The New York Stock Exchange saw a historic moment on Friday as the Dow Jones Industrial Average closed above the key 40,000 level for the first time ever. Traders on the floor were buzzing with excitement as the milestone was reached, signaling a strong market rally.
U.S. stock futures continued to rise on Sunday night, with futures tied to the Dow Jones rising by less than 0.1%. The S&P 500 and Nasdaq 100 futures also saw marginal gains, indicating a positive start to the upcoming trading week.
Tom Lee, head of research at Fundstrat Global Advisors, expressed confidence in the market’s short-term outlook, predicting that the rally would continue. He highlighted upcoming events such as the Microsoft Build event and Nvidia’s fiscal first-quarter results, which are expected to shine a spotlight on artificial intelligence names and drive further gains in the technology sector.
Several major companies, including Palo Alto Networks, AutoZone, Target, Analog Devices, Intuit, and Ralph Lauren, are set to report their earnings in the coming days. Additionally, investors will be keeping a close eye on economic data releases, such as existing home sales, jobless claims, and durable goods orders, as well as the minutes from the Federal Reserve’s April meeting.
Overall, the market is poised for continued growth and positive momentum as traders gear up for another exciting week of trading on Wall Street.
