S&P 500 Gainers and Decliners

Gainers

Tesla (TSLA) shares popped 6.1%, the top performance of any S&P 500 component on the first trading day of the third quarter. The strong day for Tesla came after fellow electric vehicle (EV) manufacturer Nio (NIO) announced an 澳洲幸运5官方开奖结果体彩网:a𒁏ll-time high 🀅for vehicle deliveries in June. The 澳洲幸运5官方开奖结果体彩网:American Deposi꧂tory Receipts (ADRs) of China-based Nio were up 6.7% on Monday. Tesla is set to report its own delivery figures 澳洲幸运5官方开奖结果体彩网:on Tuesday.

Merck (MRK) shares jumped 3.3% after the pharmaceutical giant announced that it will attain exclusive rights for the development and commercialization of opevesostat, a compound being investigated for the treatment of certain types of prostate cancer.

Shares of Apple (AAPL) gained 2.9% amid reports that the tech giant could raise prices for its high-end iPhones as a way of maintaining more attractive prices on lower-end models. According to Needham analysts, the strategy could help Apple broaden its user base without jeopardizing its relationship with high-end customers, who tend to be les▨s price sensitive. The possible price adjustments come amid reports that Apple has seen declines in its share of the U.S. and China smartphone markets.

Decliners

Shares of 澳洲幸运5官方开奖结果体彩网:cruise operators sank amid concerns that Hurricane Beryl, which has strengthened into a Category 4 storm, could disrupt voyages in the Caribbean. Norwegian Cruise Line Holdings (NCLH) shares plunged 5.9%, suffering the heaviest losses in the S&P 500. Carnival Corp. (CCL🐓) shares were not far behind, losing 5.4%. War𒁏m ocean temperatures have led meteorologists to forecast an active hurricane season this year.

Elsewhere in leisure stocks, casino shares slipped. The declines in the gambling industry came after gross gaming revenue from Asian gaming hotspot Macau came in below consensus estimates in June to touch its lowest levels in 2024. Shares of Caesars Entertainment (CZR) were down 5%, while MGM Resorts (MGM) shares lost 3.6%.

Shares of Warner Bros. Discovery (WBD) fell 4.6% following reports that the entertainment giant could consider a merger between its popular Max service and the Paramount+ streaming platform owned by Paramount Global (PARA). Paramount Global fell 2.4%.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Tesla Shares Jump Ahead of Delivery Numbers

Tesla (TSLA) shares gained Monday,澳洲幸运5官方开奖结果体彩网: lifted by optimism that the electric vehicle (EV) maker will post 𝄹solid second-quarter delivery numbers tomorrow.

Chinese demand “is slowly turning around,” and a "mini rebound" occurred there for the company in the second quarter, according to Wedbush Securities analysts led by bull Dan Ives.

Visible Alpha's current consensus is for just under 439,000 deliveries; the company reported nearly 387,000 for 澳洲幸运5官方开奖结果体彩网:the first quarter.

Tesla's shares were up more than 6% in late trading, but were still down 15% so far in 2024.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

GameStop Stock Slides

Shares of GameStop (GME) fell more than 4% in intraday trading Monday as investors reacted to news about 澳洲幸运5官方开奖结果体彩网:Keith Gill, the investor known as "Roaring Kitty" who was one of the key drivers of the 澳洲幸运5官方开奖结果体彩网:meme-stock craze of late 2020 and early 2021.

Gill is facing a potential 澳洲幸运5官方开奖结果体彩网:class-action lawsuit, filed late last week, over alleged manipulation of GameStop's share price. Investors may also think Gill has moved on from the video-game retailer after 澳洲幸运5官方开奖结果体彩网:news of his 6.6% stake in online pet store Chewy (CHWY).

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Trump Media Rises as Stock Joins Pair or Russell Indexes

Trump Media & Technology Group (DJT) shares rose in intraday trading Monday after the owner of the Truth Social platform 澳洲幸运5官方开奖结果体彩网:has been added to the 澳洲幸运5官方开奖结果体彩网:Russell 3000 and 澳洲幸运5官方开奖结果体彩网:Russell 1000 indexes as part of their annual adjustments.

The media company of the former president will be a part of the indexes until the 澳洲幸运5官方开奖结果体彩网:next annual rebalancing that takes place in June. This year's adjustments were finalized after markets closed Friday and w൩ere eꦗffective Monday morning, with dozens of other companies also joining the indexes along with Trump Media.

The Russell 3000 tracks the largest companies that trade on U.S. stock exchanges by 澳洲幸运5官方开奖结果体彩网:market capitalization, and is the basis for the smaller 澳洲幸运5官方开奖结果体彩网:Russell 2000 and Rus♐sell 1000 indexes, which track the bottom two-thirds and top third of the 🐻larger index, respectively.

Trump media shares have experienced significant 澳洲幸运5官方开奖结果体彩网:volatility since the company merged with Digital World Acquisition Corp. and 澳洲幸运5官方开奖结果体彩网:became a public company in March.

EV Makers Get Boost From Nio's Record Deliveries

Nio's (NIO) shares jumped Monday after 澳洲幸运🍒5官方开奖结果体彩网:the Chinese🎉 electric vehicle maker reported a second-straight month of record deliveries. The news ♒lifted shares🌼 of rival EV manufacturers.

Nio said it delivered 21,209 vehicles in June, a near-doubling from last June's number and a record high.

Nio's U.S.-listed American Depositary shares were recently up more than 5%. Those of Li Auto (LI) and XPeng (XPEV) alsꦰo advanced as those EV firms also announced deliverie♌s.

Shares of Tesla (TSLA) and Rivian Automotive (RIVN) were also higher. Rivian secured a 澳洲幸运5官方开奖结果体彩网:multibillion-dollar investment from Volkswagen last week.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Key S&P 500 Levels to Watch

The large-cap 澳洲幸运5官方开奖结果体彩网:S&P 500 added 3.9% in the 澳洲幸运5官方开奖结果体彩网:second quarter, driven by 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI)-themed stocks, from chipmakers developing sophisticated processors that power the techn🎶ology to utilities companies providing electricity for energy-hungry data centers that house 💫AI infrastructure.

These are the 澳洲幸运5官方开奖结果体彩网:key chart levels worth watching out for in the quarter ahead.

The index broke out to a new 澳洲幸运5官方开奖结果体彩网:record high in mid-May and traded in a narrow channel for several🃏 weeks before continuing to trend higher throughout most of June. 

More recently. several 澳洲幸运5官方开奖结果体彩网:technical indicators point to slowing upward momentum. Firstly, a 澳洲幸运5官方开奖结果体彩网:bearish engulfing pattern appeared on the chart Friday. This price formation indicates a shift in 澳洲幸运5官方开奖结果体彩网:psychology among market participants and cautions of a potential reversal. Also, as the S&P 500 made a higher high last week, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) made a lower high to create a 澳洲幸运5官方开奖结果体彩网:technical divergence between the price and indicator, also suggestin♊g a weakening of longer𝓰-term buying pressure.

The first level to monitor sits at 5,340, an area on the chart that may find support from a 澳洲幸运5官方开奖结果体彩网:horizontal line that connects a series of price action between May and June. A move below this level could see the index revisit the key 5,250 region, where it would likely encounter buying interest near the 澳洲幸运5官方开奖结果体彩网:50-day moving average, which closely aligns with a horizontal trendline that has flipped from providing resistance to offering support. Finally, a more significant 澳洲幸运5官方开奖结果体彩网:retracement could see a test of the prominent mid-April 澳洲幸运5官方开奖结果体彩网:swing low at 4,954.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

Premarket Trading Movers

Gains:

• Chewy (CHWY): The online pet retailer is soaring 12% after Keith Gill, also known as “Roaring Kitty,” disclosed an ownership stake of about 6.5% of Chewy shares in an SEC filing. Gill’s posts on X, formerly Twitter, led followers to believe he had invested in Chewy or another pet-related company like Petco (WOOF).
• Spirit AeroSystems (SPR): Shares of the aerospace parts manufacturer are up 4.5% after Boeing (BA) 澳洲幸运5官方开奖结果体彩网:announced a deal has been finalized to reacquire the company.
• Li Auto (LI): The Chinese electric vehicle maker rose 3% as it was one of a number of EV makers to report delivery and production numbers for June Monday morning.

Losses:

• GameStop (GME): Shares of the video game retailer sank more than 7% as markets reacted to Gill’s disclosure of his Chewy shares. Other meme stocks like AMC Entertainment (AMC) and Tupperware (TUP) also traded lower.
• Micron Technology (MU): Micron is down 0.8%, continuing a downward trend that has been ongoing since its 澳洲幸运5官方开奖结果体彩网:disappointing earnings report last week affected its stock along with others in the tech world like Nvidia (NVDA).

Stocks Futures Higher to Kick Off Third Quarter

Futures contracts connected to tℱhe Dow Jones Industrial Average were up 0.2%.

S&P 500 futures were up 0.3%.

Nasdaq 100 futures also gained 0.3%.