Dow Gains for Se𒊎cond Straight Session Ahead of Earnings,✤ Inflation Reports

The 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average gained 54 points, or 0.16%, rising for the second consecutive session as investors braced for 澳洲幸运5开奖号码𝓡历史查询:a week that includes fresh inflation data, retailer earnings, a pཧivotal summit between the U.S. and China, and a debt-ceiling deadline in Congress. 

Boeing (BA) shares jumped 4% after reports suggested China may lift its ban on the 737 Max jetliner, which has been grounded in the country since 2018. Shares were also boosted by the announcement that UAE-based airline Emirಌates would buy 95 Boeing passenger jets for $52 billion.

Shares of the Walt Disney Co. (DIS) rose 1.3% as the media giant continued to climb after last week’s earnings report showed strong s🍃ubscribe🐬r growth for its streaming service. 

Merck & Co. (MRK) shares gained 1% as t🔯he health sector moved higher by 0.6%. 🅷

Walmart (WMT) shares moved up by 0.9% ahead of the retail giant’s earnings report Thursday morning. Walmart is one of several retailers reporting quarterly earnings this week, including fellow Dow 30 member Home Depot (HD), shares of which lost 1𝓀.2% ahead of its earnings report before markets open tomorrow.

Nike (NKE)  share𝓰s fell 1.8%, the footwear maker’s꧒ third straight session of declines. 

Intel (INTC) shares lost 1.6% and Apple (AAPL) shares declined by 0.9%.

Shares of Walgreens Boots Alliance (WBA) fell 0.5% to $20.17, their lowest close since 1998.

-Terry Lane

ExxonMobil Shares Rise as Constructio🍌n Unde𒉰rway on New Lithium Well in Arkansas

ExxonMobil (XOM) on Monday said work has started on the 澳洲幸运5开奖号码历史查询:c♓onstruction of a lithium well in Arka😼nsas, as the energy giant plans to become a leading producer of the critic🎃al metal used in batteries for electric vehicles (EV). Shares gained 1%.

Production is slated to beg🐈in in 2027, and could establish ExxonMobil as a key supplier for the EV market as well as a൲ major corporate player in the clean energy transition.

"Lithium is essential to the energy transition, and 澳洲幸运5开奖号码历史查询:ExxonMobil has a leading role to play in paving the way for electrification," Dan Ammann, president of ExxonMobil Low Carbon Solutions, said in a press release Monday.

Amman called the project a "win-win-win," in terms of "enhancing North American energy security, expanding supplies of a critical industrial material, and enabling the continued reduction of emissions."

-Mack Wilowski

Nvidi♛a Stock Headed for Longes🐻t Winning Streak Since 2016

Shares of Nvidia (NVDA) were more than 1% higher about an hour before the closing bell, putting the stock on track to close higher for its ninth co🍸nse💖cutive session, its longest winning streak since December 2016. 

The world’s most valuable semiconductor company earlier today unveiled the H200, its newest advanced semi♋conductor for trainin💫g artificial intelligence models. 

The company is a leader in developing chips for running AI, interest in which has caused its share price to more than double t💫his year alone. Trading at $489 Monday afternoon, shares were less than 1% off their highest-ever close of $493.55, reached in late August. Nvidia is expected to show a surge in sales when it reports quarterly earnings on Nov. 21.

Midday Mover

Tesla Inc. (TSLA): Shares of the electric vehicle maker gained more than 4% after ൲the British gas station operator EG Group said it would outfit its stations across Europe with Tesla’s 𝕴fast chargers. 

Illumina Inc. (ILMN): Shares of the genetic analysis company fell nearly 5%, continuing to slide after reporting worse-than-expected quarterly results last Friday. The c💖ompany also cut its full-year outlook, citing less demand as clients grow more cautious about spending.

Albemarle Corp. (ALB): Shares of the lithium miner fell more than 1% after oil giant ExxonMobil (XOM) said it would enter the lithium business, with the goal of producing and ღselling lithium for electric vehicle batterie✨s starting in 2027. Exxon shares rose about 1%.

Alphabet Inc. (GOOGL): Shares of Google's parent company fell slightly after an expert testifying in Alphabet’s anti-trust trial revealed the company pays Apple (AAPL) 36% of the search r⛦evenue it generates through Apple’s Safari browser📖. The revenue sharing agreement is one of the tactics prosecutors allege Alphabet uses to maintain its dominance in the search market.

Tyson Shares Fall on Falling Revenue🎐, Disappointing Out🌸look

Tyson Foods (TSN) shares were 3% lower Monday after the giant meat processor reported falling sales and 澳洲幸运5开奖号码历史查询:gave a weaker-than-expected outlook.

Tyson reported fourth-quarter fiscal 2023 澳洲幸运5开奖号码历史查询:earnings per share of $0.37, beating analysts’ estimates. Revenue dipped 2.8% from a year ago to $13.3 billion, short of forecasts.

Sales for b🦂eef, pork, and chicken all fell. Beef volume slumped 6.7%, and pork volume was down 0.2%, while chicken volume rose 1.7%. Average prices for all Tyson products declined by 1.4%.

The company indicated it projects fiscal 2024ಌ revenue to be about t🌳he same as in 2023, or $52.9 billion. That was about $1.5 billion less than analysts had been expecting.

Shar꧃es of Tyson Foods have lo൩st more than a quarter of their value this year.

-Bill McColl

Novo Nordisk ADRs Slip, Medical Device Makers R🗹ise Despite Wegovy Data

Shares of Novo Nordisk (NVO) slipped Monday mor🐼ning while the stocks that its blockbuster weight-loss drugs Wegovy and Ozempic torpedoed earlier this year rose. 

That’s despite research presented and published over the weekend that showed taking Wegovy, Novo Nordisk’s glucagon-like peptide (GLP-1) agonist indicated for weight loss,♍ slashed the risk of heart attack, stroke, and death in patients with obesity and heart disease. The resea💯rch could expand the use of the breakthrough drug. 

The market, though, may have already priced the study’s findings in, since Novo Nordisk shared headline results of the trial on August 8, sending its 澳洲幸运5开奖号码历史查询:shares surging nearly 20%. 

Instead, investors bid up the price of stocks like dialysis provider DaVita (DVA), up nearly 8%, and medical device makers Insulet (PODD) and DexCom (DXCM), up 7% and 4%, respectively. 

Still, Novo Nordisk's American depositary receipts have risen more than 50% year-to-date, dramatically outperforming DaVita (+15%), Insulet (-47%), and DexCom (-17%).

Boeing Lifts Dow at Start of 2023 Dubai Airshow

Shares of aircraft maker Boeing Co. (BA) jumped more than 4% early Monday, giving the Dow a boost, after receiving an eye-popping order from Emirates at the outset of the 20🌃23 Dubai Airshow. 

The Dubai-based airline Emirates on Monday ordered 90 of Boeing’s largest twin-engine jet, the fort🎃hcoming 777X, in a 🍌deal worth up to $52 billion. 

Shares were also given a boost by reports China is considering allowing local airlines to purchase and fly the Boeing 737 Max, which was first grounded more than 4 years ago after two fatal crashes. The decision, if made official, is expected to be announced this week at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting in San Francisco.

Morgan Stanley Seeꦐs S&P 500 Ending 2024 at 4,500

Analysts at Morgan Stanley see corporate earnings recovering next year, and a slightly higher S&P 500 as a resu𒀰lt.

The bank expects the S&P 500 to trade at a 17x 12-month forward EPS multiple, equating to a 4,500 price target a year from now. That means the firm sees little upside for the index, which traded at about 4,400 early Monday and in late Julꦦy traded at nearly 4,600.

Instead, there's "richer opportunity set under the surface of the market where valuations are more compelling than they are at the cap-weighted index level," the analysts wrote.

Stocks Making the Biggest Moves Premarket

Gains:

• Monday.com Ltd. (MNDY): Shares of the enterprise software company gained more than 10% after the company said it swung to a profit in the most recent quarter and raised its full-year sales and earnings outlook. 
• Boeing Co. (BA): Shares of the aircraft maker rose more than 3% after Dubai-based airline Emirates announced a $52 billion order at the start of the 2023 Dubai Airshow. 
• HP Inc. (HPQ): Shares of the computer hardware maker gained more than 1% after analysts at Citi upgraded the stock to “buy,” citing improvements in the PC market.
  

Losses:

• Tower Semiconductor Ltd. (TSEM): Shares of the chipmaker fell about 7% after it forecast fourth-quarter revenue of about $350 million, down about 13% from the prior year. 
• Tyson Foods Inc. (TSN): Shares of the packaged food company fell about 3% after its fiscal-fourth quarter revenue of $13.35 billion came in below analysts’s estimates.
• Southwest Airlines Co. (LUV): Shares of the regional airline fell about 2% on reports its pilot union, the Southwest Airlines Pilots Association (SWAPA), was preparing for a potential strike to expedite contract negotiations.

Futures Down Slightly at Start of Busy Wee🌺k of Economic Data

Futures connected to the Dow Jones Industrial Average were about 0.1%🔯 lower in premarket trading Monday.

S&P 50☂0 futures contracts traded aboꩲut 0.2% lower.

The Nasdaq 100 was on track to open in the🍎 read, with futures also down abou🌺t 0.2%.