Expect the S&P to reach 7,000 by year-end, says Sanctuary Wealth's Mary Ann Bartels
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Morning Movers: Cleveland-Cliffs rallies after second quarter earnings release
Stock futures have inched higher, driven by optimism over potential U.S.-EU trade progress and the start of a busy earnings week featuring top tech names like Alphabet and Tesla. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. In commodities and bonds, yields eased slightly as investors embraced calming signals: Treasury yields dipped to 4.38% on the 10-year, the dollar weakened, and gold held steady amid easing tariff jitters. In pre-market trading, S&P 500 futures rose 0.19%, Nasdaq futures rose 0.18% and Dow futures rose 0.21% Check out this morning's top movers from around Wall Street, compiled by The Fly and subscribe to the pre-market Fly By on YouTube. HIGHER – Dynamix (DYNX) up 30% after The Ether Machine announced its public launch through a definitive business combination agreement between The Ether Reserve and the company Block (XYZ) up 9% after S&P 500 addition UP AFTER EARNINGS – Cleveland-Cliffs (CLF) up 4% Verizon (VZ) up 3% Domino's Pizza (DPZ) up 3% Roper Technologies (ROP) up 1% HBT Financial (HBT) up 1% LOWER – Evotec (EVO) down 12% after cutting its full-year revenue outlook Sarepta (SRPT) down 9% after reporting the FDA has placed a clinical hold on the company's investigational gene therapy clinical trials for limb girdle muscular dystrophy Stellantis (STLA) down 1% after reporting preliminary first half results and Q2 shipments Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on DYNX: Disclaimer & DisclosureReport an Issue The Ether Machine to go public through Dynamix business combination Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
23 minutes ago
- CNBC
Tech is growing problematically big for Wall Street
Tech is giving dotcom bubble vibes. Goldman Sachs' trading desk pointed out that the S & P 500 tech sector makes up more than a third of the index's total market cap — matching a record going back to 1999 and early 2000. "In total, the subsector boasts a market cap of ~$18.5trn – this subsector market cap size alone is larger than the entire market cap of every country outside of the U.S.," the trading desk said. Major market concentration in one sector is not new, even for this bull run. Despite some instances in which other sectors began outperforming, tech has remained the Wall Street stalwart during the run to record highs over the past few years. However, the current size of tech makes the broader market vulnerable to idiosyncratic pressures in the space. .SPX YTD mountain SPX year to date Tech could be under pressure in the next two weeks, as major names get set to report earnings . Alphabet is slated to post results Wednesday after the bell. Microsoft, Apple, Amazon and Meta Platforms are due out next week. The market will need to see strong numbers from these names for the S & P 500 to continue its march to record levels. The benchmark on Monday posted fresh all-time closing and intraday highs. On top of that, the rest of the S & P 500 may be showing signs of fatigue. The Invesco S & P 500 Equal Weight ETF (RSP) closed lower on Monday, as it gave up an earlier gain for the day. To be sure, one day doesn't make a trend. But if the S & P 500 ex-tech slides and the rest of the market can't pick up the slack — it could be trouble ahead for investors.
CNBC
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Former Fed Chair Janet Yellen: Markets rely on the independence of the Fed
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