Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average wavered before ending higher Monday as investors prepared for a week of earnings reports and tried to read the Federal Reserve's thinking on whether it will to slash interest rates by 25 basis points or 50 basis points.
- Shares of Walt Disney (DIS) rose after the media giant's "The Lion King" took in $185 million of theater receipts in its debut weekend. Walt Disney is Real Money's Stock of the Day.
- Halliburton (HAL) advanced after the company posted adjusted second-quarter earnings that exceeded Wall Street's forecasts as strong oil prices helped bolster both domestic and international drilling.
Wall Street Overview
Stocks rose on Monday as investors prepared for a week of earnings reports from U.S. tech giants, reacted to a price target upgrade for Apple (AAPL) and tried to read the Federal Reserve's thinking on whether it will slash interest rates by 25 basis points or 50 basis points when it meets July 30-31.The Dow Jones Industrial Average wavered during the morning session before ending up 17.70 points, or 0.07%, at 27,171.90, the S&P 500 advanced 0.28% to 2,985.03 and the Nasdaq climbed 0.71% to 8,204.14.
House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin continued to negotiate throughout the weekend, and, as of late Sunday, discussions were focused on an extension of the debt limit for roughly two years, The Wall Street Journal reported, citing a person familiar with the talks.
It is far more costly for the Federal Reserve to cut deeper if the economy actually does, in the future, turn down! Very inexpensive, in fact productive, to move now. The Fed raised & tightened far too much & too fast. In other words, they missed it (Big!). Don't miss it again!— Donald J. Trump (@realDonaldTrump) July 22, 2019
"We are characterizing the Fed's next move as an 'insurance' cut," Glenmede Trust's investment strategy team said in a note, "meaning one that is not justified by slowing growth but is instead meant to provide a measure of protection from potential but unpredictable risks. Cross currents like a slowing manufacturing economy and ongoing trade tensions are two of those larger risks."
Shares of Walt Disney (DIS) were up slightly to $140.81 after the media giant's "The Lion King" took in $185 million of theater receipts in its debut weekend. Disney-owned Marvel Cinematic Universe's "Avengers: Endgame" became the highest-grossing picture of all time, raking in $2.8 billion globally. Walt Disney is Real Money's Stock of the Day.