Stocks Dip, Bitcoin Surges, Euro Weakens | Daily Market Update
Tech Stocks Under Pressure, Inflation Data Looms
February 23, 2024- US Stocks Hit Record Highs, Tech Sector Fuels Rally
Nvidia Soars, European Markets Gain, and Key Forex Trends
U.S. stock indexes retreated from their record-high levels. The Dow Jones Industrial Average dropped 274 points (-0.71%) to 38,380, the S&P 500 fell 15 points (-0.32%) to 4,942, the Nasdaq 100 was down 29 points (-0.17%) to 17,613.
Nvidia (NVDA) gained 4.79% to $693.32, marking a third consecutive record close. Goldman Sachs raised its price target on the stock to $800. Tesla (TSLA) fell 3.65% to $181.06, the lowest close since May 2023. ON Semiconductor (ON) jumped 9.54% as fourth-quarter results exceeded market expectations.
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Nvidia (NVDA) contributed to the pressure on the Nasdaq 100 index as it slid a further 1.93%. Reuters reported that the chip-maker is delaying the launch of a new artificial intelligence chip for Chinese customers.
US Stocks Fall as Inflation Holds Pace
Dow Jones Drops 173 Points, S&P 500 Sheds 27 Points, Nasdaq 100 Closes Lower by 57 Points
U.S. Stocks Rally for a Third Session, Bitcoin Gets Boost from Ruling
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Dow, S&P 500 Rise After Trump Tweets Jawbone Stocks Higher
Equities are gaining ground as risk assets attempt to stage a comeback after Trump's latest jawboning tweets on the US-China trade war. But, effectiveness may prove difficult as the President has a history of attempting to move markets.
Dow Jones, S&P 500 Price Outlook: Will Tech Continue the Rally？
With the S&P 500 at record highs, will tech continue to carry the index higher or will traders look elsewhere to fuel a continuation rally？
Should Stock Market Investors Listen to the ‘Sell in May and Go Away’ Anomaly？
History shows that equity returns are lower on average beginning in May which has led to the 'Sell in May and Go Away' stock market anomaly. What might this mean for stocks now？
NZD/USD Downtrend Pauses, 3M Job Cuts Sink Dow Jones, JPY May Gain
The NZD/USD downtrend paused on resistance as dismal US initial jobless claims hurt the US Dollar. 3M job cuts sunk the Dow Jones, S&P 500 futures hint the Japanese Yen may gain.
US Household Net Worth Collapses by Nearly $4 Trillion
US Household Net Worth falls by most since the financial crisis to $104.3 Trillion at the end of 2018.