Stock market today: Dow, S&P 500, Nasdaq steady, bitcoin slumps after Christmas break
Published On Dec 26, 2024, 12:52 PM
US stocks showed little movement as trading resumed after the Christmas break, with the S&P 500, Nasdaq, and the Dow fluctuating between gains and losses. The only noteworthy economic data this week indicated a slight decrease in weekly jobless claims but a noticeable rise in continuing claims, which suggests a softening labor market. Meanwhile, bitcoin fell, affecting crypto-related stocks. Shares of GameStop rose due to a tweet from a notable investor, while Apple stock reached an intraday high following an analyst's optimistic projections.
Stock Forecasts
AAPL
Positive
The overall market sentiment is mixed, with specific stocks and sectors reacting to individual news events. GameStop's spike indicates investor enthusiasm often tied to social media activity. Apple's positive outlook from analysts could suggest upward momentum for its stock as it approaches significant milestones in market cap and performance.
NVDA
Negative
Despite the minor gains from stocks like GameStop and Apple, the general trend for tech stocks seems cautious due to mixed data from the labor market and external economic pressures. This may indicate a period of consolidation or slight retreat in tech stock values.
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