Stock market today: S&P 500 posts back-to-back losses for first time since September as rally stalls

Published On Oct 22, 2024, 4:11 PM

U.S. stocks had a mixed day as investors reacted to a bond market sell-off and upcoming earnings reports. The S&P 500 and Dow closed slightly lower, while the Nasdaq rose by 0.2%. There's uncertainty among investors regarding the Federal Reserve's rate policies, especially with economic strength and impending elections. Notable earnings included General Motors, which raised its profit guidance and saw shares increase over 10%. GE Aerospace and Verizon experienced declines after mixed earnings. Walmart announced a new same-day prescription delivery service, which led to a slight share price increase. DJT stock rose as market sentiment favored Donald Trump's chances in the upcoming election. Energy stocks performed well while technology sectors lagged due to rising interest rates.

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Stock Forecasts

GMView GM chart on TradingView

Positive

General Motors has shown robust performance with a significant increase in guidance, reflecting strong EV sales and overall revenue growth. This positive outlook and bullish sentiment from the market suggest that GM's stock may continue to rise as investors react to upbeat earnings.

WMTView WMT chart on TradingView

Positive

Walmart's entry into same-day prescription delivery is likely to increase competition in the retail pharmacy sector. The move aligns with growing demand for convenience in healthcare services. This innovation could enhance Walmart's market position, potentially benefiting its stock price in the longer term.

DJTView DJT chart on TradingView

Positive

Given the recent election-related stock fluctuations, DJT has gained significantly due to speculation about Trump's presidential prospects. Investors are betting on a Trump victory, which suggests potential volatility but also could lead to further gains as public sentiment shifts in his favor.

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