Stock market today: Dow ekes out another record amid winning week for stocks
Published On Sep 20, 2024, 4:13 PM
The U.S. stock market mixed on Friday with the Dow Jones Industrial Average reaching a new record, closing above 42,000. The S&P 500 fell by 0.2% and the Nasdaq Composite declined by 0.4% after both indexes enjoyed gains during the week due to excitement over a recent Federal Reserve interest rate cut. This rate cut aims to support the economy, amid ongoing concerns about potential risks to growth. Intel shares surged over 7% on news of a possible Qualcomm takeover, while Qualcomm itself dropped nearly 4%. FedEx reported disappointing profit figures, resulting in a decline in its stock, while Nike's stock rose following the announcement of a new CEO amidst sales pressures.
Stock Forecasts
INTC
Positive
The buzz surrounding a possible acquisition of Intel by Qualcomm has boosted Intel's stock significantly. If the acquisition moves forward, Intel might see further price appreciation.
FDX
Negative
With FedEx's underperformance and missing profit estimates, it indicates weakness in demand, and its stock could continue to face pressure.
NKE
Positive
Nike's positive market reaction to leadership changes and potential for renewed focus on product development suggests a more positive outlook for its stock in the near term.
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