Nasdaq and S&P 500 Still Outperforming Dow
Last week saw record highs for the S&P 500 and the Nasdaq Composite. They both slowed down as the week ended but are gearing up again for a strong week.
The Dow Jones, meanwhile, is lagging behind. That index lost 0.28% on Friday before the close of trading. The S&P 500 climbed by 0.25%, while the Nasdaq added 0.81%. The markets were closed at the time of this writing, but trading interest looks high as the week starts.
Stocks to Keep an Eye on
There is still plenty of data from last week to pore over to indicate where the economy is at and where it might be headed. This could be an incredibly profitable holiday season for many retailers, with Wal-Mart (WMT) leading sales in its niche. For two straight months, the WMT stock has been climbing, and they should do even better as December continues.
Oracle Corp (ORCL) is getting ready to release its quarterly earnings report, and their stock has jumped nearly 2% in anticipation. They are expected to report a revenue increase of about 9% for the quarter, compared to the same time last year.
Nvidia (NVDA) is taking quite the dip today, with a drop of 2.24% after the Chinese government announced they would be probing the company on claims of monopolistic behavior. In 2020, Nvidia took over Mellanox Enterprises, and it is that acquisition which has caught the eye of Chinese regulators.
Stock Market Expectations for This Week
Bitcoin investing has cooled slightly as the week starts off, which could have a ripple effect onto the stock market. Now that the coin has retreated slightly from its $100K price, we could see investors back away from some of the related stocks, particularly MicroStrategy (MSTR). That stock was up 2.23% over the weekend but has now dropped to a loss of 0.89%. We anticipate that MSTR will continue to decline throughout the week, as long as Bitcoin trading stays muted.
There is limited economic data coming in this week. The major news to report will be on Final Wholesale Inventories later today. Those numbers are expected to remain on par with last month’s reading.
The outlook for this week is that the stock market will likely cool, coming off of record highs. Dow Jones should pick up slightly and even out with the S&P 500 and Nasdaq indices.
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