From Nasdaq: 2024-11-18 18:05:02

The S&P 500 and Nasdaq 100 closed higher, while the Dow Jones fell to a 1-1/2 week low. Positive corporate news boosted tech stocks like Tesla (+5%) and AMD (+3%). Bond yields fell, supporting stocks. Nike (-2%) and Nvidia (-1%) dragged the Dow lower. US economic news showed a strong rise in Nov NAHB housing index.

Overseas markets saw losses. European bonds were mixed. T-notes rose on reports of Treasury Secretary support. ECB members warned of recession risks. Swaps indicate a rate cut by the ECB. Stock movers included Super Micro Computer (+13%) and Tesla (+5%).

US stock movers also included Henry Schein (+7%) and Moderna (+7%). Dell Technologies and Shift4 Payments both rose more than 3%. Newmont agreed to sell Musselwhite operation for $850 million. Palantir Technologies (-6%) and Nike (-2%) were among the losers.

Earnings reports on 11/19 from companies like Lowe’s, Walmart, and Medtronic will be closely watched. Earnings in S&P 500 beat estimates. Markets anticipate a rate cut at the December FOMC meeting. European markets closed lower, with bonds mixed. ECB members warn of recession risks. Swaps indicate a rate cut by the ECB.



Read more at Nasdaq: Stocks Settle Mostly Higher on Tech Stock Strength and Lower Bond Yields