Stock market today: Nasdaq leads stocks lower in wait for earnings to rush in

Published On Oct 21, 2024, 9:30 AM

The Nasdaq led a slight decline in U.S. stocks as investors awaited a busy week of earnings reports, which could impact the ongoing market rally. The S&P 500 dropped about 0.2%, while the Dow Jones Industrial Average decreased almost 0.1%. With Tesla's earnings due on Wednesday and other major companies like GM and UPS also reporting, market sentiment remains cautious. Additionally, oil prices saw a nearly 2% rise following China's economic stimulus actions.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Neutral

Given the high expectations for upcoming earnings reports and potential volatility based on those results, particularly with Tesla and others, there's a cautious sentiment in the market. It might be wise to consider defensive strategies or stocks expected to benefit from volatility.

BAView BA chart on TradingView

Negative

Boeing's stock is up on the news of a tentative labor deal, which could alleviate some of the pressure from union negotiations. However, the upcoming earnings report is forecasted to show losses, indicating mixed sentiment. It might experience more volatility depending on labor deal outcomes.

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