9.32am: Wall Street starts higher
US stocks have opened higher today, with the markets lifted by a bullish performance in the first half and expectations it will continue throughout the next few months.
The Dow Jones lifted 0.2% to 39,204, while the Nasdaq opened at 17,772, up also by 0.2%.
The S&P 500 started the day 0.25% higher at 5,474.
Some of the companies making today's headlines included Boeing, which opened close to flat after it announced it would be buying part supplier and former subsidiary Spirit AeroSystems for US$8.3 billion.
Boeing was also handed an ultimatum by the US justice system: admit to fraud charges or face a public trial for the two fatal crashes of 737 max planes.
Attorneys working for the relatives of those lost in the fatal crashes accused the government of offering “another sweetheart plea deal” to Boeing.
"The memory of 346 innocents killed by Boeing demands more justice than this,” said Paul Cassell, who represents multiple families of the crash victims.
Meanwhile, Birkenstock saw its shares lift close to 4% after analysts at UBS upgraded it to a 'buy', citing higher prices and demand in Asia as a reason for stronger growth.
Chewy, the pet food retailer, lifted more than 9% after it was revealed meme stock trader Roaring Kitty, had developed a 6.6% stake in the company.
8.40am: Wall Street to open higher
US stocks are on track to start the first day of the second half higher as economists predict the AI-driven surge to continue throughout summer.
All three of the main indexes were on track to open higher, attempting to offset losses on Friday and continue the strong pace set in the first six months of 2024.
During the first half, the S&P 500 jumped 14.5%, the Nasdaq lifted by 18.1% while the Dow Jones, having suffered a pullback in the second quarter, rose by 3.8%.
On the talk of tech-driven momentum, analysts believe it is here to stay, at least for a while.
“We don’t see a lot of evidence of tech slowing,” King Lip, at BakerAvenue Wealth Management said to CNBC.“If anything, you could argue that it’s accelerating.”
“The reality is that these companies have been so well managed through thick and thin, that during times like this when the economy is growing, they’re able to grow their earnings quite significantly."