S&P 500 CLose Down With European and US Stock Markets
Stock markets have seen a major rally in 2024, with the S&P 500 index claiming the 5,00 point level first, then climbing above 5,300 points.
Stock markets have seen a major rally in 2024, with the S&P 500 index claiming the 5,00 point level first, then climbing above 5,300 points. However today both European stock markets and US stocks retreated lower ahead of the Nvidia earnings, which will be released later.
After the negative close for European stock markets such as the German index DAX 30, the US stock market faced downward pressure as well, with major indices showing losses amid investor caution. Nvidia’s upcoming earnings release is a key focal point, with the company’s performance likely to impact market sentiment and stock price movements. Traders will closely monitor earnings results today and guidance from Nvidia, so we might see some major bullish or bearish gap in the opening tomorrow.
S&P 500 Chart H4 – MAs Have Been Acting As Support
US Stock Market Update
Current Market Performance:
- Major Indices Decline: The major US stock indices have turned bearish, with losses ranging from -0.64% to -0.77%.
- Dow Industrial Average: Down -0.77% at 39563.65.
- S&P Index: Down -0.64% at 5287.18.
- NASDAQ Index: Down -0.68% at 16717.90.
Company-Specific Movement:
- Nvidia Shares: Nvidia shares are experiencing a decline of -1.9%, trading at $935.
- Intraday Low: The stock reached an intraday low of $932.49.
- Earnings Release: Nvidia is set to release its earnings report after the market closes, contributing to the volatility in its share price.
Analysis:
- Market Sentiment:
- Bearish Turn: The overall sentiment in the US stock market has turned bearish, reflected in the declines across major indices.
- Investor Caution: Traders and investors may be exercising caution ahead of Nvidia’s earnings release, contributing to the downward pressure on stocks.
- Index Performance:
- Dow Industrial Average: The Dow Jones Industrial Average is the worst performer among the major indices, showing a decline of -0.77%.
- S&P Index: The S&P 500 index is down -0.64%, reflecting broad-based weakness across sectors.
- NASDAQ Index: The tech-heavy NASDAQ index is also experiencing losses, down -0.68%.
- Nvidia Earnings Expectations:
- Market Reaction: Nvidia’s shares are declining ahead of its earnings report, indicating that investors may be pricing in certain expectations or uncertainties related to the company’s performance.
- Volatility Anticipation: The anticipation of Nvidia’s earnings report may be contributing to heightened volatility in its stock price.
S&P 500 Live Chart
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals