLORATION & INNOVAT | 16.58 | +0.23 | +1.41% |
Johnson & Johnson shares slipped-on reports the Food & Drug Administration will issue a warning over its COVID-19 vaccine and possible links to Guillain-Barre Syndrome reported two weeks after the shot.
Also, Tesla shares rose as CEO Elon Musk testified in person over the $2.6 billion acquisition of Solar City after some shareholders disputed the deal.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 242.84 | -6.14 | -2.47% |
Earnings from the big banks, including Wells Fargo, will kick off tomorrow, with one-quarter of the financial firms reporting this week. Charles Schwab will report on Thursday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 220.85 | +1.07 | +0.49% |
| GS | THE GOLDMAN SACHS GROUP INC. | 511.47 | -7.88 | -1.52% |
| WFC | WELLS FARGO & CO. | 63.70 | -0.98 | -1.52% |
| SCHW | THE CHARLES SCHWAB CORP. | 70.96 | +0.02 | +0.03% |
Other key earnings will come from Delta Airlines on Wednesday and American Outdoor Brands Thursday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 56.89 | -1.50 | -2.57% |
| AOUT | AMERICAN OUTDOOR BRANDS INC. | 8.80 | -0.16 | -1.79% |
In commodities, oil fell 46 cents per barrel or 0.62% to $74.10. While gold lost $4.50 per troy ounce or 0.25% to $1805.50.
Overseas, European markets all closed with gains as the FTSE 100 Index rose 3.54 points or 0.05% to 7125.42, Germany's DAX gained 102.58 points or 0.65% to 15790.51, France's CAC gained 29.83 points or 0.46% to 6559.25. While the EURO STOXX 50 Index ended up 25.29 points or 0.62% to 4093.38.
Asian stocks also advanced with the NIKKEI 225 Index rising 628.60 points or 2.25%, the Shanghai Composite Index up 23.75 points or 0.67%, and the Hang Seng Index is up 170.70 points or 0.62%.