Stock market today: Nasdaq soars to record as Tesla, Google, Amazon, Apple hit fresh highs

Published On Dec 16, 2024, 4:03 PM

The Nasdaq Composite reached a new record high, driven by significant gains in major technology stocks like Alphabet, Tesla, and Amazon, while Bitcoin surged to a fresh all-time high. The upcoming Federal Reserve meeting is highly anticipated, with markets expecting a rate cut. Healthcare stocks dipped following remarks from President-elect Trump about eliminating middlemen in the prescription drug market. Conversely, MicroStrategy's stock rose due to its Bitcoin investments and upcoming inclusion in the Nasdaq 100. Super Micro Computer's shares fell amid news of its impending removal from the Nasdaq 100.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

GOOGL View GOOGL chart on TradingView

Positive

Given the current bullish trend in technology stocks and the strong performance of Bitcoin ahead of the Federal Reserve's anticipated interest rate cut, major tech stocks are likely to continue seeing positive performance. With investor sentiment boosting these stocks, they are positioned for further gains in the near term.

MSTR View MSTR chart on TradingView

Positive

MicroStrategy's stock has shown resilience and growth potential as it continues to leverage its Bitcoin holdings. The company's upcoming inclusion in the Nasdaq 100 adds to its market reputation and liquidity, suggesting a favorable forecast for its share performance.

CVS View CVS chart on TradingView

Negative

With healthcare stocks such as CVS, UnitedHealth, and Cigna facing headwinds from regulatory comments that could disrupt their pricing models, a negative outlook is projected for these stocks amidst rising investor uncertainty.

SMCI View SMCI chart on TradingView

Negative

Super Micro Computer's impending removal from the Nasdaq 100 and ongoing financial disclosure issues present a significant risk. Investors might react negatively to these developments as they may indicate deeper operational issues.

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