The Dow Jones Industrial Average (DJIA) experienced significant volatility, reflecting the tense mood of Wall Street. The index witnessed several sharp declines, with notable falls of 400 points, one being its worst drop since early September. This came amid record highs for both Dow and S&P, bolstered by Netflix earnings and tech stocks. McDonald's shares, however, plunged significantly due to an E-Coli outbreak and sagging demand, which weighed heavily on the DJIA. McDonald's, Goldman Sachs and 3M stocks led losses, distinctly dragging the index down.
Meanwhile, despite DJIA's retreat, Nasdaq and S&P 500 hit fresh records, including S&P 500's longest winning streak of the year and Nasdaq's longest weekly winning streak of 2024. Both benefited from Tesla's surge and tech stocks. However, Nasdaq’s 5-day winning streak was snapped as tech stocks slid. On the other hand, Tesla's post-earnings surge and Nvidia's fresh highs helped limit the DJIA's losses.
Investors appeared uneasy ahead of the election and continually eyed earnings, particularly from the big tech companies. Amidst all the turmoil, Treasury yields continued to rise, impacting the overall market.
Dow Stocks DOW News Analytics from Tue, 08 Oct 2024 07:00:00 GMT to Sat, 26 Oct 2024 18:09:00 GMT - Rating -5 - Innovation 0 - Information 5 - Rumor -2