From Nasdaq: 2024-06-24 18:05:00

Market indices saw a mix of gains and losses at the start of the trading week. The Dow rose by 0.67%, while the Nasdaq fell by 1.09% and the S&P 500 by 0.31%. This marks the final trading week of Q2 and 1H24, with NVIDIA’s stock down by 6.6% today.

The Dow’s five-day winning streak has been fueled by the Energy sector, with companies like Baker Hughes and Schlumberger up by 4.5% and 4.1% respectively. Despite the leveling off of tech stocks, Energy companies like Devon and Occidental were up by 4% on the day, while Exxon Mobil rose by 3%.

Looking ahead, Friday’s Personal Consumption Expenditures results are anticipated to be around mid-2% levels for May. Pool Corp. has experienced a significant downturn and now expects a decrease of 15-20% in new pool construction for 2024. Earnings are forecasted to be in the range of $11.04-11.44 per share, a drop from previous estimates.

Analysts predict a potential +10-20% jump in certain stocks when they announce earnings. Companies like Devon Energy, Exxon Mobil, Schlumberger Limited, Occidental Petroleum Corporation, NVIDIA Corporation, and Pool Corporation offer free stock analysis reports for investors. This news reflects ongoing market trends and shifts in various sectors.



Read more at Nasdaq: A.I. Trade Rolls Over to Energy; Consumer Discretionary in Focus