Stock market steady; Salesforce jumps; Fed, earnings in focus.
The stock market had a mixed day on Monday, with the Dow Jones Industrial Average slightly gaining, while the S&P 500 and Nasdaq Composite were flat. Salesforce stock jumped after activist investor Elliott Management disclosed a stake in the company. Investors are keeping an eye on the Federal Reserve’s next policy move and a busy earnings week ahead.
U.S. stock futures were steady in the morning, with investors looking ahead to the Fed’s possible slowdown in its tightening cycle. The Wall Street Journal reported that investors should consider five things before the stock market opens on Monday. These include the Fed’s decision on interest rates, the impact of the coronavirus pandemic on the economy, the potential of a stimulus package, the upcoming earnings season, and the upcoming U.S. election.
Salesforce stock jumped after activist investor Elliott Management disclosed a stake in the company. Elliott said it is pushing for the company to focus on higher-margin products, improve its capital allocation, and take steps to improve its stock price. Salesforce said it would review Elliott’s suggestions and take them into consideration.
Yahoo Finance reported that stocks were wavering as a big earnings week began. Investors were weighing the Fed’s next policy move and awaiting a busy earnings week. Companies such as Microsoft, Apple, Amazon, Alphabet, and Facebook are set to report their quarterly earnings. Investors will be watching for signs of how the coronavirus pandemic has impacted their businesses.
CNBC reported that stock futures were flat as investors weighed the Fed’s next policy move and awaited a busy earnings week. The market is expecting the Fed to announce a possible slowdown in its tightening cycle. Investors will also be watching for the results of the upcoming earnings season and the possible impact of the U.S. election on the markets.