Mixed day in the stock market: S&P 500 and Nasdaq slightly higher, while Arm Holdings fell.

From CNBC: 2024-07-29 16:37:00

The S&P 500 and Nasdaq ended slightly higher, with the S&P climbing 0.08% and Nasdaq gaining 0.07%. Arm Holdings slipped on a HSBC downgrade, expecting shares to fall nearly 30%. Tesla rose over 5% after being named Morgan Stanley’s top auto pick, replacing Ford. The Roundhill Magnificent Seven ETF rose nearly 1.2% for the second day. McDonald’s stock jumped over 4% on plans to focus on affordability. The Russell 2000 small caps are pacing for a bearish ‘outside day’. On Semiconductor surged nearly 13% on an earnings beat. Walt Disney and Dexcom stocks rose midday, while McDonald’s customers resisted higher menu prices in the latest quarter. The iShares Russell 2000 ETF rose in premarket trading, signaling a potential ongoing rally in small caps.



Read more at CNBC: Stock market news for July 29, 2024