Stock market today: Dow, S&P 500 and Nasdaq fall amid wave of earnings

Published On Oct 29, 2024, 9:34 AM

Today, US stock markets opened lower as investors digested recent earnings reports and awaited results from major companies like Alphabet. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all fell approximately 0.3% at opening. This week marks a crucial time for the market, with Big Tech earnings being especially significant as they indicate whether AI investments are yielding returns.

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Stock Forecasts

GOOGLView GOOGL chart on TradingView

Positive

The upcoming earnings report from Alphabet will likely guide market sentiment, especially for tech stocks. Investors are cautious but there is potential for recovery if Alphabet exceeds expectations, as positive results may bolster other tech shares.

MCDView MCD chart on TradingView

Positive

McDonald's reported strong earnings, which may positively influence its stock. Given their resilience amid food safety concerns, it signals strong brand loyalty and effective management, which can generate investor confidence.

PYPLView PYPL chart on TradingView

Negative

Given the overall market trend with major indices down, stocks like PayPal and Pfizer that reported mixed results might see further declines, as investor sentiment remains cautious ahead of broader economic data releases.

DJTView DJT chart on TradingView

Negative

Trump Media & Technology Group saw a jump in stock prices recently tied to political events. However, with grim earnings expectations looming, volatility might be expected as market sentiment shifts with political developments.

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