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Stock Market Update: Dow Rises on Inflation Data; Tech Giants ...
2024-07-27 14:59:08
Stocks
Inflation
Economy

Stock Market Update: Dow Rises on Inflation Data; Tech Giants Surge

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The Dow Jones, S&P 500, and Nasdaq climbed following positive inflation data, with Apple, Nvidia, and Tesla showing strong performance. Notable earnings came from 3M, Bristol-Myers Squibb, and others.

Big movers included Meta, Microsoft, and Pfizer, while Dexcom faced a downturn. Economic indicators pointed to rising inflation and increased consumer spending.

However, concerns arose as logistics and airlines like UPS and American Airlines lowered earnings forecasts, hinting at potential trade and economic challenges.

Related news on that topic:

US Stocks Rebound on Easing Inflation Data and Tech Giant Earnings

US stocks soared as investors reacted positively to the easing inflation data and anticipated interest-rate cuts. The Dow, S&P, and Nasdaq recovered from the recent tech-led sell-off and climbed higher. The key focus was on the PCE index, which showed a slow rise in 'Core' PCE. Additionally, investors are eagerly awaiting quarterly earnings from tech giants such as Apple, Microsoft, Amazon, and Meta. Wall Street is now questioning whether the recent sell-off is a turning point towards lower prices or just a typical bull-market pullback. Despite the positive sentiment, the broader market was dragged down by selling pressure in the mega-cap space, with volatility making a strong comeback. Meanwhile, Bristol Myers Squibb, Colgate-Palmolive, and 3M are set to publish their second-quarter updates. Overall, the market remains cautious but optimistic, with expectations for a September Fed rate cut to support stocks after the recent tech-led selloff.

Market Volatility Amid Big Tech Earnings and Economic Indicators

US stocks, including Nasdaq and S&P 500, dropped due to AI trade concerns and disappointing earnings from Alphabet and Tesla. Meanwhile, the Dow Jones remained positive amidst expectations of significant Federal Reserve rate cuts. Economic growth in Q2 exceeded forecasts at 2.8%, while the upcoming update on the Personal Consumption Expenditure Price Index will influence the Fed's decisions. On the flip side, positive inflation data led to a rebound in the market, with Dow rising by 600-700 points as investors reacted to slower PCE index growth. The market's recent volatility, especially after lackluster Big Tech earnings, is raising questions about the economy's trajectory. Notably, tech giants like Meta and Microsoft saw gains, but diabetes stock Dexcom slumped. Key economic indicators are showing promise, with inflation on the rise and consumer spending increasing.

Read 13 more recent news on this topic

The press radar on this topic:

Yahoo Finance
26. Juli 2024 um 13:32

Stock Market Today: Dow Jones Rises On Key Inflation Data; Apple, Nvidia, Tesla Rally | Investor's Business Daily

Finance
Economy
Technology
The Dow Jones Industrial Average, S&P 500, and Nasdaq composite rose on key inflation data, with Apple, Nvidia, and Tesla rallying. The 10-year Treasury yield ticked lower, oil prices eased, and ETFs like the Invesco QQQ Trust and SPDR S&P 500 ETF gained. Key earnings movers included 3M, Bristol-Myers Squibb, AppFolio, Deckers Outdoor, and Skechers. Stocks to watch included Badger Meter, GE Aerospace, Palantir Technologies, and Tenet Healthcare. Among Dow components, Amazon, American Express,..
The Street
29. Juli 2024 um 22:46

Big movers: Meta, Microsoft up, diabetes stock slumps TheStreet Daily Newsletter

Finance
Economy
Technology
Tech giants Meta, Microsoft, Pfizer up. Diabetes firm Dexcom tumbles on weak Q2, outlook. 3M, Mohawk, Charter gain big. Deckers Outdoor, Hoka and Uggs parent, beats earnings, raises guidance. Transport Norfolk Southern, healthcare Centene also advance. Key economic data shows improving inflation, with PCE and core PCE price indexes rising, and consumer spending climbing.
Yahoo Finance
27. Juli 2024 um 13:00

Earnings Derail Stock Rally Over Doubts on AI, Consumer Strength

Finance
Technology
Economy
Logistics and airline companies like UPS, American, and United trim earnings forecasts, signaling potential weakness in trade and the broader economy.
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