Stock market today: Dow falls, Nasdaq and S&P 500 rise amid fresh wave of earnings, jobs data

Published On Oct 29, 2024, 11:28 AM

US stocks exhibited mixed performance as investors digested data on job openings and awaited earnings reports, notably from Alphabet. The labor market showed signs of cooling with job openings decreasing. While the Dow fell slightly, the S&P 500 and Nasdaq gained modestly. McDonald's reported a strong revenue increase despite concerns about a recent E. coli outbreak. The article emphasizes the anticipation around Alphabet's upcoming earnings, assessing its AI investments' impact on stock performance. Ford's stock dropped significantly due to lowered profit forecasts, while Trump's media company stock surged in relation to the upcoming presidential election.

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Stock Forecasts

GOOGView GOOG chart on TradingView

Positive

Investors are optimistic about Alphabet's earnings report, expecting that their substantial investments in AI will yield positive results, which could help boost their stock price.

MCDView MCD chart on TradingView

Positive

McDonald's strong performance, despite E. coli concerns, demonstrates resilience in their sales push. Anticipated positive consumer response to new product launches may sustain stock support.

FView F chart on TradingView

Negative

Ford's stock is likely to decline further following its disappointing profit forecast and ongoing challenges with warranty costs and supply chain issues, leading to investor caution.

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