Stocks barely managed to hold onto their gains last week after several choppy trading sessions shook up the market. The blue-chip Dow Jones index led the pack with a 1.8% gain while the NASDAQ gained less than 0.1%. The S&P 500 advanced 0.6% and is coming close to its pre-pandemic highs.
The market is set to open the week in the green today with early morning futures action pointing towards a higher open. Trading volume continues to be thin, but that’s typical of late summer in the stock market.
In Asia, Japan’s Nikkei 225 closed 0.8% lower after economic data revealed the country suffered its worst contraction on record in the second quarter. Japanese GDP fell 7.8% in Q2 to mark the biggest decline since 1980. Meanwhile, China’s Shanghai index rallied 2.4% after the country’s central bank injected $101 billion into the banking system through its medium-term lending facility, a move that could possibly lead to lower interest rates.
European stocks are mostly in the green midway through their trading session. The British FTSE 100 is currently leading the way with a 0.4% gain, and the Eurozone Stoxx 600 is up a modest 0.2%.
This morning’s featured earnings slate includes JD.com (JD). After the close, look out for Dolphin Entertainment (DLPN).
These stocks are trading actively today.
