{"id":48295,"date":"2024-10-28T18:01:32","date_gmt":"2024-10-28T18:01:32","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/"},"modified":"2024-10-28T18:01:32","modified_gmt":"2024-10-28T18:01:32","slug":"market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/","title":{"rendered":"Market Recap: Stocks Rise as Big Tech Earnings Loom on October 28, 2024"},"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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Major_Indexes_Climb_Amid_Easing_Middle_East_Tensions\" >Major Indexes Climb Amid Easing Middle East Tensions<\/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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Tech_Giants_in_Focus_as_Earnings_Season_Heats_Up\" >Tech Giants in Focus as Earnings Season Heats Up<\/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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Oil_Prices_Tumble_Impacting_Energy_Stocks\" >Oil Prices Tumble, Impacting Energy Stocks<\/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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Key_Economic_Data_on_the_Horizon\" >Key Economic Data on the Horizon<\/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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Notable_Stock_Movements\" >Notable Stock Movements<\/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\/market-recap-stocks-rise-as-big-tech-earnings-loom-on-october-28-2024\/48295\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Climb_Amid_Easing_Middle_East_Tensions\"><\/span>Major Indexes Climb Amid Easing Middle East Tensions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Monday, October 28, 2024, the U.S. stock market showed positive momentum as investors eagerly awaited a week packed with crucial earnings reports and economic data. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> rose 0.5%, the Nasdaq Composite gained 0.6%, and the <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average advanced 287 points, or 0.7%<\/b>. This upward trend was partly fueled by reduced geopolitical risks in the Middle East, following Israel&#8217;s limited retaliatory strike against Iran over the weekend .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Giants_in_Focus_as_Earnings_Season_Heats_Up\"><\/span>Tech Giants in Focus as Earnings Season Heats Up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s attention is firmly fixed on the upcoming earnings reports from major technology companies. <b>Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), and Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) are all set to release their third-quarter results this week<\/b> . Investors are particularly keen to see evidence of these companies monetizing their artificial intelligence capabilities and maintaining robust sales growth.<\/p>\n<p>The performance of these tech behemoths is crucial for the overall market, as they collectively account for more than a fifth of the S&#038;P 500&#8217;s value, with a combined market capitalization exceeding $10 trillion .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Oil_Prices_Tumble_Impacting_Energy_Stocks\"><\/span>Oil Prices Tumble, Impacting Energy Stocks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A significant development in today&#8217;s trading was the sharp decline in oil prices. <b>Crude oil prices fell more than 5% after Israel&#8217;s strike on Iran spared oil infrastructure<\/b> . This drop in oil prices has had a ripple effect on the stock market, with energy stocks like <b>ExxonMobil (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XOM\">XOM<\/a>), Chevron (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CVX\">CVX<\/a>), Valero Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VLO\">VLO<\/a>), and Diamondback Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=FANG\">FANG<\/a>) all experiencing declines<\/b> .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Economic_Data_on_the_Horizon\"><\/span>Key Economic Data on the Horizon<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are also bracing for important economic indicators later this week. The Federal Reserve&#8217;s preferred inflation measure, the personal consumption expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) index, is expected to be released. <b>Economists anticipate a year-over-year gain of 2.1%, a figure that would likely satisfy markets<\/b> given the Fed&#8217;s stated intention to cut interest rates if inflation continues to move towards the 2% target .<\/p>\n<p>Additionally, <b>the U.S. employment report for October is due on Friday, with economists forecasting 110,000 job additions, a decrease from September&#8217;s 254,000<\/b> . Market participants are hoping for a strong job market, but not so robust that it might deter the Federal Reserve from considering rate cuts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several individual stocks made significant moves in today&#8217;s trading:<\/p>\n<p>1. <b>Boeing (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BA\">BA<\/a>)<\/b> launched a substantial stock sale that could raise around $19 billion, aimed at shoring up its finances. The company&#8217;s shares were down nearly 2% in early trading .<\/p>\n<p>2. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>), Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>), and Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>)<\/b> all saw gains in early trading, reflecting the overall positive sentiment in the tech sector .<\/p>\n<p>3. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b> continued its upward trajectory, building on a 25% gain over the previous two sessions following better-than-expected earnings .<\/p>\n<p>4. <b>Coinbase (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=COIN\">COIN<\/a>)<\/b> saw a 3.6% increase, buoyed by a 2.5% rally in Bitcoin .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the week progresses, market participants will closely monitor the slew of earnings reports, particularly from the tech giants. The outcomes of these reports, combined with the upcoming economic data, will likely set the tone for market sentiment in the near term. Additionally, investors will keep a watchful eye on geopolitical developments in the Middle East, as any escalation could quickly shift market dynamics.<\/p>\n<p>In conclusion, while today&#8217;s market showed resilience and optimism, the coming days promise to be pivotal in determining the market&#8217;s direction as we approach the final months of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Climb Amid Easing Middle East Tensions On Monday, October 28, 2024, the U.S. stock market showed positive momentum 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