Dow closes at record high, S&P 500, Nasdaq slide as tech lags

Published On Aug 26, 2024, 4:01 PM

The Dow Jones Industrial Average reached a record closing high of 41,240.52, while the S&P 500 and Nasdaq Composite indexes experienced declines. The market is currently focused on the upcoming earnings report from Nvidia, with expectations that disappointing results could negatively impact the AI investment trend that has significantly influenced stock performance this year. Additionally, there are speculations about potential interest rate cuts by the Federal Reserve, with investors anticipating the August jobs report and other economic indicators that could guide future rate policy.

Read full article

Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

Nvidia's upcoming earnings report is crucial for the broader tech sector, especially the AI market. If Nvidia does not meet expectations, it may negatively affect stock prices across the sector, including competitors like AMD and Intel. Market sentiment could turn bearish if the results signal trouble in AI demand or revenue growth.

XLEView XLE chart on TradingView

Positive

Rising oil prices due to geopolitical tensions and production cutbacks could lead to increased profitability for energy companies. Investors might want to consider stocks or ETFs related to the energy sector as they could benefit from this price surge.

Related News

Nancy Tengler encourages investors to have a ‘longer-term perspective’ on Magnificent 7 stocks | Fox Business Video

Laffer Tengler CEO and CIO Nancy Tengler discusses investment opportunities and more on ‘Making Money.'

AAPL
MSFT
NVDA

Dozens of UK-linked firms suspected of busting Russian oil sanctions

Oct 10, 2024, 8:09 PM

The government is investigating 37 companies - but has yet to hand out any fines, the BBC discovers.

IEO
XLE

Nvidia stock aims for new record high as AI boom shows no sign of slowing

Oct 9, 2024, 12:23 PM

Nvidia stock is aiming to notch a new all-time high, as the AI boom shows no sign of slowdown.

NVDA