Key Takeaways
- U.S. equities gained at midday Monday, July 1, 2024 as the third quarter and holiday-shortened trading week kicked off.
- Tesla shares surged ahead of its latest report on deliveries, due for release Tuesday.
- Cruise line stocks fell amid concerns about the impact of Hurricane Beryl in the Caribbean.
U.S. equities gained at midday Monday, as the third quarter and a holiday-shortened trading week kicked off, with the tech sector giving a boost to the Nasdaq.
Tesla (TSLA) shares surged ahead of its latest report on deliveries, due for release Tuesday, and after several Chinese rivals including Nio (NIO) posted strong results.
Boeing (BA) shares rose after the plane maker agreed to pay $4.7 billion to reacquire parts provider Spirit AeroSystems (SPR). Spirit Aero Systems shares also gained.
Shares Donald Trump’s Trump Media & Technology Group (DJT) climbed after it was announced that the owner of the Truth Social platform has been added to the Russell 3000 and Russell 1000 indexes as part of their annual adjustments. Separately, the Supreme Court also ruled that presidents have limited immunity from prosecution in a case involving the former president.
Cruise line stocks including Norwegian Cruise Line (NCLH) fell amid concerns about disruptions from Hurricane Beryl, which is heading through the Caribbean.
TH International (THCH) or Tims China shares lost ground after Restaurant Brands International (QSR) said it purchased its Popeyes China business and announced an investment in the firm. Restaurant Brands International shares also slid.
Oil futures rose and gold prices declined. The yield on the 10-year Treasury note climbed. The U.S. dollar was higher versus the pound and yen, but lost ground to the euro. Most major cryptocurrencies traded in the green.
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