Sunday, April 14, 2024

DJIA Dow Jones Industrial Average Advanced Charts

Carvana climbed 32.1% after the used car retailer said it expects retail units to grow in 2024. Trading is typically carried out in an open outcry auction, or over an electronic network such as CME’s Globex platform. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average were all set to open lower on Monday as investors trimmed their bets after a bumper week. Your donation today powers the independent journalism that you rely on.

DraftKings — The sports betting stock popped 4% following an upgrade to overweight from equal weight by Barclays. The firm said the stock was at an attractive entry point following a recent pullback. However, the wealth manager also underscored that the market rally is likely to broaden in 2024. Dimon still owns about 7.7 million shares of JPMorgan, according to VerityData.

  1. The S&P 500 opened 0.3% higher, while the Dow Jones Industrial Average gained 102 points, or 0.3%.
  2. Dimon still owns about 7.7 million shares of JPMorgan, according to VerityData.
  3. China’s CSI 300 added 0.2%, set to rise for the ninth straight session if gains hold till the end of the trading day.
  4. It means that to get a spot in the Dow, a company has to innovate, re-innovate and stand the test of time.

Stock futures were little changed on Thursday after both the S&P 500 and Dow Jones Industrial Average reached record highs following a blowout earnings report from Nvidia. Stocks in Korea rose, with the Kospi adding 0.5% after the Nvidia’s blockbuster results helped boost semiconductor stocks globally. Declines in China’s commercial housing sales prices narrowed on a month-on-month basis, according to data from the National Bureau of Statistics. The juggernaut semiconductor name is on pace for a more than 12% gain and headed for its best weekly stretch since May 2023.

“The question from here is do investors shake that momentum? We’ve run up so far, so quickly. It might not make a lot of sense to chase that type of momentum,” said Charlie Ripley, senior investment strategist at Allianz Investment Management. Investing in the DJIA is possible via index funds as well as via derivatives such as option contracts and futures contracts.

Stock Market News Today, 02/26/24 – Futures Down Ahead of Key Economic Data

Nvidia’s 16% jump headlined Thursday’s market action, but the major averages saw sizeable gains across much of the board. Analyst Brandt Montour upgraded the sports betting stock to overweight from equal weight and increased his price target by $9 to $50. Montour’s new price target implies a 22.4% upside over Thursday’s close.

But essentially, the committee considers company growth and investor interest. Check out some of the companies making headlines in extended trading. Goldman Sachs said Thursday that the central bank could be the first to cut rates. Prices continued to drop from last year, falling 0.5% from a year ago or 0.4 percentage points more than the previous month. The bank also reported a $850 million impairment charge due to its stake in Chinese lender Bohai Bank.

Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it. In another sign of how broad the rally was Thursday, the Invesco S&P 500 Equal Weight ETF (RSP) touched a 52-week high and closed nearly 1% higher.

Stock Market News Today, 02/15/24 – Stocks Close Higher amid New Economic Data

The official data showed sales prices of newly built commercial houses in first-tier cities fell 0.3% in January from the previous month, with declines narrowing by 0.1 percentage points from the previous month. While markets are anticipating the first cut to come in June, there’s a rising probability — around 35% as of Friday morning — that the central bank might even wait until July. That contrasts with pricing in early January that had been pointing to cuts starting in March eventually totaling five or six for the year. “We’re less concerned than we were 3-6 months ago over increased competition, and see the ~10% pullback off the highs post its (strong) 4Q report as an attractive near-term entry point,” Montour wrote in a Friday note to clients.

Index Components

And James Angel, a finance professor at Georgetown, says household names like Alphabet have never made the Dow. China’s CSI 300 added 0.2%, set to rise for the ninth straight session if gains hold till the end of the trading day. The January data comes after the country’s troubled property market recorded its worst declines in new home prices in nearly nine years at the end of last year. Hong Kong-listed shares of Standard Chartered rose 2.8% by afternoon trading after the company announced a $1 billion share repurchase program. The full-year outlook is now for three quarter-percentage point cuts, taking the benchmark fed funds rate down to 4.5%-4.75%, according to the CME Group’s FedWatch Tool, which measures futures pricing. The gauge is putting the chance of three cuts at right around 60%.

The Dow is on pace to end this week up about 1.5%, lifted by a group of rallying stocks. The tech sector is close behind consumer staples, and is up about 2.1% week to date. Besides being beneficiaries of the artificial intelligence theme, Marcus also pointed out that many big tech firms have strong balance sheets and earnings growth potential, characteristics that can weather a higher interest rate environment.

“We had been optimistic on RIVN’s product and brand ultimately winning out,” he told clients in a Thursday note. “But a rapidly changing EV backdrop causes us to reassess our demand view and makes RIVN’s current strategy quite onerous on the ramp to profitability and cash flow.” Rivian fell more than 1% before the bell on Friday following a rare double-downgrade from UBS.

China property price declines narrow month-on-month in January

The factor is changed whenever a constituent company undergoes a stock split so that the value of the index is unaffected by the stock split. Analyst Joseph Spak lowered his rating saxo bank broker review to sell from buy and whittled his price target down to $8 from $24. Spak’s new price target shows shares of the electric vehicle maker could fall 30.1% from Thursday’s close.

Nvidia tops $2 trillion market cap

On Thursday, the S&P 500 had its best day since January 2023, while the Nasdaq Composite popped nearly 3% for its best session since February 2023. While tech was the leading sector with a 4.35% gain, industrials and health care each gained more than 1% and hit fresh record closes. Quanta Services was the big winner in industrials, rising more than 10%, while Moderna popped 13.5% to help lift health care.

The Korean won eased against the U.S. dollar on Friday, a day after the Bank of Korea held interest rates. “We have increased full year dividends, up 50%, and have announced a new $1 billion share buyback, bringing our total shareholder distributions to $5.5 billion since January 2022,” the company said in a statement. Shares of DraftKings rallied more than 3% in Friday premarket trading after Barclays turned bullish. The S&P 500 opened 0.3% higher, while the Dow Jones Industrial Average gained 102 points, or 0.3%. In other words, Thursday’s rally ended a streak of 281 trading days without an advance of more than 2% for the broad index, according to Bespoke Investment Group.

With the numbers now in, bulls are calculating Nvidia’s new price-to-earnings ratio, or how much investors are paying for future growth. Put another way, the firm’s profits have been growing faster than its shares. As of June 2021,[update] Goldman Sachs and UnitedHealth Group are among the highest-priced stocks in the average and therefore have the greatest influence on it. The index is maintained by S&P Dow Jones Indices, an entity majority-owned by S&P Global. The ten components with the largest dividend yields are commonly referred to as the Dogs of the Dow. As with all stock prices, the prices of the constituent stocks and consequently the value of the index itself are affected by the performance of the respective companies as well as macroeconomic factors.

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