Dow Surges Over 100 Points; Domino's Pizza Posts Upbeat Earnings

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 100 points on Monday.

Following the market opening Monday, the Dow traded up 0.36% to 38,375.82 while the NASDAQ rose 0.57% to 16,018.15. The S&P 500 also rose, gaining, 0.45% to 5,123.12.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1.7% on Monday.

In trading on Monday, communication services shares fell by 0.9%.

Top Headline

Domino's Pizza Inc (NYSE:DPZ) reported better-than-expected first-quarter earnings.

Domino's Pizza reported first-quarter FY24 sales growth of 6% year-on-year to $1.085 billion, beating the analyst consensus estimate of $1.079 billion. EPS of $3.58 beat the analyst consensus estimate of $3.42.

Global retail sales increased 7.3%, excluding the impact of foreign currency. Same-store sales in the U.S. grew 5.6%, while International same-store sales (excluding foreign currency impact) increased 0.9%.

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Equities Trading DOWN

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Commodities

In commodity news, oil traded down 0.1% to $83.78 while gold traded up 0.1% at $2,348.30.

Silver traded up 0.2% to $27.295 on Monday, while copper rose 1% to $4.6175.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.3%, London's FTSE 100 rose 0.4% while Spain's IBEX 35 Index fell 0.8% The German DAX fell 0.1% French CAC 40 rose 0.1% while Italy's FTSE MIB Index fell 0.1%.

The services confidence indicator in the Eurozone fell by 0.4 points to 6.0 in April, while industry confidence indicator declined to -10.5 in April versus a revised level of -8.9 in the prior month. The consumer confidence indicator in the Eurozone increased by 0.2 points to -14.7 in April.

The seasonally adjusted industry confidence indicator in Spain increased by 0.8 points from the prior month to a reading of -3.9 in April. Spain’s consumer price inflation rate rose to 3.3% year-over-year in April.

Asia Pacific Markets

Asian markets closed higher on Monday, with Hong Kong's Hang Seng Index jumping 0.54%, China's Shanghai Composite climbing 0.79% and India's S&P BSE Sensex gaining 1.28%.

Profits earned by Chinese industrial firms climbed 4.3% year-over-year to CNY 1,505.5305 billion during the first three months of the year, compared to a 10.2% gain in the earlier period.

Economics

The Dallas Fed Manufacturing index will be released at 10:30 a.m. ET.

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