Stock market today: Nasdaq leads stock declines as Nvidia, chip stocks sell off

Published On Oct 15, 2024, 4:06 PM

US stocks closed lower, driven down by disappointing earnings from ASML Holding, which negatively impacted semiconductor stocks like Nvidia and AMD. The Dow Jones and S&P 500 both fell by approximately 0.8%, while the Nasdaq Composite declined by around 1%. Earnings season has begun with mixed results; Goldman Sachs reported strong profits while UnitedHealth Group's guidance disappointed. Additionally, oil prices dropped as political tensions eased in the Middle East, and Walgreens saw a stock increase due to its store closure strategy. Investors are closely monitoring upcoming earnings from high-profile companies like Netflix.

Read full article

Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

Stocks are likely to face downward pressure, particularly in the semiconductor sector, following ASML's earnings report. Overall market volatility may increase as more companies report earnings, creating uncertainty for investors.

WBAView WBA chart on TradingView

Positive

Walgreens strategy may bolster its stock performance given the positive market reaction to its store closures, which are part of a turnaround plan. This could lead to favorable earnings announcements in the future.

Related News

Stock market today: Stocks retreat from records as Nvidia, ASML lead chipmakers lower

Oct 15, 2024, 11:20 AM

As a fresh wave of earnings rolls in, hopes are for further positive surprises.

NVDA
AAPL
BA

Nvidia stock tumbles from record high on news of possible US chip export cap, ASML's dismal earnings

Oct 15, 2024, 12:32 PM

Nvidia and other chip stocks sank Tuesday following news of potential US export caps and a dismal earnings report from semiconductor equipment manufacturer ASML.

NVDA

Stock market today: S&P 500 holds near record high with big bank earnings in focus

Oct 15, 2024, 11:08 AM

As a fresh wave of earnings rolls in, hopes are for further positive surprises.

GS
BAC
WBA
XLE