Dow Jones Today: US Stocks Open Higher After Dow Tops 40K

Dow closes above 40,000 for the first time, Nvidia set to report earnings, metals prices near record highs, Fed dominates.

Colin, an Associate Editor with a focus on tech and financial news, brings over three years of experience in editing, proofreading, and fact-checking content related to current financial events and politics. His educational background includes an M.A. in journalism from The New School and a B.A. in history and political science from McGill University.

In premarket trading on Monday, U.S. stock futures were on the rise, with the Dow inching up after surpassing 40,000 for the first time on Friday. Investors are optimistic about potential interest rate cuts by the Federal Reserve this year, as cooling inflation trends continue.

Nvidia, a leading player in artificial intelligence (AI), is scheduled to announce its earnings after the market closes on Wednesday. The chipmaker is expected to deliver another strong quarter of earnings and revenue growth, driven by increasing demand for AI technologies.

This week's economic calendar is relatively light on data, with the Federal Reserve taking center stage. Throughout the week, Fed officials will be speaking, and the minutes of the May meeting will be released on Wednesday, providing insights into the central bank's outlook.

Metals prices remained near record highs on Monday, with gold and copper reaching new peaks, while silver continued its upward trend, surpassing the $30 mark. Investors are flocking to metals this year for the safety of gold and silver, as well as the industrial applications of copper.

Meanwhile, Treasury yields and the dollar saw slight gains on Monday morning, reflecting the ongoing market dynamics and investor sentiment.