Stock market today: Nasdaq retreats as Dow, S&P 500 tread water with weekly wins in play

Published On Nov 22, 2024, 7:34 AM

The stock market is experiencing a slight downturn today, particularly the Nasdaq, while the Dow and S&P 500 are holding steady. This follows a week where markets are expected to close positively, with major stocks under pressure due to Nvidia's earnings results, which failed to provide clear confidence in the AI sector's influence on overall market performance. Investors are also closely watching political developments and economic indicators, particularly related to consumer sentiment and factory activity. Bitcoin's price is nearing $100,000, driven by optimism about potential pro-crypto policies in the new administration.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

NVDA View NVDA chart on TradingView

Negative

Given Nvidia's disappointing earnings impacting tech sentiment and ongoing uncertainty regarding market leadership, investors should tread cautiously in the tech sector. However, if broader market confidence remains supported by a recovery in other indices such as the S&P 500, this may stabilize tech stocks in the longer term.

SPY View SPY chart on TradingView

Positive

The expected consumer sentiment report later today could influence markets, particularly if it signals stronger economic prospects. A positive report could bolster confidence in the S&P 500 and related ETFs, while a negative result might lead to further declines.

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