Stock market today: Dow slides as S&P 500, Nasdaq bounce back from losses after Russia-Ukraine tensions rattle markets
Published On Nov 19, 2024, 11:41 AM
US stocks experienced volatility amid escalating tensions from the Russia-Ukraine war as President Putin signed a nuclear doctrine permitting broader use of atomic weapons. The Dow fell by about 0.5% while the Nasdaq rose by 0.3%. Investors focused on the geopolitical risks overshadowing corporate earnings reports, such as Nvidia's upcoming earnings. Meanwhile, Walmart reported strong earnings, raising guidance for fiscal 2025, while Lowe's struggled with negative sales growth despite beating earnings expectations. Gold prices surged as investors sought safe-haven assets, with prices climbing over $2,600 per ounce due to the heightened geopolitical concerns.
Stock Forecasts
WMT
Positive
Walmart's impressive earnings report and guidance increase suggest strong momentum going into the holiday season, positioning it well to capitalize on consumer spending. The stock is likely to continue performing positively as it captures market share from competitors offering an online shopping experience.
LOW
Negative
Lowe's negative same-store sales growth, despite beating earnings, raises concerns about its ongoing business momentum. Investors might be cautious about committing to the stock given the negative sales outlook. This could result in downward pressure on the stock price in the near term.
NVDA
Negative
Nvidia's upcoming earnings and market expectations create a volatile environment. If Nvidia meets or exceeds expectations but provides cautious guidance regarding future demand, it may not sustain the current high valuation, potentially leading to a decline.
SMCI
Positive
Super Micro Computer's recent compliance filing helps regain some investor confidence, leading to an initial surge in stock price. However, with ongoing investigations and previous issues, long-term confidence may remain shaken, but near-term sentiment could be bullish, though risk remains.
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