{"id":48432,"date":"2024-11-20T22:01:35","date_gmt":"2024-11-20T22:01:35","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/"},"modified":"2024-11-20T22:01:35","modified_gmt":"2024-11-20T22:01:35","slug":"market-recap-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/","title":{"rendered":"Market Recap: Wall Street Ends Mixed as Target Tumbles and Nvidia Anticipation Builds"},"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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Major_Indexes_Close_with_Modest_Moves\" >Major Indexes Close with Modest Moves<\/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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Retail_Giant_Target_Leads_Market_Decline\" >Retail Giant Target Leads Market Decline<\/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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Sector_Performance_and_Market_Breadth\" >Sector Performance and Market Breadth<\/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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Earnings_Highlights_and_Economic_Data\" >Earnings Highlights and Economic Data<\/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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Geopolitical_Tensions_and_Market_Sentiment\" >Geopolitical Tensions and Market Sentiment<\/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-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Looking_Ahead_Nvidia_Earnings_and_Market_Expectations\" >Looking Ahead: Nvidia Earnings and Market Expectations<\/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\/market-recap-wall-street-ends-mixed-as-target-tumbles-and-nvidia-anticipation-builds\/48432\/#Year-to-Date_Performance\" >Year-to-Date Performance<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_with_Modest_Moves\"><\/span>Major Indexes Close with Modest Moves<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Wednesday, November 20, 2024, U.S. <b>stock markets closed mixed<\/b>, with the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite ending in positive territory while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average finished slightly lower. The day&#8217;s trading was characterized by subtle movements in the major indexes, masking significant volatility in individual stocks.<\/p>\n<p>The S&#038;P 500 eked out a minimal gain of 0.13 points, or less than 0.1%, closing at 5,917.11. The Dow Jones Industrial Average rose 139.53 points, or 0.3%, to finish at 43,408.47. Meanwhile, the tech-heavy Nasdaq Composite slipped 21.32 points, or 0.1%, ending the session at 18,966.14.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Retail_Giant_Target_Leads_Market_Decline\"><\/span>Retail Giant Target Leads Market Decline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The day&#8217;s biggest story came from the retail sector, where <b>Target Corporation saw its stock plummet more than 21%<\/b>. The dramatic drop followed the company&#8217;s release of weaker-than-expected profit and revenue figures for the latest quarter, coupled with a disappointing forecast for the upcoming holiday shopping season. This performance stood in stark contrast to rival Walmart, which had reported stellar sales and optimistic projections just a day earlier.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Performance_and_Market_Breadth\"><\/span>Sector Performance and Market Breadth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the overall mixed performance, there was notable action beneath the surface. The Communication Services and Technology sectors showed strength, with their respective Select Sector SPDR ETFs (XLC and XLK) rising 0.8% and 0.7%. Conversely, the Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLE\">XLE<\/a>) and Financials (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLF\">XLF<\/a>) sectors faced pressure, declining 0.6% and 0.7%, respectively.<\/p>\n<p>Market breadth was slightly positive, with advancers outnumbering decliners on both the New York Stock Exchange and Nasdaq. The CBOE Volatility Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VIX\">VIX<\/a>), often referred to as the &#8220;fear gauge,&#8221; ticked up 4.9% to 16.35, reflecting increased investor uncertainty.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Earnings_Highlights_and_Economic_Data\"><\/span>Earnings Highlights and Economic Data<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several companies reported earnings that beat analysts&#8217; expectations. <b>Symbotic Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SYM\">SYM<\/a>) reported quarterly earnings of $0.05 per share<\/b>, surpassing the Zacks Consensus Estimate of $0.03 per share. The company&#8217;s stock surged an impressive 27.7% following the announcement.<\/p>\n<p><b>Walmart (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WMT\">WMT<\/a>) continued its strong performance<\/b>, reporting quarterly earnings of $0.58 per share, above the expected $0.53 per share. The retail giant&#8217;s shares climbed 3% in response to the positive results.<\/p>\n<p>On the economic front, <b>housing data released on Wednesday showed mixed signals<\/b>. Housing starts in October came in at 1.311 million units, falling short of the consensus estimate of 1.345 million units. Building permits also missed expectations, coming in at 1.416 million units versus the anticipated 1.44 million. Year-over-year, housing starts jumped 16.8% in October, while building permits experienced a 7.7% decline.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_Tensions_and_Market_Sentiment\"><\/span>Geopolitical Tensions and Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investor sentiment was partially dampened by <b>renewed geopolitical tensions<\/b>. Reports of Ukraine using a U.S.-made missile to strike the Russian border region of Bryansk, coupled with warnings from Russian President Vladimir Putin about lowering the threshold for nuclear strikes, contributed to market unease.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Nvidia_Earnings_and_Market_Expectations\"><\/span>Looking Ahead: Nvidia Earnings and Market Expectations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the trading day concluded, market participants turned their attention to <b>Nvidia&#8217;s upcoming earnings report<\/b>, scheduled for release after the closing bell. The semiconductor giant, which has been at the forefront of the artificial intelligence boom, has seen its stock nearly triple in value this year. The anticipation surrounding Nvidia&#8217;s results underscores the company&#8217;s outsized influence on market direction and investor sentiment in the tech sector.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Year-to-Date_Performance\"><\/span>Year-to-Date Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the day&#8217;s mixed results, the major indexes continue to show strong year-to-date gains. The S&#038;P 500 is up an impressive 24.1%, the Dow has risen 15.2%, and the Nasdaq Composite has surged 26.3% since the beginning of the year.<\/p>\n<p>As markets navigate through earnings season, economic data releases, and geopolitical developments, investors remain cautiously optimistic about the remainder of 2024. The upcoming holiday shopping season and continued focus on AI and tech sector performance are likely to be key drivers of market sentiment in the weeks ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close with Modest Moves On Wednesday, November 20, 2024, U.S. stock markets closed mixed, with the S&#038;P 500 [&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":[277,2005,3730,3760,3909],"class_list":["post-48432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-wmt","tag-xlf","tag-vix","tag-xle","tag-sym"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48432","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=48432"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48432\/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=48432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}