#StockMarket #WallStreetVolatility #InvestmentTrends
Stock Market Today: Live Updates
As I reflect on the week’s market performance, I am struck by the volatility that has characterized Wall Street. On Thursday, stock futures experienced a slight increase, with the Dow Jones Industrial Average rising by 65 points, or just above 0.1%. Both S&P 500 and Nasdaq 100 futures also saw a 0.1% increase each. This modest gain comes after a tumultuous week that saw significant declines in major tech and artificial intelligence-related companies.
In after-hours trading, medical equipment manufacturer $Dexcom faced a significant drop of 39% following the release of disappointing annual financial forecasts. Conversely, footwear brand $Deckers reported quarterly earnings and revenue that surpassed analysts’ expectations, leading to an approximate 9.8% surge in its stock price.
As the week nears its conclusion, stocks appear set to finish lower, as investors on Thursday compounded the previous session’s significant losses by selling off shares in major tech and artificial intelligence-related companies. This trend seems to reflect a broader shift towards smaller-cap stocks and more cyclical sectors.
On Thursday, the S&P 500 and the tech-heavy Nasdaq Composite fell roughly 0.6% and 0.7%, respectively. In contrast, the 30-stock Dow bucked the trend, gaining about 81 points, or approximately 0.2%.
Adam Turnquist, chief technical strategist at LPL Financial, noted that “volatility returned with intensity this week as the selling pressure in large-cap stocks impacted the overall market.” He added that overbought market conditions have also played a role in the recent downturn. “The counteracting weakness in these major names presents a challenge for the broader market.”
The broad-market index has declined by 1.1% this week, while Nasdaq has dropped 3.1%. Dow is approximately 0.9% for the week thus far.
Friday at 8 a.m. ET, market participants will focus on the June report of personal consumption expenditures, which is a key inflation measure favored by central bank officials. Economists surveyed by Dow Jones anticipate that the headline PCE will increase by 0.1% month-over-month and rise by 2.5% year-over-year. Additionally, the final Michigan sentiment survey will be published at 10 a.m.
In terms of earnings, Bristol Myers Squibb and 3M are expected to release their quarterly results.
Original Article: https://www.cnbc.com/2024/07/25/stock-market-today-live-updates.html
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