Another Week, Another Index Record | Lkive Stock
Happy Monday, December 16th. The market climbed cautiously this morning after the Nasdaq hit a record trading high. The market awaits a busy week of macro data, with an FOMC rate decision this week, and PCE and GDP data on the way.
$Palantir (PLTR.US)$ was up 1.1%, $MicroStrategy (MSTR.US)$ rose 3%, and $Axon Enterprise (AXON.US)$ gained 0.2% as the three companies were added to the Nasdaq 100 index as part of its annual reconstitution. They will be replacing $Moderna (MRNA.US)$, $Super Micro Computer (SMCI.US)$, and $Illumina (ILMN.US)$.
MicroStrategy also climbed after Bitcoin grew to a new high of 106,648 Sunday evening.
Within industry themes tracked by moomoo, crypto stocks climbed on the news.
Elsewhere in the economy, $Crude Oil Futures(FEB5) (CLmain.US)$ stayed at 70/barrel. Gold and silver climbed, and treasuries fell.
Overall, the market climbed just slightly on Tuesday.
Just past 10:30 am ET the $S&P 500 Index (.SPX.US)$ traded +0.43%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.14%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 1%, hittinga new trading high of 22,004.
In macro, investors are expecting an FOMC rate cut of about 25 basis points Wednesday. Thursday brings GDP numbers and Friday the PCE.
Earnings reports are expected this week from Micron Technology, Fedex, Lennar, General Mills, Accenture, CarMax, Conagra Brands, Carnival, Jabil, Paychex, BlackBerry, Cintas, Darden Restaurants, Birkenst ock, Heico, Amentum Holdings, Winnebago Industries, Worthington Enterprises, Toro, and FuelCell Energy.
Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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