Traders
walk
the
floor
during
morning
trading
at
the
New
York
Stock
Exchange
on
May
14,
2024.
Spencer
Platt
|
Getty
Images
Stock
futures
are
near
flat
Monday
night
after
the
technology-heavy
Nasdaq
Composite
closed
at
an
all-time
high.
Futures
connected
to
the
Nasdaq
100
slipped
about
0.1%.
Dow
Jones
Industrial
Average
futures
lost
just
19
points,
while
S&P
500
futures
also
sat
near
its
flatline.
In
after-hours
action,
Palo
Alto
Networks
dropped
roughly
8%.
While
beating
expectations
for
both
lines
in
the
fiscal
third
quarter,
the
cybersecurity
company
delivered
current-quarter
guidance
that
was
only
in
line
with
consensus
forecasts
of
analysts
polled
by
LSEG.
Those
moves
come
after
a
mixed
day
on
Wall
Street.
The
Nasdaq
Composite
notched
a
new
intraday
and
closing
high,
rising
about
0.7%.
The
index
was
lifted
by
Nvidia,
which
rallied
2.5%
as
investors
geared
up
for
the
artificial
intelligence
titan’s
Wednesday
earnings
report.
The
broad
S&P
500
inched
up
nearly
0.1%.
But
the
blue-chip
Dow
slipped
almost
200
points,
or
0.5%.
The
30-stock
index
was
dragged
down
by
a
4.5%
drop
in
JPMorgan
after
CEO
Jamie
Dimon
said
his
retirement
may
be
sooner
than
expected
and
that
the
financial
giant
would
not
repurchase
many
shares
at
their
current
prices.
Monday’s
action
follows
a
notable
week
on
Wall
Street
amid
renewed
hopes
about
the
state
of
inflation
and
monetary
policy.
The
Dow
ended
Monday’s
session
below
the
closely
watched
40,000
level,
after
closing
above
it
for
the
first
time
last
week.
“The
disinflation
story
is
still
intact,”
said
Keith Buchanan,
portfolio
manager
at
Globalt
Investments.
“The
market’s
going
to
continue
to
drift
higher
if
earnings
can
confirm
the
stickiness
of
the
corporate
profitability,”
he
added.
But
“that
could
lead
to
a
market
where
we
could
be
somewhat
range
bound,
perhaps
even
drift
lower.”
In
that
vein,
investors
will
monitor
speeches
from
several
Federal
Reserve
speakers
including
Governor
Christopher
Waller,
Richmond
Fed
President
Tom
Barkin
and
Atlanta
Fed
President
Raphael
Bostic.
Traders
will
be
watching
closely
for
any
insights
into
the
future
path
of
interest
rates.
Economic
data
on
nonmanufacturing
is
also
due
Tuesday.
On
the
earnings
front,
investors
will
follow
reports
expected
from
retailers
Lowe’s
and
Macy’s
before
the
bell.
