Stock market today: S&P 500, Nasdaq, Dow slide with rate cuts, sticky inflation in focus

Published On Dec 12, 2024, 4:13 PM

Wall Street faced declines following fresh inflation data, raising concerns about the Fed's interest rate policies. Despite a record high for some tech stocks like Apple, the overall market saw a drop, driven by lower performance in indices such as the S&P 500 and Nasdaq. Adobe's weak revenue forecast negatively impacted its shares, while Nvidia also faced declines due to market uncertainty. Economists expressed caution over initial jobless claims rising, but attributed it to the volatility typical around the holiday season.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

ADBE View ADBE chart on TradingView

Negative

The ongoing concerns regarding inflation and interest rates point towards potential headwinds for equities overall. The pullback of major indices could be indicative of a broader correction phase, particularly following Adobe's disappointing revenue guidance.

NVDA View NVDA chart on TradingView

Negative

While the tech sector saw some discrepancies with individual stocks performing inconsistently, the overall tech market sentiment appears strained. Nvidia, facing regulatory scrutiny and market fluctuations, suggests a cautious outlook.

XLV View XLV chart on TradingView

Positive

Economic conditions suggest a defensive approach may be prudent as the market contemplates future Fed actions. Sector rotation into defensive equities may enhance resilience in such an environment.

Stock market today: S&P 500, Nasdaq, Dow slide with rate cuts, sticky inflation in focus

Stock Forecasts

ADBE View ADBE chart on TradingView

NVDA View NVDA chart on TradingView

XLV View XLV chart on TradingView

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