{"id":23332,"date":"2024-05-20T06:03:06","date_gmt":"2024-05-20T11:03:06","guid":{"rendered":"https:\/\/www.eoption.com\/morning-preview-may-20-2024\/"},"modified":"2024-05-20T06:03:06","modified_gmt":"2024-05-20T11:03:06","slug":"morning-preview-may-20-2024","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/morning-preview-may-20-2024\/","title":{"rendered":"Morning Preview: May 20, 2024"},"content":{"rendered":"\n
\n
\n

Early Look<\/span><\/b><\/p>\n

Monday, May 20, 2024<\/span><\/b><\/p>\n\n\n\n\n\n\n
\n

Futures<\/span><\/p>\n<\/td>\n

\n

Up\/Down<\/span><\/p>\n<\/td>\n

\n

%<\/span><\/p>\n<\/td>\n

\n

Last<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Dow<\/span><\/b><\/p>\n<\/td>\n

\n

11.00<\/span><\/p>\n<\/td>\n

\n

0.03%<\/span><\/p>\n<\/td>\n

\n

40,148<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

S&P 500<\/span><\/b><\/p>\n<\/td>\n

\n

6.25<\/span><\/p>\n<\/td>\n

\n

0.12%<\/span><\/p>\n<\/td>\n

\n

5,333<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Nasdaq<\/span><\/b><\/p>\n<\/td>\n

\n

37.50<\/span><\/p>\n<\/td>\n

\n

0.20%<\/span><\/p>\n<\/td>\n

\n

18,673<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/span><\/p>\n

 <\/p>\n

U.S. futures open the new trading week with modest gains, tracking European and Asian markets higher initially and building on last week\u2019s advances. The Dow Jones Industrial Average closed above 40K for first time ever Friday, while the S&P 500 booked its 4th straight weekly gain, rising 1.54%, the Nasdaq climbed 2.11%, and the Dow climbed 1.24%. Commodity prices continue to soar as gold and copper both hit record highs, with gold topping $2,440 an ounce and silver also rising. In Asian markets, The Nikkei Index rose 282 points to 39,069, the Shanghai Index gained 17 points to 3,171, and the Hang Seng Index rose 82 points to 19,636. In Europe, the German DAX is higher by 58 points to 18,762, while the FTSE 100 is up 20 points to 8,441. News sparse returning from the weekend with no major earnings on tap this morning or major economic data for that matter. One of the more interesting stories this morning is Mike Wilson, one of Wall Street\u2019s most prominent bears throwing in the towel, turning positive on the outlook for US stocks. Morgan Stanley\u2019s Michael Wilson now sees the S&P 500 rising 2% by June 2025, a major about turn from his view that the benchmark will tumble 15% by December. Wilson finally gave in and boosted his target for the S&P 500 to 5,400 points from 4,500. That catapults his forecast from among the lowest on Wall Street to one that projects a fresh record for the index. Lots of FOMO, and little to no market fear has major averages at or near all-time highs for most major indexes, with the likes of commodities, technology, industrials, utilities all near record bests. What can derail or even slow this market remains to be seen. Bitcoin prices +1% moving back above 67,000.<\/span><\/p>\n

 <\/p>\n

\n

Market Closing Prices Yesterday<\/p>\n