#StockMarket #EconomicIndicators #MarketTrends
As I follow the stock market closely, I am excited to share the most recent updates and insights. Today, the market is experiencing significant fluctuations, and I will break down the key events and trends for you.
Market Overview
The Dow Jones Industrial Average ($DJI) opened lower, down 0.5%, while the S&P 500 ($SPX) and the Nasdaq Composite ($COMP) both fell 0.7%. This decline is largely attributed to concerns over the ongoing economic slowdown and rising interest rates.
Key Movers
- Microsoft ($MSFT): Shares dropped 2.5% after the company reported weaker-than-expected quarterly earnings.
- Alphabet ($GOOGL): The parent company of Google saw its stock fall 3.1% following a disappointing earnings report.
- Amazon ($AMZN): Despite beating earnings expectations, Amazon’s stock declined 1.8% due to concerns over its slowing growth.
Economic Indicators
- GDP Growth: The U.S. economy grew at a 2.4% annual rate in the second quarter, slightly below expectations.
- Inflation: The core personal consumption expenditures (PCE) price index, a key inflation measure, rose 0.2% in June, in line with forecasts.
Market Analysis
The current market volatility is largely driven by investor uncertainty about the future of interest rates and the overall economic outlook. As the Federal Reserve continues to tighten monetary policy, investors are becoming increasingly cautious about the potential impact on corporate earnings and economic growth.
What’s Next?
As the market continues to evolve, I will keep you updated on the latest developments and trends. Stay tuned for further insights and analysis.
Original Article: https://www.cnbc.com/2024/07/29/stock-market-today-live-updates.html
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