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Stock Market Recap as Trading Opens

All three indexes closed positive on Wednesday, and the market is still at an all-time high.

The Dow Jones ended Wednesday’s session at 38,612, and it is expected to increase today with the introduction of Amazon to the index. Walgreens has been exchanged for the online retail giant.

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S&P 500 closed out at 4,981 and fell 0.32% on Wednesday before rising at the last moment. Major stocks like Tesla were down for the day and dropped so significantly as to drag the entire index down. That, despite a good showing from Nvidia for the day and a 13% jump.

The Nasdaq Composite fell 0.32% as well, down to 15,580 but finished the day positive at the last moment.

What Traders Should Expect from Thursday

Because of the surge near the end of trading yesterday, the markets are expected to open above the trendline. We could see a very healthy market that goes positive most of the day thanks to the final upswing on Wednesday.

If economic data continues to look decent, expect the market to continue to an all-time high very soon. Inflation is staying mostly flat, and interest rate cuts are not coming anytime soon, so analysts have to look at job reports and Middle east tension to get some idea of what the economy might do.

Without any serious negative news, the markets should continue forward and show gains very soon. Major stock index movers like Nvidia are going to help keep the markets positive. Even those in decline, like Disney and Super Micro Computer, are mostly going through price corrections rather than decline related to poor sales reports.

US Jobless claims and US PMI data today could move the market, especially after the neutral statements from FOMC Meeting Minutes did nothing to stir up trading. As with most recent economic data, we expect Thursday reports to be mildly positive.



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Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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