Dow Jones Futures: Apple AI Push, Fed Rate Outlook Lead 8 Big Market Events
Dow Jones futures, along with S&P 500 futures and Nasdaq futures, experienced a slight dip on Sunday night. This movement comes amidst significant market events, including a notable Apple AI push, the Tesla shareholder meeting, and the latest Federal Reserve rate outlook “dot pot”.
Eli Lilly faces an FDA panel review, while key earnings reports are expected from Oracle, Adobe, and Broadcom in the upcoming week. The stock market rally last week saw the Nasdaq and S&P 500 hitting record highs, despite the Russell 2000 retracting below the 50-day line. Notably, Nvidia surged to a record high, crossing a $3 trillion valuation and surpassing Apple stock.
S&P 500 announced a rebalance, with CrowdStrike, KKR, and GoDaddy joining the index while Robert Half, Comerica, and Illumina are set to exit. Dell Technologies and Palantir Technologies experienced slight declines as possible S&P 500 picks.
In current market movements, Dow Jones futures are slightly lower compared to fair value, with the 10-year Treasury yield seeing a slight rise. The stock market rally showed mixed but strong performance, with the Dow Jones Industrial Average, S&P 500 index, and Nasdaq composite all hitting all-time highs. Notably, Nvidia stock outperformed Apple stock, setting a new market cap record.
Apple is gearing up for its annual Worldwide Developers Conference, where it is expected to make a significant AI push. Meanwhile, Tesla’s shareholder meeting is expected to address key proposals and decisions that could impact the company’s future.
On the horizon, an FDA advisory panel will review Eli Lilly’s experimental Alzheimer’s drug, Fed meeting outcomes and CPI inflation data are anticipated, and Big Tech earnings reports from Oracle, Broadcom, and Adobe are eagerly awaited.
As the market rally continues, it’s essential for investors to assess their portfolios, watch market trends closely, and stay informed about leading stocks and sectors. Keeping an eye on key market events and adjusting strategies accordingly will be crucial in navigating the current market landscape.