Stock market today: Nasdaq leads stocks lower with rush of earnings ahead

Published On Oct 21, 2024, 9:34 AM

The stock market is experiencing a slight decline with the Nasdaq leading the way lower amid a busy earnings week. The S&P 500 and the Dow have also dipped slightly, retracing from recent all-time highs. Significant focus is on upcoming earnings reports from companies like Tesla, General Motors, and Boeing, which could greatly influence market trends. Despite mixed performance in early trading, Tesla's upcoming report is drawing considerable attention due to recent disappointments with its new robotaxi model. Some reasons for market caution include uncertainty surrounding tech sector performance and potential impacts from corporate earnings.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Negative

Tesla is facing scrutiny as it reports earnings this week, following underwhelming product unveilings, leading to investor concern about its growth potential. The upcoming earnings report is critical for assessing future performance.

BAView BA chart on TradingView

Positive

Boeing's stock has seen a boost from a tentative labor agreement, but upcoming earnings projections suggest ongoing challenges. The labor deal could lead to increased expenses, yet analysts maintain a cautious optimism for long-term recovery in stock value post-strike.

GMView GM chart on TradingView

Neutral

General Motors and Coca-Cola are both set to release earnings that may positively or negatively influence their respective stock performance based on market reactions to their financial results, amidst a broader trend of cautious investor sentiment.

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