Stock market today: S&P 500, Nasdaq slide after key Fed inflation gauge shows faltering progress
Published On Nov 27, 2024, 4:12 PM
US stocks dipped as the market reacted to inflation data showing little progress towards the Federal Reserve's 2% target and corporate earnings miss. The S&P 500, Dow Jones, and Nasdaq saw declines amidst concerns over inflation's stagnation and the impact of potential tariffs under the new administration. Additionally, Dell and HP shares plunged after Dell reported weaker than expected quarterly revenue, citing declining PC demand and cautious guidance on future AI spending. The overall labor market shows signs of stagnation with fewer job openings but low unemployment claims, indicating a mixed economic outlook.
Stock Forecasts
NVDA
Negative
Anticipating continued declines in the tech sector influenced by poor earnings reports and rising inflation concerns, particularly for companies tied to consumer electronics and technology. The backdrop of uncertainty surrounding economic conditions and potential new tariffs may pressure tech stock performance.
DELL
Negative
Dell's substantial drop in share price following a significant earnings miss indicates a challenging environment for PC manufacturers as consumer demand wanes. This could persist if trends in PC demand continue downwards as projected.
F
Negative
Given the broader economic impact of potential tariffs and ongoing inflation sluggishness, automakers like Ford may feel squeezed, with costs likely passed onto consumers, affecting affordability and demand for vehicles.
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