CNBC Daily Open: Make way for the bull market?

Visitors round the Charging Bull statue close to the New York Stock Exchange on June 29, 2023.

Victor J. Blue | Bloomberg | Getty Images

This report is from at present’s CNBC Daily Open, our worldwide markets publication. CNBC Daily Open brings traders on top of things on every thing they should know, regardless of the place they’re. Like what you see? You can subscribe here.

What you should know at present

All-time excessive
S&P 500 closed at an all-time high on Friday, rising 1.23% to shut at 4,839.81, setting contemporary file intraday and shutting highs from January 2022. The Dow Jones Industrial Average, which set its personal file at the finish of final 12 months, added 395.19 factors, or 1.05%, to finish at 37,863.80. The Nasdaq Composite superior 1.70% to fifteen,310.97.

Macro triggers
The U.S. shall be releasing two large financial reviews this week which might give contemporary clues to which way the Federal Reserve might transfer. On Thursday, the Commerce Department shall be releasing its preliminary estimate of fourth quarter gross home product, and on Friday, the December studying of the private consumption expenditures value index — the Fed’s favored inflation gauge. 

DeSantis out
Florida Gov. Ron DeSantis dropped out of the 2024 presidential race two days earlier than the Republican New Hampshire major — endorsing front-runner Donald Trump, simply as different candidates did after they reduce their campaigns.

Dispirited journey
A federal decide’s order blocking a $3.8 billion-dollar deal that might have JetBlue Airways buy rival Spirit Airlines leaves Spirit with an uncertain future — hitting funds vacationers and the Arnold Palmer Regional Airport, an hour outdoors Pittsburgh, laborious.

[PRO] Earnings season
Tesla, Netflix, Intel and Alaska Air are amongst almost 70 S&P 500 corporations which are scheduled to report earnings this week. Just 69% of the roughly 52 S&P 500 corporations which have reported, in keeping with FactSet, have surpassed expectations.

The backside line

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