Stock market today: S&P 500 posts back-to-back losses for first time since September as rally stalls

Published On Oct 22, 2024, 4:11 PM

U.S. stocks ended mixed as investors processed a bond sell-off and upcoming earnings reports. The S&P 500 and Dow fell slightly while the Nasdaq increased marginally. Concerns about the Federal Reserve's rate cut strategy contributed to cautious trading, with the 10-year Treasury yield stabilizing around 4.2%. Major earnings reports included a notable increase in General Motors' stock after it raised its profit guidance, while GE Aerospace and Verizon saw declines after mixed results. Walmart announced a significant expansion into same-day prescription delivery, boosting its shares temporarily.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

GM View GM chart on TradingView

Positive

General Motors' strong earnings and raised guidance indicate robust growth in the electric vehicle sector. Investors may continue to favor GM as it adapts to market demands and improves profitability.

WMT View WMT chart on TradingView

Positive

Walmart's entry into same-day prescription delivery could enhance its competitive edge in the retail pharmacy market, especially against established players like Amazon and CVS. This move is expected to drive future revenue growth.

XLRE View XLRE chart on TradingView

Negative

With rising yields negatively impacting rate-sensitive sectors such as real estate, the overall market may experience volatility. Investors should be cautious about real estate stocks amidst concerns of sustained higher interest rates.

DJT View DJT chart on TradingView

Neutral

In light of the political climate and upcoming elections, Trump's stock has seen increased interest. However, the uncertainty related to election outcomes could lead to high volatility in Trump's media stock and similar politically influenced assets.

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