Stock market today: Dow eyes longest losing streak since 1978 as stocks slide ahead of Fed decision

Published On Dec 17, 2024, 2:58 PM

US stocks, including the Dow Jones Industrial Average, are experiencing significant losses, with the Dow on track for its longest losing streak in 46 years. Major stock indices fell due to investor caution ahead of a Federal Reserve meeting expected to result in a rate cut. Retail sales data showed unexpected resilience with a 0.7% increase, indicating strong holiday spending. Nvidia's stock is facing downward pressure amid concerns about slowing AI spending and increased competition. Bitcoin prices surged recently, fueled by speculation surrounding Trump's presidency.

Read full article

Stock Forecasts

AI prediction results, not representative of any investment advice.

NVDA View NVDA chart on TradingView

Negative

The uncertainty surrounding Nvidia due to competition and AI spending fears suggest a negative outlook for the stock. Additionally, broader market trends indicate potential continued volatility with investor caution likely leading to further losses across the sector.

XLY View XLY chart on TradingView

Positive

The recent increase in retail sales reflects consumer strength and may positively impact stocks related to retail and discretionary spending. This could provide a stable investment climate leading into the holiday season, suggesting an overall positive forecast for related sectors.

TSLA View TSLA chart on TradingView

Positive

Given Tesla's recent performance and the upgrade from Mizuho indicating a positive outlook, continued market speculation surrounding EVs and favorable regulatory changes could favor a rise in its stock price.

Related News

Tesla stock jumps to another high as Mizuho more than doubles price target to $515

Dec 17, 2024, 11:30 AM

Tesla stock’s end-of-year rampage rolled on, with shares hitting another high based on optimism for Tesla's "autonomous opportunity" and a Trump-controlled executive branch.

TSLA

The inflation you don’t see

Dec 17, 2024, 1:21 PM

Inflation is now a services problem, with the cost of rent, insurance, pet care, and many other things rising by more than incomes.

VNQ

XLY

Elon Musk and SpaceX Face Federal Reviews After Violations of Security Reporting Rules

Dec 17, 2024, 1:14 PM

Federal agencies have opened at least three reviews into whether the company and its leader complied with disclosure protocols intended to protect state secrets, people with knowledge of the matter said.