More gains ahead for U.S. stocks
U.S. stock markets look likely to open in the green territory on Tuesday ahead of the release of the ISM Manufacturing Index for December.
The data, which will be released by the Institute for Supply Management at 10 a.m. ET, is expected to show U.S. manufacturing activity fell slightly last month, but remained firmly in growth territory.
Traders will also be watching as the Labor Department releases its November Job Openings and Labor Turnover Survey at 10 a.m. ET.
As of 6:10 a.m. ET, the blue-chip Dow futures rallied 198 points, or 0.55% to 36,424. S&P 500 futures rose 31.5 points, or 0.66% to 4,790 while the tech-heavy Nasdaq 100 futures gained 123 points, or 0.75% to 123 points, or 0.75% to 16,443.75.
Apple becomes first company to top $3trn market cap
Apple (NASDAQ: AAPL) scaled a major milestone on Monday after it become the first American company to top $3 trillion market capitalization, just 16 months after hitting the $2 trillion mark.
The iPhone maker hit that mark when its stock briefly reached $182.86 per share before ending the session at $182.01, up $4.44, or 2.5%.
In August 2018, Apple became the first company to cross the $1 trillion. Two years later, the company soared past $2 trillion.
Apple shares have gained a staggering 50% in the past 52-week period as Wall Street continues to be bullish about its products and services. In the most recent quarter, the company posted revenue of $83.4 billion, up nearly 30%.
Theranos founder Elizabeth Holmes convicted on four of 11 federal charges
In other news, a federal jury on Monday found former Theranos CEO Elizabeth Holmes guilty of four counts of criminal fraud for her role in the rise and fall of her biotech startup.
Holmes, 37, was convicted by a jury in San Jose, California on three counts of wire fraud against a shareholder and one count of conspiracy to commit wire fraud against Theranos shareholders.
The jury did not find her guilty on four counts of charges related to the defrauding of Theranos patients. It was unable to reach a consensus on three remaining charges.
Once a Silicon Valley phenomenon, Holmes now faces up to 20 years behind bars time and fine of $3 million. But since she is a first-time offender, she is unlikely to spend that much time in prison.