As the Dow Industrials celebrate a new record, attention shifts to Tuesday’s market drivers with key economic data and corporate events on the horizon. Investors will keenly watch housing starts data, the highly anticipated debut of SpaceX options trading, and Workday’s annual meeting. Meanwhile, the energy sector, influenced by oil’s return to the low $80s, and broader market indices like the Russell 2000 and NYSE Composite, which also hit new highs, are poised for further movements.
As Wall Street buzzed following a record-setting day for the Dow Industrials, CNBC's producers have identified key sectors and individual stocks poised to capture investor attention in the upcoming trading session. From crucial economic data releases to significant corporate events and shifting commodity prices, here’s a comprehensive look at what's likely to move the market.
Housing Market in Focus Ahead of Key Data
Tuesday morning is set to kick off with the release of the latest housing starts figures at 8:30 a.m. ET. CNBC TV’s housing reporter, Diana Olick, will provide live analysis on the data's impact throughout the day. This report comes at a time when major homebuilders are experiencing mixed but notable performances:
- Toll Brothers: Riding a wave of momentum, the stock is up approximately 18% over the past month and 7% in June, though it remains 11% below its February peak.
- Hovnanian: Demonstrating robust gains, Hovnanian has surged roughly 25% in the last month, with an impressive almost 11% jump in just a week. Despite this, it's still 26% off its September high.
- D.R. Horton: Shares have climbed 5.4% in June and 14.5% over the past month, yet sit 16% below their September high.
- Lennar: While flat for June, Lennar has seen a 9% increase in the last month, though it lags significantly, down 37% from its September high.
- PulteGroup: Showing strong recent performance, PulteGroup is up 11.5% in a month and about 4% in June, but still 15% below its February high.
SpaceX Options Debut on Cboe
Anticipation builds as options for SpaceX are scheduled to begin trading on the Cboe on Tuesday. CNBC's options expert, Oliver Renick, will deliver comprehensive coverage from the options pit. On its second day of trading, SpaceX’s stock soared nearly 20% to close at $192.50, pushing its market capitalization to a staggering $2.5 trillion. For context, this places it just shy of Amazon’s $2.6 trillion valuation.
Workday's Annual Meeting Amidst Stock Decline
Workday is slated to hold its annual meeting, drawing scrutiny as the stock has shed 47% of its value over the past year. Since reaching a high in September 2025, Workday shares have declined by 48%. Analyst sentiment tracked by FactSet shows a divided view, with 22 analysts rating it 'buy' or 'overweight' and 21 issuing a 'hold' rating. The stock closed Monday at $129.60, down 0.9%, with an average price target of $173.56.
Energy Sector Reacts to Oil's Resurgence
Oil prices are back in the low $80s, with West Texas Intermediate futures last trading around $81 a barrel. This marks a more than 20% increase from the levels seen on the last trading day of February, just before the Iran conflict. Despite this, the S&P Energy sector has struggled, down 7.3% in a month and 12.5% from its March 27 high.
- ExxonMobil: The energy giant's shares are down 20% from their March 30 high, closing just under $141 on Monday.
- Chevron: Closed at $180.40 a share, with its stock off 16% from its March 30 high.
Broader Market Check: New Highs and Lingering Gaps
Monday saw several major indices reach new peaks:
- The Russell 2000 hit a new high, up 6% in a month.
- The NYSE Composite also achieved a new high, climbing approximately 7.3% over three months.
- The Dow Industrials recorded a fresh high, advancing almost 11% in three months.
- In contrast, the Nasdaq 100 is slightly off its high by 0.7%.
- The S&P 500 is down 0.87% from its peak.
As Tuesday's trading commences, investors will be balancing these individual stock narratives against the broader economic landscape and ongoing geopolitical developments.
