Nasdaq 100 E-Mini Futures Market News and Commentary
The S&P 500 Index ($SPX) on Monday closed down -0.94%, the Dow Jones Industrials Index ($DOWI) closed up +0.04%, and the Nasdaq 100 Index ($IUXX) closed down -2.16%.
U.S. stock indexes on Monday rallied early with the S&P 500 posting a 5-week high, the Dow Jones Industrials at a 3-week high, and the Nasdaq 100 at a new all-time high. However, an afternoon swoon left the indexes closing mostly lower on the day.
Stock indexes traded higher into early afternoon Monday on strength in technology and pharmaceutical stocks. Apple rose to a new record high early Monday before closing lower after Morgan Stanley raised its price target on Apple to $419 from $340. Pfizer rose more than +4% Monday to lead pharmaceutical stocks higher after it received a fast-track designation from the Food & Drug Administration (FDA) for two of its Covid-19 vaccine candidates that it has been developing with BioNTech. Increased M&A activity was also positive for stocks after Analog Devices agreed... Read more