Stock market today: Dow futures slip as S&P 500, Nasdaq tread water amid wave of earnings
Published On Oct 29, 2024, 7:30 AM
U.S. stock futures are down as market participants are digesting earnings reports and awaiting Alphabet's key quarterly results. Currently, Dow futures have slipped by 0.2%, and the S&P 500 and Nasdaq futures are relatively stable. The latest earnings from major firms, including McDonald's, have shown promise. Major upcoming reports are anticipated from key tech companies, which are expected to influence market trends as November approaches. Additionally, economic indicators related to consumer confidence and job openings are forthcoming, which could impact Federal Reserve decisions on interest rates.
Stock Forecasts
SPY
Negative
The mixed responses in futures indicate caution among investors as they await crucial earnings reports and economic data. This uncertainty may lead to a pullback in the major indices, especially if incoming results do not meet optimistic expectations.
MCD
Positive
McDonald's recent positive earnings report despite previous setbacks could suggest resilience in consumer spending, making it potentially favorable amidst uncertainty in tech stocks.
GOOGL
Positive
As anticipation builds for Alphabet's earnings report, any substantial results could sway technology stocks positively, thus driving market sentiment higher, contingent on the performance numbers.
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