Stock Market Update: Dow and S&P 500 Climb as Nvidia Earnings Shine; Alphabet Stumbles Amid DOJ Move<\/p>\n
US stocks experienced mixed movements on Thursday as investors responded to Nvidia’s robust earnings and Alphabet’s significant decline due to a Department of Justice (DOJ) push to dismantle its operations. The Dow Jones Industrial Average (DJI) led the gains, adding over 450 points (1.1%), while the S&P 500 rose 0.5%. The Nasdaq Composite finished just above flat after paring earlier losses.<\/p>\n
Sector Shifts and Nvidia’s Spotlight
\nInvestors shifted their focus from Big Tech to Utilities (XLU), Industrials (XLI), and Financials (XLF), signaling a rotation in market sentiment. Nvidia emerged as a key driver of the day\u2019s movements. The chipmaker reported impressive earnings, surpassing profit expectations. However, it also projected its slowest revenue growth in seven quarters due to supply chain constraints.<\/p>\n
Nvidia revealed that delivery of its flagship Blackwell chip would be delayed, leading to limited supply until 2026. Analysts interpreted this as a temporary setback, noting that demand would likely surge once supply issues are resolved, especially given Nvidia’s dominance in AI chipmaking. Despite the positive long-term outlook, Nvidia\u2019s shares edged up by less than 1% on Thursday.<\/p>\n
Alphabet\u2019s Setback
\nAlphabet faced a steep decline after the DOJ requested a court order forcing Google to divest its Chrome browser. This move is part of ongoing antitrust scrutiny aimed at curbing Google’s market dominance. The news sent Alphabet\u2019s shares tumbling, marking one of the day\u2019s most significant tech losses.<\/p>\n
Macroeconomic Developments
\nEconomic data also played a role in Thursday’s market dynamics. Weekly jobless claims fell to 213,000, down from the prior week, signaling a robust labor market. Meanwhile, traders are adjusting their expectations for the Federal Reserve\u2019s December meeting. According to the CME FedWatch tool, there\u2019s now a 44% chance the Fed will hold interest rates steady, up from 28% just a week ago.<\/p>\n
Bitcoin Nears Milestone
\nBitcoin briefly surged to a record high of nearly $99,000, inching closer to the landmark $100,000 level. The rally follows news that SEC Chair Gary Gensler will step down in January 2025, fueling optimism among crypto advocates. They hope for a regulatory shift under a more crypto-friendly successor.<\/p>\n
Looking Ahead
\nThe stock market continues to navigate earnings reports, regulatory developments, and economic indicators, with investor sentiment swaying between optimism and caution. Nvidia\u2019s long-term growth potential and Alphabet\u2019s regulatory hurdles will remain in focus as markets head into the final weeks of 2024.<\/p>\n
Source :Swifteradio.com<\/p>\n","protected":false},"excerpt":{"rendered":"
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