{"id":48289,"date":"2024-10-25T21:01:45","date_gmt":"2024-10-25T21:01:45","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/"},"modified":"2024-10-25T21:01:45","modified_gmt":"2024-10-25T21:01:45","slug":"stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/","title":{"rendered":"Stock Market Recap: Mixed Performance on Wall Street as Tech Shines and Dow Retreats"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Major_Indexes_Close_with_Divergent_Results\" >Major Indexes Close with Divergent Results<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Tech_Sector_Leads_the_Charge\" >Tech Sector Leads the Charge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Dows_Decline_and_Sector_Performance\" >Dow&#8217;s Decline and Sector Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Economic_Indicators_and_Consumer_Sentiment\" >Economic Indicators and Consumer Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Housing_Market_Shows_Strength\" >Housing Market Shows Strength<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Market_Movers_and_Shakers\" >Market Movers and Shakers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Looking_Ahead_Key_Events_and_Earnings\" >Looking Ahead: Key Events and Earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-mixed-performance-on-wall-street-as-tech-shines-and-dow-retreats\/48289\/#Market_Sentiment_and_Interest_Rate_Outlook\" >Market Sentiment and Interest Rate Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_with_Divergent_Results\"><\/span>Major Indexes Close with Divergent Results<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market concluded Friday, October 25, 2024, with a mixed performance, as investors digested a flurry of economic data and corporate earnings reports. The tech-heavy Nasdaq Composite continued its upward trajectory, while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average extended its losing streak.<\/p>\n<p><b>Here&#8217;s how the major indexes fared:<\/b><\/p>\n<p>&#8211; The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC) edged down 1.74 points or less than a tenth of a percent to close at 5,808.12.<br \/>&#8211; The Dow Jones Industrial Average (^DJI) slid 259.96 points or 0.6 percent, ending at 42,114.40.<br \/>&#8211; The Nasdaq Composite (^IXIC) gained 103.12 points or 0.6 percent, finishing at 18,518.61.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Leads_the_Charge\"><\/span>Tech Sector Leads the Charge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The technology sector continued to be a bright spot in the market, with the Nasdaq reaching a new intraday high before settling slightly lower. This performance was driven by strong showings from major tech companies, as investors anticipate upcoming earnings reports from industry giants.<\/p>\n<p><b>Notable tech stock movements:<\/b><br \/>&#8211; NVIDIA Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>): Up 2.25% to $143.57<br \/>&#8211; Tesla, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>): Gained 1.79% to $265.13<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dows_Decline_and_Sector_Performance\"><\/span>Dow&#8217;s Decline and Sector Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Dow Jones Industrial Average experienced its fifth consecutive day of losses, pulled down by declines in several of its components. The Materials, Health Care, and Utilities sectors were among the weakest performers in the S&#038;P 500.<\/p>\n<p><b>Key sector movements:<\/b><br \/>&#8211; Materials Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLB\">XLB<\/a>): Down 1.2%<br \/>&#8211; Health Care Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLV\">XLV<\/a>): Fell 0.7%<br \/>&#8211; Utilities Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLU\">XLU<\/a>): Decreased 0.7%<br \/>&#8211; Communication Services Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLC\">XLC<\/a>): Rose 3.2%<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Consumer_Sentiment\"><\/span>Economic Indicators and Consumer Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Positive economic data provided some support to the market. The University of Michigan&#8217;s consumer sentiment index for October was upwardly revised to 70.5 from a preliminary reading of 68.9, marking the third consecutive month of increase and reaching its highest level since April.<\/p>\n<p><b>Labor market remains resilient:<\/b><br \/>&#8211; Initial jobless claims: 227,000 for the week ended October 19, down 15,000 from the previous week<br \/>&#8211; Continuing claims: 1,897,000 for the week ended October 12, up 28,000 from the prior week<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Housing_Market_Shows_Strength\"><\/span>Housing Market Shows Strength<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The housing sector displayed signs of resilience, with new home sales data exceeding expectations:<br \/>&#8211; September 2024 new home sales: 738,000<br \/>&#8211; August figure revised down to 709,000 from 716,000<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Movers_and_Shakers\"><\/span>Market Movers and Shakers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several stocks made significant moves on Friday, capturing investors&#8217; attention:<\/p>\n<p><b><a href=\"https:\/\/stockmarketwatch.com\/markets\/topstocks\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Top Stocks\">Top Gainers<\/a>:<\/b><br \/>&#8211; ImmunityBio, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=IBRX\">IBRX<\/a>): Surged 22.57%<br \/>&#8211; Newell Brands Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NWL\">NWL<\/a>): Jumped 22.14%<br \/>&#8211; Tapestry, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TPR\">TPR<\/a>): Climbed 15.43%<\/p>\n<p><b>Top Losers:<\/b><br \/>&#8211; Capri Holdings Limited (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPRI\">CPRI<\/a>): Plummeted 47.36%<br \/>&#8211; TriNet Group, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TNET\">TNET<\/a>): Fell 17.17%<br \/>&#8211; The Bancorp, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TBBK\">TBBK<\/a>): Dropped 15.33%<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Key_Events_and_Earnings\"><\/span>Looking Ahead: Key Events and Earnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are turning their attention to next week&#8217;s economic calendar and a slew of high-profile earnings reports:<\/p>\n<p><b>Upcoming economic data:<\/b><br \/>&#8211; Monthly jobs report<br \/>&#8211; Personal income and spending report (including Fed&#8217;s preferred inflation readings)<br \/>&#8211; Consumer confidence<br \/>&#8211; Pending home sales<br \/>&#8211; Manufacturing sector activity<\/p>\n<p><b>Notable earnings releases:<\/b><br \/>&#8211; Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<br \/>&#8211; Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<br \/>&#8211; Exxon Mobil (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XOM\">XOM<\/a>)<br \/>&#8211; Intel (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=INTC\">INTC<\/a>)<br \/>&#8211; McDonald&#8217;s (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCD\">MCD<\/a>)<br \/>&#8211; Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<br \/>&#8211; Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<br \/>&#8211; Pfizer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PFE\">PFE<\/a>)<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Sentiment_and_Interest_Rate_Outlook\"><\/span>Market Sentiment and Interest Rate Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While optimism about the economy persists, concerns linger regarding the Federal Reserve&#8217;s approach to interest rates. The market is pricing in a 76% probability of a quarter-point rate cut in December, but uncertainty remains about the pace of future rate reductions.<\/p>\n<p>As we move into the final quarter of 2024, investors will be closely monitoring economic indicators, corporate earnings, and Fed communications to gauge the market&#8217;s direction. The mixed performance on Friday underscores the complex interplay of factors influencing investor sentiment in the current economic landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close with Divergent Results The U.S. stock market concluded Friday, October 25, 2024, with a mixed performance, as 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