Stock market today: Dow, S&P 500, Nasdaq struggle for gains as Nvidia slips
Published On Dec 9, 2024, 10:15 AM
Today, U.S. stock markets, including the Dow, S&P 500, and Nasdaq, are showing mixed results as investors watch for the upcoming consumer inflation report. Nvidia (NVDA) shares have fallen more than 2% following reports of a Chinese antitrust investigation into the company. The markets also reacted slightly to expectations of a Federal Reserve interest rate decision later this month. Meanwhile, some Chinese stocks like Alibaba (BABA) and XPeng (XPEV) saw gains due to a shift in Chinese monetary policy towards stimulating the economy, signaling potential easing measures.
Stock Forecasts
NVDA
Negative
Nvidia's stock is under pressure due to regulatory concerns in China, which could hinder its share price further in the short term. However, if the upcoming inflation report shows favorable results, it might help alleviate some pressure on tech stocks overall.
BABA
Positive
The recent changes in China's monetary policy may buoy optimism around U.S.-listed Chinese companies. Both Alibaba and XPeng are positioned to gain from improved investor sentiment towards Chinese stocks.
SPY
Neutral
As the consumer inflation report approaches, it is pivotal that investors remain cautious. Any deviations from expected inflation figures may lead to volatile reactions across indices, particularly affecting tech stocks sensitive to interest rate changes.
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