Stock market today: S&P 500, Nasdaq climb as Tesla jumps, Nvidia earnings loom

Published On Nov 18, 2024, 4:45 PM

US stocks showed mixed performance as Tesla's shares surged over 5% following news that President-elect Donald Trump's administration may relax rules on self-driving cars. The Dow Jones Industrial Average fell 0.2%, while the S&P 500 gained 0.4% and the Nasdaq Composite rose 0.6%. Investors are closely watching Nvidia's upcoming earnings report, which is crucial for understanding the current AI market dynamics. Nvidia's stock dropped by more than 1% in anticipation of the report, amid concerns about overheating issues with its latest AI servers. The market reacted positively to Tesla's rally but remained cautious ahead of Nvidia's earnings and other upcoming reports.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

With Tesla's strong performance stemming from potential regulatory relaxations, the stock may continue its upward momentum as investors are likely to respond favorably to the news.

NVDAView NVDA chart on TradingView

Negative

Nvidia's upcoming earnings report is generating high expectations, however, concerns about technical issues could negatively impact market sentiment and stock performance.

XLEView XLE chart on TradingView

Positive

Given the oil production disruptions and geopolitical tensions, energy stocks could be set for a rise as commodity prices increase along with demand for safe-haven assets.

DJTView DJT chart on TradingView

Positive

Trump Media's significant rise due to a reported acquisition could indicate bullish sentiment around the company, though caution is advised due to market volatility.

SMCIView SMCI chart on TradingView

Positive

Super Micro's noteworthy climb seems driven by hope regarding delisting compliance, suggesting continued investor optimism may support price recovery.

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