Stock market today: Dow, S&P 500 eke out record closes as stocks extend September rally
Published On Sep 23, 2024, 4:01 PM
U.S. stocks gained on Monday, with the Dow hitting another record close. Investors are awaiting Fed statements and key inflation data that could influence further interest rate cuts. On the positive side, Tesla and Intel stocks surged due to favorable forecasts and investment news, while Boeing stock also rose as it improved its contract offer to end a strike. Conversely, GM stock fell following a downgrade from analysts citing earnings and cost concerns. Overall, discussions around inflation and the labor market are key in shaping market expectations for monetary policy.
Stock Forecasts
TSLA
Positive
Positive market sentiment aided by potential Fed interest rate cuts and strong performances by individual stocks.
INTC
Positive
With a multibillion-dollar investment from Apollo Global Management, Intel is poised for potential growth as it improves its business outlook.
BA
Positive
Boeing's proactive moves to resolve union negotiations could restore some investor confidence in its stock trajectory.
GM
Negative
GM's recent downgrade and profit pressure may lead to a negative outlook as investors assess future earnings stability.
MSFT
Negative
Microsoft's downgrade raises concerns about its AI dependency and competitive position in the market, suggesting a potentially negative trend.
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An ongoing strike by Boeing's biggest union, the International Association of Machinists and Aerospace Workers (IAM), is proving costly on several fronts for the company.
An ongoing strike by Boeing's biggest union, the International Association of Machinists and Aerospace Workers (IAM), is proving costly on several fronts for the company.