Dow edges up, Nasdaq slumps as tech stocks drop

On August 26, 2024, the stock market had mixed results, with the Dow Jones Industrial Average closing at a record high of 41,240.52, up 0.2%. In contrast, the Nasdaq Composite fell 0.9%, down 152.03 points, highlighting a drop in technology stocks. Investors are keenly watching Nvidia's upcoming earnings report as well as inflation data due later in the week. Small-cap stocks gained slightly, while concerns over oil prices continued to emerge due to disruptions in Libya's oil production.

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Stock Forecasts

DJIAView DJIA chart on TradingView

Positive

The Dow's continued growth suggests a positive trend for blue-chip stocks, but the decline in the Nasdaq indicates potential trouble for tech stocks, particularly ahead of earnings announcements from major players like Nvidia.

NVDAView NVDA chart on TradingView

Negative

Given the bearish sentiment around tech stocks, particularly with the upcoming Nvidia earnings causing volatility, investors should tread carefully in this sector. A mixed outlook is evident with potential for further declines in tech stocks, including Nvidia itself.

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