Stock Markets Decline as Big Tech Reports Loom
Although Alphabet (GOOGL) saw a boost in its stock price after earnings, driving the Nasdaq to a record high at the start of the day, the tech-focused index ended lower, breaking its four-day winning streak. The S&P 500 and the Dow Jones also fell by the end of trading. Investors are keeping an eye on upcoming earnings reports from other major technology companies, including Apple (AAPL), Amazon.com (AMZN), and Microsoft (MSFT).
Here’s what you need to know about today’s market:
- Insights on the Alphabet stock reaction.
- Big expectations for earnings recovery in blue-chip stocks.
- Updates on semiconductors, social media stocks, and a caution from Rocky White about a potential decline.
5 Key Highlights from Today
- The U.K.’s Labour Party issued its first budget, which was less aggressive than anticipated, providing some market relief. (Reuters)
- Ahead of its earnings, Apple announced new MacBook Pro laptops featuring enhanced M4 chip processors. (CNBC)
- Two semiconductor stocks are generating buzz.
- Social media stocks are experiencing a post-earnings boost.
- Concerns grow about a potential market downturn.
Strong Performance for Oil and Gold
Oil prices increased due to an unexpected decline in inventories and rising gasoline demand. The price of November-dated West Texas Intermediate (WTI) crude rose by $1.40, or 2.1%, to reach $68.61 per barrel for the day.
Gold futures also posted gains, closing up 0.7% or $19.70 at $2,800.80, after surpassing the $2,800 mark earlier in the afternoon.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
