Dow Jones surges 270 points to record high after Trump assassination attempt: Live updates

Apple shares gained 2% before the close on a series of positive market news.

Loop Capital upgraded the iPhone maker’s stock to “hold” from “buy” and raised its price target to $300, citing its potential in artificial intelligence. The firm said the company is poised to become “the home base for consumer-preferred AI.” Morgan Stanley also named the stock a top pick, calling Apple Intelligence a “clear catalyst” for iPhone and iPad shipments and raising its price target.

Bloomberg News reported that the company’s sales in India jumped 33% to a record $8 billion for the year ended March, citing a person familiar with the matter.

Macy’s shares fell more than 12% after it announced it had ended takeover talks with Arkhouse and Brigade.

The retailer said Monday that the activist group’s proposal “lacks financing certainty and does not offer compelling value.” Macy’s shares have fallen more than 5% in 2024.

— Alex Harring, Rohan Goswami

BlackRock shares gained 1.2% in premarket trading after the investment firm’s latest quarterly profit beat expectations.

The asset manager posted adjusted earnings of $10.36 per share in the second quarter, beating the FactSet consensus estimate of $9.96 per share. However, revenue of $4.81 billion fell short of the $4.85 billion forecast.

Here are some of the stocks that saw the most significant moves before the close:

• Trump Media & Technology — Shares of The Truth Social Parent jumped more than 50% after the assassination attempt on former President Donald Trump on Saturday. Some have suggested the attempt could boost Trump’s chances of winning the November election.
• Apple — Apple shares gained 2%. Loop Capital upgraded the tech giant to buy, saying its upcoming and upcoming AI integrations create an opportunity for the iPhone maker to become the “base camp” for AI-generating choices. Bloomberg News also reported that the company’s sales in India rose 33% year over year through March to a record $8 billion.
• Super Micro Computer — Shares of Super Micro Computer, which makes graphics processing unit servers, rose 3.6% after it announced that the company would replace drugstore chain Walgreens Boots Alliance in the Nasdaq 100 index before the start of trading on July 22.

Read the full list of moving actions here.

— Samantha Subin

Saturday’s assassination attempt on former President Donald Trump is likely to send stocks higher Monday and lead to “risk-on trading,” according to Stifel.

“While political uncertainty may lead to risk aversion, we think investors will agree with our analysis that the attempted assassination of Donald Trump increases his chances of winning the presidential election,” Brian Gardner, chief political strategist in Washington, said in a note published Sunday. “This could lead to a rise in stock markets on Monday.”

Gardner noted that the size of the political boost Trump will receive remains uncertain and that Saturday’s event will also freeze the Democratic Party’s efforts to replace President Joe Biden as their party’s nominee, two factors that could also send markets higher.

— Pia Singh

Shares of Goldman Sachs jumped 2% after the bank said Monday morning that it beat its second-quarter profit and revenue forecasts. The stock was trading less than 1% higher.

The bank posted earnings of $8.62 per share, while analysts polled by LSEG had expected just $8.34. Goldman Sachs’ revenue was $12.73 billion, above consensus expectations of $12.46 billion. The bank also reported better-than-expected bond revenue.

—Lisa Kailai Han

Shares of Trump Media & Technology jumped nearly 50% in premarket trading Monday following the attempted assassination of former President Donald Trump over the weekend.

Trump was shot at a rally in Pennsylvania on Saturday and was released from the hospital shortly afterward. The shooter and one attendee died, while two other attendees are in critical but stable condition.

Trump Media is the parent company of social media platform Truth Social. Its ticker symbol, DJT, also stands for Donald Trump’s initials.

—Alex Harring

Stock futures extended gains overnight, with Dow Jones Industrial Average futures rising about 200 points. Tesla and Humana were early market leaders.

-John Melloy

European stocks started the week lower as global markets assessed the impact of an assassination attempt on former US President Donald Trump during a rally over the weekend.

The pan-European Stoxx 600 index was down 0.45% in early trading as all sectors and major stock exchanges fell into the red.

The British FTSE index opened down 0.74% at 8,193, the German DAX down 0.34% at 18,685, the French CAC 40 down 0.94% at 7,651 and the Italian FTSE MIB down 0.52% at 34,401.

Google is in advanced negotiations to acquire cybersecurity company Wiz for $23 billion, the Wall Street Journal reported Sunday, citing people familiar with the matter.

Sources familiar with the matter told the Journal that a deal could be reached soon. If completed, it would be Google’s largest acquisition ever.

Founded in 2020, Wiz has grown rapidly under CEO Assaf Rappaport. The company was considering an IPO last May, when it reached a valuation of $12 billion.

-Yun Li