Stock market today: Dow, Nasdaq, S&P 500 rise as Wall Street eyes a new year comeback
Published On Jan 2, 2025, 12:05 PM
The stock market opened the year with gains, with the S&P 500, Dow, and Nasdaq all rising following a strong 2024. Major tech stocks like Nvidia, Amazon, and Meta performed well, sparking optimism, especially related to AI advancements. Conversely, Tesla's stock dropped almost 6% due to a decline in annual vehicle deliveries for the first time since 2011, compounded by negative headlines regarding a Cybertruck explosion in Las Vegas. Apple shares fell around 2% after offering discounts in China, highlighting increasing competition from local manufacturers.
Stock Forecasts
NVDA
Positive
Major tech stocks are showing strong momentum as investors are optimistic about their roles in driving future market growth. The positive market sentiment overall may provide support for further gains.
TSLA
Negative
Despite its recent strong performance still on an annual basis, Tesla's challenges and negative headlines around delivery performance could lead to continued pressure on its stock price in the near term.
AAPL
Negative
Apple's price discounts indicate increased competition and may put pressure on margins, which could negatively impact the stock in the short term.
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