Stock market today: Dow ekes out another record amid winning week for stocks

Published On Sep 20, 2024, 4:13 PM

The U.S. stock market mixed on Friday with the Dow Jones Industrial Average reaching a new record, closing above 42,000. The S&P 500 fell by 0.2% and the Nasdaq Composite declined by 0.4% after both indexes enjoyed gains during the week due to excitement over a recent Federal Reserve interest rate cut. This rate cut aims to support the economy, amid ongoing concerns about potential risks to growth. Intel shares surged over 7% on news of a possible Qualcomm takeover, while Qualcomm itself dropped nearly 4%. FedEx reported disappointing profit figures, resulting in a decline in its stock, while Nike's stock rose following the announcement of a new CEO amidst sales pressures.

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Stock Forecasts

INTCView INTC chart on TradingView

Positive

The buzz surrounding a possible acquisition of Intel by Qualcomm has boosted Intel's stock significantly. If the acquisition moves forward, Intel might see further price appreciation.

FDXView FDX chart on TradingView

Negative

With FedEx's underperformance and missing profit estimates, it indicates weakness in demand, and its stock could continue to face pressure.

NKEView NKE chart on TradingView

Positive

Nike's positive market reaction to leadership changes and potential for renewed focus on product development suggests a more positive outlook for its stock in the near term.

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