Stock market today: Dow, S&P 500, Nasdaq gain to kick off busy week of key data, Big Tech earnings
Published On Oct 28, 2024, 9:30 AM
The U.S. stock market saw gains on Monday, with the Dow, S&P 500, and Nasdaq all rising as fears surrounding the Middle East conflict eased. Investors are now focusing on a week of important events, including earnings from major tech companies, inflation data, and the monthly jobs report. Oil prices fell sharply as fears that Israel's military actions would disrupt crude oil infrastructure didn't materialize. Tech companies such as Alphabet, Apple, Amazon, Microsoft, and Meta are set to release earnings this week. In response to weaker demand, Philips lowered its sales outlook, leading to a significant drop in its stock price.
Stock Forecasts
SPY
Positive
With major tech stocks about to announce earnings, there is optimism about the potential for strong results which could push the S&P 500 higher. Oil prices dropping could also positively influence consumer sentiment and spending, further bolstering the market.
PHG
Negative
Philips has significantly reduced its sales outlook, indicating ongoing difficulties in the market, particularly in China. This decline likely reflects broader issues in the healthcare sector as well. Investors might want to be cautious about its stock moving forward.
BA
Negative
Boeing is attempting to bolster its finances through a significant share offering, which indicates potential liquidity issues amid ongoing operational challenges. Despite the current stock price action, the long-term outlook remains uncertain and potentially negative until significant improvements are seen.
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