Stock market today: Dow, S&P 500 rise while Nasdaq slips as Nvidia, Alphabet tumble

Published On Nov 21, 2024, 12:28 PM

US stocks experienced volatility after Nvidia reported strong earnings but forecasted a slowdown in revenue growth due to supply chain issues. Nvidia's shares fluctuated, revealing investors' mixed reactions. In contrast, Alphabet's shares fell significantly amidst a DOJ proposal for structural changes, including potentially selling its Chrome browser. Meanwhile, bitcoin surged to nearly $98,000, reflecting optimism about pro-crypto policies under the upcoming Trump administration, while mortgage rates continued to rise, impacting the housing market.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Positive

Nvidia has strong demand for its AI chips despite supply chain constraints, suggesting future revenue growth is likely albeit delayed. This positions NVDA as a positive investment opportunity given the long-term bullish sentiment on AI and limited competition in the chip-making sector.

GOOGView GOOG chart on TradingView

Negative

Alphabet faces regulatory challenges that could lead to further declines in share price if the DOJ's proposal progresses. The risk of losing market share and operational segments is high, which suggests a negative outlook for GOOG.

MSTRView MSTR chart on TradingView

Neutral

With the recent surge in bitcoin prices and discussions of crypto-friendly policy under Trump's team, MicroStrategy, which has significant investments in bitcoin, may benefit from this environment. However, increased scrutiny from short-seller activity could offset potential gains, leading to a cautious outlook for MSTR.

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