Stock market today: Stocks inch up as Treasury yields ease, but weekly losses loom
Published On Oct 25, 2024, 9:31 AM
U.S. stocks showed slight gains as Treasury yields dropped, helping to relieve some pressure on risk appetite amid ongoing earnings releases. The S&P 500 rose about 0.5%, with the Dow Jones and Nasdaq also witnessing minor increases. Despite these gains, the market is positioned for a generally downbeat week due to previous losses sustained from rising yields and concerns regarding the Federal Reserve’s slow approach to interest rate cuts. Investors are also awaiting upcoming corporate earnings from major companies like Alphabet and Meta. Tesla's recent earnings have fallen slightly despite a profitable quarter.
Stock Forecasts
XLK
Positive
Given the recent volatility in yields and the overall market's reaction to earnings, particularly with tech giants reporting soon, investors may find opportunities in technology stocks. The slight easing of yields could boost tech investments, especially as major players report their results.
CPRI
Negative
Capri Holdings suffered significant losses due to the halt of its merger deal, indicating potential ongoing challenges within the retail space, which may lead to further declines for similar stocks in this sector.
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