WBA - Nasdaq S&P 500 Futures Dip; Oil Bitcoin Surge As Traders Eye Key Catalysts: Why This Analyst Sees 'Good News' Ahead Despite Rocky 2024 Start | Benzinga
Monday’s stock rally, while impressive, may face a brief respite as index futures hint at a potential return to the downtrend on Tuesday. Traders are approaching the market with caution, evaluating the gains from the previous session. The upcoming days hold several crucial catalysts, with the focus shifting to the Wednesday release of the consumer price inflation report and Friday’s eagerly anticipated big bank earnings.
Despite the cautious mood, potential factors like a billion-dollar tech merger and the swirling optimism around a spot Bitcoin (CRYPTO: BTC) exchange-traded fund approval, coupled with the spike in oil prices, could inject some buying activity.
Cues From Monday’s Trading:
Monday witnessed a robust advancement in U.S. stocks, driven by a strong rebound in the technology sector, lifting the broader market. Both the S&P 500 Index and the Nasdaq Composite started on a positive note, steadily gaining momentum throughout the session and closing with substantial increases.
The Dow Industrials, comprising 30 stocks, initially faced a setback, primarily due to Boeing Co. (NYSE:BA) dragging down the index. This followed federal regulators’ recommendation to ground 737 Max 9s after an Alaska Air Group, Inc. (NYSE:ALK) plane experienced a midflight blowout. However, the index managed to recover from the early dip and concluded with a modest gain. Apple, Inc. (NASDAQ:AAPL), Intel Corp. (NASDAQ:INTC), Salesforce, Inc. (NYSE:CRM), and Walgreens Boots Alliance, Inc. (NASDAQ:WBA) spearheaded the rebound in the Dow.
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