Stock market today: Dow rises, Nasdaq slips as fresh earnings roll in

Published On Oct 16, 2024, 10:51 AM

Today, the US stock market showed mixed results, with the Dow Jones Industrial Average increasing by 0.4%, while the Nasdaq Composite fell by 0.2%. The market is reacting to mixed earnings reports. Morgan Stanley reported strong earnings, leading to a significant share price increase. In contrast, ASML, UnitedHealth Group, and LVMH released disappointing earnings, adding pressure on investor sentiment. The overall market is cautious, with traders eyeing upcoming earnings reports from other companies like Abbott and Discover Financial Services. Commodities like gold are seeing a rise in prices amidst economic uncertainty.

Read full article

Stock Forecasts

MSView MS chart on TradingView

Positive

The positive earnings from Morgan Stanley indicate a strong performance in investment banking and trading, suggesting strength in the financial sector. However, concerns from ASML's report may have negative implications for tech stocks, especially those related to the AI chip industry. The mixed results imply a cautious outlook in the near term, but strong financials from leading banks provide some reassurance.

NVDAView NVDA chart on TradingView

Negative

ASML's disappointing guidance suggests challenges for the semiconductor sector and may lead to further selling pressure on related stocks such as Nvidia, which are heavily dependent on the chipmakers' performance. Investors should be wary of potential declines in this sector.

Related News

Investment banking surge at Morgan Stanley solidifies Wall Street revival

Oct 16, 2024, 8:12 AM

Profits at Morgan Stanley jumped 32% as investment banking and trading results exceeded analyst expectations.

MS

Stock market today: US futures take a post-ASML pause with fresh earnings on deck

Oct 16, 2024, 7:06 AM

Eyes are on results from Morgan Stanley and others for reasons for stocks to rebound to record highs.

MS
NVDA

Stock market today: US futures take a post-ASML pause with fresh earnings on deck

Oct 16, 2024, 7:06 AM

Eyes are on results from Morgan Stanley and others for reasons for stocks to rebound to record highs.

NVDA