Stock market today: Nasdaq, S&P 500 rebound amid Amazon cheer, jobs report
Published On Nov 1, 2024, 11:00 AM
Today, US stocks showed signs of recovery with both the Nasdaq and S&P 500 indexes rising amidst positive earnings reports from Amazon and Intel, even though the jobs report indicated a disappointing increase of just 12,000 jobs in October. Investors responded well to Amazon's bullish outlook for AI-related growth while interpreting the weak jobs data as a reason for likely Federal Reserve action on interest rates, which further buoyed the market. The Dow Jones also saw gains, contributing to an overall optimistic sentiment despite earlier sell-offs.
Stock Forecasts
AMZN
Positive
Amazon's strong earnings and optimism about its cloud services' AI segment should positively affect its stock price, indicating a recovery from recent dips. As investors expect continued growth in AI market spending, this indicates strong performance for AMZN shares.
INTC
Positive
Intel's positive earnings report and future guidance may suggest a reversal of its recent struggles, aiding its stock recovery and positively influencing investor sentiment in the semiconductor sector overall.
AAPL
Negative
Despite a positive overall market recovery, Apple's sales forecast disappointed investors, contributing to a decline. The stock may continue to struggle in the short term due to concerns about sales performance, especially in China.
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