Nasdaq 100 futures fall after Nvidia posts quarterly earnings

Published On Aug 28, 2024, 6:04 PM

The article discusses key movements in the U.S. stock market, highlighting the Dow Jones Industrial Average reaching a new record high while other indices, like the S&P 500 and Nasdaq, had mixed performances. Small to mid-cap stocks, particularly in sectors like industrials and healthcare, are viewed positively by Piper Sandler. Additionally, there are insights on upcoming earnings volatility and market expectations, noting that September's first half could be strong but the latter half is historically tougher. There’s also news of significant oil production disruptions in Libya affecting crude prices, alongside major shifts for companies like Dollar General and Abercrombie & Fitch, affecting their stock performance.

Stock Forecasts

Given the positive sentiment surrounding small and mid-cap stocks and the forecast for strong market performance in September, particularly for sectors like industrials and healthcare, it is likely that stocks in those segments may perform well. Additionally, Abercrombie & Fitch is seen favorably by analysts with predictions of substantial share price increases.

Dollar General is currently facing severe challenges, reflected in its stock dropping about 30% after it lowered forecasts and indicated financial constraints among its customer base. Given the drastic nature of its recent declines and ongoing economic concerns for low-income consumers, it is likely that the stock will continue to perform poorly in the short term.

The recent surge in oil prices due to supply disruptions in Libya could benefit energy sector stocks, particularly those involved in oil production or services. Investors may see a positive trend for stocks such as Halliburton (HAL) or ExxonMobil (XOM) as a result of increasing crude prices.

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