Stock Market Today: Live Updates

1 Min Ago

UBS expects S&P 500 earnings to grow 7.4% in the second quarter

The S&P 500 could see profits rise as much as 7.4% after second-quarter results were released on Wall Street on Friday, according to UBS.

“Assuming a typical pace of revisions/surprises, growth is likely to end at 10.5-11.0%,” UBS strategist Jonathan Golub wrote on Monday. “In contrast, EPS growth is expected to be 5.0% and 2.0% when measured on an equal-weighted basis or when TECH+ stocks are excluded.”

—Brian Evans

36 minutes ago

US crude oil drops 1% as market monitors impact of Hurricane Beryl

U.S. crude oil prices fell 1% on Monday as traders closely monitored the impact of Hurricane Beryl on Gulf Coast refining, production and export infrastructure.

Beryl made landfall near Matagorda, Texas, as a Category 1 hurricane with maximum sustained winds of 80 mph, according to the National Hurricane Center. Matagorda is about 150 miles northeast of Corpus Christi, a major U.S. crude oil export facility.

Shell has halted production and evacuated personnel from its Perdido platform, about 200 miles (320 kilometers) south of Galveston, the company said in a statement on Friday.

—Spencer Kimball

48 minutes ago

Stocks open higher

Stocks opened higher on Monday as investors brace for inflation data and the start of the second-quarter earnings season this week.

The S&P 500 and the Nasdaq Composite rose 0.1%, while the Dow Jones Industrial Average gained 144 points, or 0.3%.

—Brian Evans

2 hours ago

Stocks Making the Biggest Moves Before the Market

See which companies are making news before the bell rings.

Morphic Holding — Shares jumped more than 75% on news that Eli Lilly will acquire the biopharmaceutical company in a $3.2 billion deal. The deal gives Eli Lilly access to Morphic’s portfolio of treatments in development, such as those for ulcerative colitis and Crohn’s disease. Shares of Eli Lilly rose 0.2% on the news.

Paramount Global – Shares rose 2% after it was announced Sunday that the media and entertainment company had reached an agreement to merge with Skydance Media.

SolarEdge — The energy company rose 5% after Bank of America upgraded the stock to neutral from underperform, signaling an attractive entry point for investors. However, the company said it is looking for “more tangible” margin and cash flow recovery.

The full list can be found here.

— Hakyung Kim

5 hours ago

French stocks rise as left-wing coalition secures surprise election victory

French shares rose on Monday as markets reacted to the left’s surprise victory in the country’s parliamentary elections.

The CAC 40 erased earlier losses and rose 0.5% at 10 a.m. London time (5 a.m. ET). The euro was flat against the dollar and bond market trading was also relatively muted.

According to François Digard, head of French equity research at Kepler Cheuvreux, the market expected a stalemate in parliament.

“You have a stalemate in parliament as expected, so last week the market showed that as well… It was expected that it would only go more right-wing, but in the end it went left-wing,” he told CNBC on Monday.

Read the whole story here.

—Katrina Bisschop

8 hours ago

Boeing agrees to plead guilty

Boeing has agreed to plead guilty to a criminal fraud charge, months after federal prosecutors alleged the planemaker violated a 2021 settlement that shielded the company from prosecution.

Under the deal announced Sunday night, Boeing would pay a $243.6 million fine, install an independent compliance monitor for three years and invest at least $455 million in compliance and safety programs. The agreement must be approved by a federal judge before it takes effect.

In 2021, Boeing reached a $2.5 billion settlement with the Justice Department over charges related to the deadly 737 Max crashes. The agreement included the original $243.6 million criminal fine, compensation to airlines and a $500 million fund for victims’ families. A lawyer for victims’ families said he plans to ask a federal judge in the case to reject the deal and set the case for a public trial.

— Leslie Josephs, Christine Wang

6 hours ago

European stock markets open higher

European shares rose in morning trading on Monday as markets reacted to an expected stalemate in the French parliament following a surprise victory for a left-wing coalition of parties.

France’s CAC 40 pared earlier losses and rose 0.2% at 8:35 a.m. London time (3:35 a.m. ET). The euro was flat against the dollar.

16 hours ago

Stock futures open lower

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