{"id":48290,"date":"2024-10-25T21:28:27","date_gmt":"2024-10-25T21:28:27","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-friday-october-25-2024-why-was-the-market-up-today\/48290\/"},"modified":"2024-10-25T21:28:27","modified_gmt":"2024-10-25T21:28:27","slug":"stock-market-recap-friday-october-25-2024-why-was-the-market-up-today","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-friday-october-25-2024-why-was-the-market-up-today\/48290\/","title":{"rendered":"Stock Market Recap: Friday, October 25, 2024 &#8211; Why Was the Market Up Today?"},"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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Major_Market_Indexes_End_Mixed_Breaking_Winning_Streak\" >Major Market Indexes End Mixed, Breaking Winning Streak<\/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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Current_Market_Performance\" >Current Market Performance<\/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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Key_Factors_Driving_Todays_Market\" >Key Factors Driving Today&#8217;s Market<\/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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Major_Stock_Movements\" >Major Stock Movements<\/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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Upcoming_Market_Events\" >Upcoming Market Events<\/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-friday-october-25-2024-why-was-the-market-up-today\/48290\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Market_Indexes_End_Mixed_Breaking_Winning_Streak\"><\/span>Major Market Indexes End Mixed, Breaking Winning Streak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market closed with mixed results on Friday, October 25, 2024, ending a six-week winning streak for major indexes. <b>The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> finished relatively flat, while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average declined and the Nasdaq Composite managed to eke out a gain<\/b>. This mixed performance came as investors digested the latest economic data and corporate earnings reports.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Market_Performance\"><\/span>Current Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the market close on Friday:<\/p>\n<p>&#8211; <b>S&#038;P 500: 5,860.02, up 50.16 points (+0.86%)<\/b><br \/>&#8211; <b>Dow Jones Industrial Average: 42,547.92, up 173.56 points (+0.41%)<\/b><br \/>&#8211; <b>Nasdaq Composite: 18,681.56, up 266.07 points (+1.44%)<\/b><br \/>&#8211; Russell 2000: 2,234.49, up 15.56 points (+0.70%)<\/p>\n<p>Despite the day&#8217;s gains, the S&#038;P 500 ended the week 1% lower, marking its first weekly loss since early September. The Dow also posted its first weekly decline after six consecutive weeks of gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Factors_Driving_Todays_Market\"><\/span>Key Factors Driving Today&#8217;s Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. <b>Economic Data<\/b>: The Labor Department reported that initial jobless claims decreased to 227,000 for the week ended October 19, down 15,000 from the previous week&#8217;s revised level. This data suggests continued resilience in the job market.<\/p>\n<p>2. <b>Housing Market<\/b>: New home sales for September 2024 came in at 738,000, according to a joint report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This figure surpassed the revised August number of 709,000, indicating strength in the housing sector.<\/p>\n<p>3. <b>Corporate Earnings<\/b>: Positive earnings reports from several companies contributed to the market&#8217;s performance. Notable gainers included Capital One Financial (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=COF\">COF<\/a>), which rose 5.2% after beating Wall Street&#8217;s third-quarter forecasts, and Deckers Outdoor (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DECK\">DECK<\/a>), which climbed 10.6% after raising its financial outlook for the year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_Movements\"><\/span>Major Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several stocks made significant moves on Friday:<\/p>\n<p>&#8211; <b>NVIDIA Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>: Up 2.25% to $143.57<br \/>&#8211; <b>Tesla, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: Gained 1.79% to $265.13<br \/>&#8211; <b>Capri Holdings Limited (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPRI\">CPRI<\/a>)<\/b>: Plummeted 47.36% to $21.90 after a judge halted its acquisition by Tapestry<br \/>&#8211; <b>Tapestry, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TPR\">TPR<\/a>)<\/b>: Surged 15.43% to $51.33 following the Capri Holdings news<br \/>&#8211; <b>Spirit Airlines (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SAVE\">SAVE<\/a>)<\/b>: Jumped 15.3% after announcing job cuts and plans to sell airplanes<br \/>&#8211; <b>McDonald&#8217;s Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCD\">MCD<\/a>)<\/b>: Fell 3% amid an expanding E. coli outbreak linked to its Quarter Pounders<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors should keep an eye on several key economic reports scheduled for next week:<\/p>\n<p>1. Consumer Confidence Index<br \/>2. Job Openings and Labor Turnover Survey (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=JOLTS\">JOLTS<\/a>)<br \/>3. ADP National Employment Report<br \/>4. ISM Manufacturing Index<br \/>5. Nonfarm Payrolls and Unemployment Rate<\/p>\n<p><b>Of particular importance will be the Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) Price Index<\/b>, the Federal Reserve&#8217;s preferred inflation gauge. Economists expect this report to show that the rate of inflation has eased to 2%, which could influence the Fed&#8217;s decision on interest rates at its upcoming November meeting.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While the market experienced a slight pullback this week, the overall economic picture remains relatively strong. <b>The combination of a resilient job market, robust housing data, and mostly positive corporate earnings suggests that the U.S. economy continues to perform well<\/b>. However, investors remain cautious due to concerns about stock valuations and the potential impact of higher Treasury yields.<\/p>\n<p>As we move into the final months of 2024, market participants will be closely monitoring inflation data, Federal Reserve policy decisions, and ongoing geopolitical developments. The upcoming economic reports and the conclusion of the Q3 earnings season will likely play crucial roles in determining market direction in the near term.<\/p>\n<p>In conclusion, while the stock market&#8217;s six-week winning streak has come to an end, the underlying economic fundamentals appear to be holding steady. Investors should remain vigilant and prepared for potential volatility as they navigate the complex interplay of economic data, corporate performance, and monetary policy in the weeks ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Market Indexes End Mixed, Breaking Winning Streak The U.S. stock market closed with mixed results on Friday, October 25, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[3818,4,69,633,675,3191,3749,3804,3812,3813],"class_list":["post-48290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-jolts","tag-tsla","tag-mcd","tag-nvda","tag-deck","tag-save","tag-pce","tag-cof","tag-cpri","tag-tpr"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=48290"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=48290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}