- The Dow Jones Industrial Average rose modestly on Monday as investors moved cautiously to this week's Federal Reserve meeting and weighed renewed tariffs from the White House.
- Facebook shares (FB – Get Report) advanced as investors prepared for Tuesday's "white paper" from social media giant featured its plans for a platform cryptocurrency. Facebook is the real money Today's stock.
- Pfizer (PFE – Get Report) said it agreed to acquire Array Biopharma (ARRY – Get Report) in an all-cash agreement that estimates cancer medical specialist at around 11.4 billion. 19659004] Wall Street Summary
Stocks rose modestly on Monday as investors adopted a cautious stance as they entered this week's Federal Reserve meeting and weighed renewed White House tariff threats.
The US Federal Reserve will start its two-day price setting meeting on Tuesday in Washington against a background of moderately improved consumer strength and a wider economy growing at around 2.1
Fed watchers do not expect changes in interest rates when the Fed makes a statement on Wednesday afternoon, but will look for signals from President Jerome Powell on how and when the central bank will respond to low inflation and a slowdown in the global economy.
Dow Jones Industrial Average rose 55% or 0.21% to 26,144, S & P 500 climbed 0.21% and Nasdaq advanced 0.67%.
However, investors drew cautiously after Minister of Commerce Wilbur Ross told CNBC that President Donald Trump is ready to move on rates for the remaining $ 300 billion in Chinese goods if the two parties cannot reach a trade pact.
Pfizer (PFE – Get Report) said it agreed to acquire Array Biopharma (ARRY – Get Report) cancer medical specialist of about 11.4 billion. USD. Pfizer fell slightly to $ 42.63, while Array Biopharma increased 55.8% to $ 46.10.
Facebook shares (FB – Get Report) rose 3.2% to $ 187.08, while Bitcoin prices were trading well past the $ 9,000 level as investors prepared for Tuesday's "white paper" from the social media group which describes its plans for a platform's crypto competition. Facebook is real money Today's stock.
Boeing (BA – Get Report) CEO Dennis Muilenburg was apologetic over two fatalities in his flagship 737 MAX headline at the start of the Paris Air Show on Monday and insisted that its safe return to action was more important than establishing a quick schedule.
Shares rose 2.3% to $ 355.10, when Boeing jumped to the top of Dow after predicting that the global aviation and defense market would grow to nearly $ 9 billion over the next 10 years . Home Depot (HD – Get Report) and ExxonMobil (XOM – Get Report) rounded off the top three.Sotheby & # 39; s (BID – Get Report) auction house increased 57.2% to $ 55.64 after announcing that it was acquired by BidFair USA, a media and telecommunications contractor and art collector company. Patrick Drahi.
In the economic news, the Empire State Manufacturing Index dropped 26.4 points to a negative 8.6 in June, the New York Federal Reserve Bank said on Monday the largest monthly decline on record and the first negative reading for the index for more than two years. Economists had expected a reading of positive 10.
Builder confidence in the market for newly built single-family homes fell two points to 64 in June, according to the National Association of Home Builders / Wells Fargo Housing Market Index. The sentiment levels have remained in a solid area in the last to mid 60's over the past five months.
"While the demand for single-family homes remains healthy, builders continue to report rising development and construction costs with additional concerns over trade issues," said Greg Ugalde, chairman of the association, in a statement.
Facebook and Home Depot are a holding company in Jim Cramer's Action Alerts PLUS member club . Want to be aware before Jim Cramer buys or sells these stocks? Learn more now.