It’s called X.
The index gained 0.7% after being down earlier. The S&P 500 and the DOW Jones Industrial Average rose. The small-cap Russell 2000 gained ground.
The volume on the exchanges rose compared with the previous day. The Innovator IBD 50 (FFTY) added to its portfolio.
On Friday, the consumer price index for May will be announced. Econoday’s survey of economists shows an 8.2% increase, a slight dip from April’s 8.3% estimate.
The 10-year Treasury note increased in value. Since May 11, the 10-year has not closed above 3%.
As Beijing continued to ease some Covid restrictions, China’s stocks soared 2.5% Monday, as measured by the Hang Seng Index. The Chinese and Japanese stock exchanges also gained.
In Europe, the London FTSE 100 index gained 1.1%, while the German DAX gained 1.4% and the French CAC 40 gained 1.2%.
Techs Surge as Apple Takes the Stage.
As the company prepared to discuss its new products and services on Monday, Apple shares gained 0.6%.
A host of software announcements will be made during a keynote presentation at the Worldwide Developers Conference. The next catalyst for Apple stock could be the news from the WWDC keynote.
The company may use the event to introduce its RealityOS operating system for future headset computers for augmented reality and virtual reality.
The Technology Select Sector SPDR is up.
The online retailer’s 20-for-1 stock split went into effect on Monday. The split was announced in March.
Following a report that the Biden administration will suspend tariffs on solar panels from four countries, solar energy stocks soared. The Defense Production Act will be used to promote domestic production by President Joe Biden.
Enphase jumped past the buy zone after Biden announcement.
The three companies that jumped more than 5% were Enphase Energy, Sunrun, and SunPower.
Enphase hit its 193 buy point last week off a double- bottom pattern.
JinkoSolar jumped past its buy point of 66.47 off a six-month consolidation.
Chemical maker ASH and real estate investment trust VICI, which holds real estate for the gaming and hospitality industries, are breaking out. Both stocks fell below their buy points.
After JetBlue Airways increased its offer to buy the company, Spirit Airlines jumped. In May, the airline launched a hostile takeover of the airline. The Frontier merger is going to be voted on by Spirit’s shareholders on Friday. Frontier shares gained 3.2%, while the shares of JetBlue gained 1.6%.
On Monday, the company’s shares gained 1.3%. Musk said he plans to cut 10% of the company’s workforce.
The price of oil fell to $118 a barrel on Monday.
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