Stock market today: Nasdaq leads stock declines as Nvidia, chip stocks sell off
Published On Oct 15, 2024, 4:06 PM
US stocks closed lower, driven down by disappointing earnings from ASML Holding, which negatively impacted semiconductor stocks like Nvidia and AMD. The Dow Jones and S&P 500 both fell by approximately 0.8%, while the Nasdaq Composite declined by around 1%. Earnings season has begun with mixed results; Goldman Sachs reported strong profits while UnitedHealth Group's guidance disappointed. Additionally, oil prices dropped as political tensions eased in the Middle East, and Walgreens saw a stock increase due to its store closure strategy. Investors are closely monitoring upcoming earnings from high-profile companies like Netflix.
Stock Forecasts
NVDA
Negative
Stocks are likely to face downward pressure, particularly in the semiconductor sector, following ASML's earnings report. Overall market volatility may increase as more companies report earnings, creating uncertainty for investors.
WBA
Positive
Walgreens strategy may bolster its stock performance given the positive market reaction to its store closures, which are part of a turnaround plan. This could lead to favorable earnings announcements in the future.
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