Stock market today: Dow, S&P 500 edge higher with weekly wins in play
Published On Nov 22, 2024, 11:00 AM
US stocks saw a slight rise as investors reacted to key political developments and the ongoing fluctuations of bitcoin which is nearing the $100,000 mark. The S&P 500 and the Dow showed modest gains while the Nasdaq had a mixed performance following Nvidia's disappointing earnings that raised questions about the tech sector's reliance on AI-driven growth. Additionally, the cancellation of a merger between DirecTV and Dish Network created significant ripples in the pay-TV sector, impacting related stocks particularly EchoStar. Overall, investors are optimistic heading into the new administration with expectations of a more favorable economic environment and possibly lower interest rates next year.
Stock Forecasts
NVDA
Negative
Nvidia's shares have faced downward pressure following earnings that didn't meet high expectations, and this could negatively impact tech-focused ETFs or stocks reliant on AI technologies. If Nvidia's performance continues to disappoint, it could lead to a broader sell-off among its peers.
SATS
Negative
The cancellation of the merger between DirecTV and Dish could negatively impact EchoStar's stock as the company faces ongoing debt issues. Investors might want to watch for volatility in related telecom stocks as they adjust to this news.
SMCI
Positive
Super Micro Computer's recent stock surge indicates strong investor interest as they stabilize their operations and address previous accounting concerns. If they continue on this growth path, it may indicate a bullish phase for this stock moving forward.
RDDT
Negative
Reddit's stock has responded negatively to the potential large share sale which may dilute value. Investors should be cautious and look out for further price weakness in the short term as market reaction settles to this news.
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