New Record High in S&P 500 and Dax 30, Nvidia Stock Gains 2.5%

Today stock markets continued the upside momentum early in US session, with the S&P 500 and Dow making another record high, while Nasdaq lagged despite the surge in the Nvidia stock in the US open. European stock indices were also higher earlier, with the DAX 30 also printing a new all time high as well, but they retreated toward the end if the European session.

S&P 500 Chart Daily – Forming A Doji After the New High

After the U.S. stock market opened, European markets followed suit, pulling back along with the U.S. markets after initially celebrating the ECB’s rate cut. The German DAX hit a record high of 19,606 points before retracing some gains but still ended the day up by 0.7%. Here are the closing changes for key European indices:

Daily Price Changes for European Bourses

• Stoxx 600: +0.7%
• German DAX: +0.7%
• France CAC: +1.3%
• UK FTSE 100: +0.7%
• Spain IBEX: -0.7%
• Italy’s FTSE MIB: +1.0%

However, the stock market’s retreat intensified towards the end of the US session, and the S&P index as a whole snatched loss from the mouths of victory. The S&P index closed with a little decline. Following the erasure of earlier gains, the NASDAQ index is closing slightly higher, which Dow Jones made some considerable gains.

Nvidia Stock Chart Daily – Almost Reached A Record High

Closing Prices for Main US Indices

• Dow Industrial Average: Gained 160 points (0.4%), closing at 43,239.
• S&P 500: Slight decline, down 1.00 point (-0.02%) at 5,841.
• NASDAQ: Up 6.53 points (0.05%), ending at 18,374.
• Russell 2000 (Small-cap): Fell 6 points (-0.3%) to 2,280.

Netfix Earnings Highlights:

• Netflix Inc (NFLX):
  • Q3 2024 Results:
    • EPS: $5.40 (beat expectations of $5.12)
    • Revenue: $9.82 billion (beat expectations of $9.76 billion)
  • Q4 Guidance:
    • Revenue: $10.13 billion (exceeding $10.05 billion expectation)
    • EPS: $4.23 (beat expectations of $3.90)
    • Operating Margin: 22% (met expectations of 21.2%)
  • FY25 Guidance:
    • Revenue: Projected between $43-44 billion (in line with $43.4 billion forecast)
    • Operating Margin: 28% (met expectations of 27.9%)
  • Stock Movement: Shares up $34.85 or 5.10%, trading at $722.90.
• Intuitive Surgical Inc (ISRG):
  • Q3 2024 Results:
    • EPS: $1.84 (beat expectations of $1.64)
    • Revenue: $2.04 billion (beat expectations of $2.01 billion)
  • Stock Movement: Shares increased by $33.27 or 7.02%, trading at $507.

S&P 500 Live Chart

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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