S&P 500; US Indexes Fundamental Daily Forecast – NASDAQ Boosted by Broadcom Bid to Takeover Qualcomm

The major U.S. equity markets are expected to open mixed on Monday based on the pre-market trade. The NASDAQ hit a record high during the early session. The Dow was also trading higher, but the S&P 500 Index was lower.

Earnings season is winding down, but there are still major reports to watch. Major companies scheduled to report early include CVS Health, Michael Kors and SoftBank. After the close today, Priceline, Avis Budget, TripAdvisor, AMC Entertainment, Etsy, GoDaddy, TrueCar and Weight Watchers are expected to report their corporate earnings.

There are no major economic reports today but traders may get a chance to react to a couple of events if they become noteworthy.

President Trump is in Japan. This is his first stop in his weeklong trip throughout Asia. Earlier today, he said both Japan and the U.S. should work together to fix issues with the trade.

Later today, New York Fed President William Dudley is expected to speak at an Economic Club of New York’s luncheon on Monday. Earlier today, he said he will retire in mid-2018. His departure is said to not be related to the decision last week by President Donald Trump to name Fed Governor Jerome Powell as the next Fed chairman.

In other news that could be supportive for the market today, Broadcom on Monday made an unsolicited offer to buy Qualcomm, in a deal that would be the largest technology acquisition ever. Since the stock is traded on the NASDAQ, the NASDAQ Composite and the NASDAQ-100 Indexes should benefit the most from the news.