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Stock Market Today: Dow rises 700 points after key Fed-watched ...
2024-07-27 23:55:08
Markets
Stocks
Inflation

Stock Market Today: Dow rises 700 points after key Fed-watched inflation data

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US stocks rose on Friday, with the Dow up over 700 points, as investors welcomed new inflation data showing a slower pace of rise and solidifying expectations for interest rate cuts. Recent volatility and losses driven by Big Tech earnings have led to an exodus from megacap stocks and a shift towards small cap stocks.

The surprisingly hot GDP print has eased concerns about softness in the US economy. Bristol Myers Squibb, Colgate-Palmolive, and 3M are expected to report their second quarter updates.

Nvidia shares extended their two-day slump amidst the ongoing selloff in tech stocks. American Airlines shares tumbled after the carrier slashed its 2024 profit forecast.

The market is preparing for the Commerce Department's first estimate of second quarter GDP growth and weekly jobless claims data. Overall, experts warn of a potential stock market crash, but history shows a positive track record for recovery.

Related news on that topic:

Stock Market Update: Dow Rises on Inflation Data; Tech Giants ... Giants Surge

The Dow Jones, S&P 500, and Nasdaq climbed following positive inflation data, with Apple, Nvidia, and Tesla showing strong performance. Notable earnings came from 3M, Bristol-Myers Squibb, and others. Big movers included Meta, Microsoft, and Pfizer, while Dexcom faced a downturn. Economic indicators pointed to rising inflation and increased consumer spending. However, concerns arose as logistics and airlines like UPS and American Airlines lowered earnings forecasts, hinting at potential trade and economic challenges.

Dow Jumps 700 Points on Inflation Data, Tech Stocks Rebound

US stocks surged as fresh inflation figures suggested slower growth, fueling hopes of rate cuts. Amid Big Tech losses, investors turned to small caps, encouraged by robust GDP data. Meta and Microsoft gained, while diabetes stock plummeted. Key economic indicators signal rising inflation and increased consumer spending. Market optimism prevails as confidence grows in the economy's resilience.

Read 17 more recent news on this topic

The press radar on this topic:

Yahoo Finance
26. Juli 2024 um 13:30

Stock market news today: Dow rises 700 points after key Fed-watched inflation data

Finance
Economy
US stocks rose Friday, with the Dow up over 700 points, as investors welcomed new inflation data showing the PCE index and core PCE rising at a slower pace, solidifying expectations for interest rate cuts. Stocks are poised for a comeback after recent volatility and losses driven by Big Tech earnings, including from Apple, Microsoft, Amazon, and Meta, undermining confidence in the AI trade and spurring an exodus from megacaps into small cap stocks, as a surprisingly hot GDP print eased concerns..
The Street
27. Juli 2024 um 13:45

Stock Market Today: Stocks end mixed as tech bounce falls short TheStreet Daily Newsletter

Finance
Technology
Economy
Updated at 4:35 PM EDT by Rob Lenihan Stocks end mixed Thursday, following from the worst day for the S&P 500 and the Nasdaq in nearly two years, as investors continued to dump megacap tech stocks and pare risky bets in markets all over the world. The Dow Jones Industrial Average finished up 81.20 points, or 0.20%, to finish the session at 39,935.07, the S&P 500 lost 0.51% to 5,399.22, while the tech-heavy Nasdaq slipped 0.93% to end the day at 17,181.72. Adam Turnquist, chief technical strate..
The Street
28. Juli 2024 um 00:47

GDP report jolts Fed soft-landing hopes TheStreet Daily Newsletter

Economy
Finance
Investors face upcoming tests, including PCE inflation data, the jobs report, and earnings from tech giants. While a full-blown 10% correction is unlikely, the market is looking for more, especially from AI-related plays, to justify current valuations.
Yahoo Finance
28. Juli 2024 um 21:33

Dow Jones Futures: Huge AI Earnings, Fed Pivot Loom; Here's What To Do | Investor's Business Daily

Finance
Technology
Dow Jones futures, S&P 500, and Nasdaq futures to open Sunday; massive earnings week for tech giants Apple, Microsoft, Meta, Amazon; Fed expected to signal rate cuts; market rally diverged last week, with small caps rising; Nvidia, Google, Meta voice AI spending concerns; best buying opportunities in non-tech sectors; Nvidia, AMD, Apple, Microsoft, Meta, Amazon earnings key; Fed meeting on July 30-31 eyed for rate cut signals; ARK Innovation ETF, ARK Genomics ETF also in focus.
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