Stock market today: Dow slides, Nasdaq pops in countdown to consumer inflation data

Published On Dec 10, 2024, 9:43 AM

U.S. stock markets exhibited mixed results as investors remained cautious ahead of the upcoming consumer inflation report. The Dow Jones Industrial Average fell about 0.3%, while the S&P 500 was slightly positive, and the Nasdaq Composite rose by over 0.3%. Notable stock movements included a 5% increase in Alphabet's shares due to advancements in quantum computing, and an 8% drop in Oracle's shares following disappointing quarterly revenue. Overall, investors are looking for signs in the inflation report that might lead to interest rate cuts by the Federal Reserve.

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Stock Forecasts

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GOOGL View GOOGL chart on TradingView

Positive

Alphabet's significant jump in stock price following positive news about its quantum computing advancements could indicate strong future performance, especially with the tech sector historically responding favorably to such innovations.

ORCL View ORCL chart on TradingView

Negative

Oracle's disappointing quarterly results amid fierce competition in the cloud sector suggest ongoing challenges, likely leading investors to reevaluate its growth prospects in the near term.

TSM View TSM chart on TradingView