Stock market today: Dow, S&P 500, Nasdaq slip as Nvidia drops

Published On Dec 9, 2024, 12:31 PM

The U.S. stock market has seen a downturn, particularly as Nvidia's shares fell over 3% due to a Chinese antitrust investigation. As a result, the Dow Jones and S&P 500 dropped by 0.2% and 0.4% respectively, while the Nasdaq Composite experienced a 0.5% decline. Investors are awaiting the upcoming consumer inflation report, which is critical for gauging the Federal Reserve's interest rate decisions, particularly a potential quarter-point cut expected on December 18.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

Nvidia's stock is likely to continue facing pressure in the short term due to regulatory concerns and competitive risks highlighted by analysts. The broader market may also exhibit weakness as investors react to upcoming economic data, influencing Fed policy.

BABAView BABA chart on TradingView

Positive

Given the response of U.S. listed Chinese stocks to China's eased monetary policy, these stocks might see continued upward momentum. This shift could attract investors looking for value in the wake of global economic adjustments.

CMCSAView CMCSA chart on TradingView

Negative

Comcast's recent guidance suggesting a larger decline in broadband subscribers than previously expected indicates potential challenges ahead, which could adversely affect its share price.

TSLAView TSLA chart on TradingView

Positive

Tesla's stock performance is buoyed by positive sentiment and strong ties with the new administration's policies, suggesting it may continue to rise in the short term.

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