22 Mins Ago
S&P 500, Nasdaq close higher
The S&P 500 closed higher on Monday, alongside the Nasdaq Composite, as July trading began.
The broad market index added 0.27% to close at 5,475.09, while the technology-heavy Nasdaq gained 0.83% to 17,879.30. The Dow Jones Industrial Average inched 0.13%, or 50.66 points, higher, to finish the session at 39,169.52.
— Brian Evans
39 Mins Ago
Small caps lag
Small-cap stocks retreated on Monday, putting their marginal year-to-date gain at risk.
The small cap-focused Russell 2000 slipped nearly 1% in the session, while the broad S&P 500 ticked higher by around 0.3%.
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Russell 2000 vs. S&P 500, 1-day
Monday’s moves reflect the challenging environment for smaller names in the market this year. While the S&P 500 has surged more than 14% in 2024, the Russell 2000 was last up just 0.1% on the year.
— Alex Harring
45 Mins Ago
Wall Street starts coverage of Israel’s Gauzy after June IPO — and it falls another 10%
Gauzy Ltd., an Israeli maker of “smart glass” technology that changes glass from opaque to clear and allows privacy and temperature controls, dropped as much as 10% intraday Monday after the three Wall Street investment banks that brought it public began research coverage less than a month after its $17-per-share initial public offering.
Gauzy had already tumbled 29% from its IPO through Friday’s close. On Monday, Barclays, the lead book-runner for the Gauzy IPO, rated it a new overweight, with a $24 price target, calling it “a compelling growth story with multiple ways to win” that has “exposure across a wide set of customers and multiple end markets” underpinning 30% compound annual growth in revenue.
TD Cowen, which began coverage of Gauzy on Monday with a buy and $24 price target, and Stifel (buy, $18 target), both served as book-running managers for Gauzy’s IPO on June 6.
— Scott Schnipper
52 Mins Ago
Buffer ETFs could benefit from election uncertainty
Investors with newfound nerves around the presidential election may be candidates to turn to structured product ETFs that offer downside protection, in exchange for…
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