{"id":48469,"date":"2024-11-27T19:28:54","date_gmt":"2024-11-27T19:28:54","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-wall-street-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/"},"modified":"2024-11-27T19:28:54","modified_gmt":"2024-11-27T19:28:54","slug":"market-recap-wall-street-wavers-amid-tech-selloff-and-inflation-concerns","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/","title":{"rendered":"Market Recap: Wall Street Wavers Amid Tech Selloff and Inflation Concerns"},"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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Major_Indexes_Performance\" >Major Indexes Performance<\/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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Tech_Sector_Leads_the_Decline\" >Tech Sector Leads the 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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#PC_Market_Woes_Affect_Hardware_Manufacturers\" >PC Market Woes Affect Hardware Manufacturers<\/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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Economic_Data_and_Inflation_Concerns\" >Economic Data and Inflation Concerns<\/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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#GDP_and_Labor_Market_Update\" >GDP and Labor Market Update<\/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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Market_Sentiment_and_Federal_Reserve_Outlook\" >Market Sentiment and Federal Reserve Outlook<\/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-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Corporate_News_and_Trade_Policy\" >Corporate News and Trade Policy<\/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\/market-recap-wall-street-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Looking_Ahead_Key_Events_and_Market_Drivers\" >Looking Ahead: Key Events and Market Drivers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-wavers-amid-tech-selloff-and-inflation-concerns\/48469\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Performance\"><\/span>Major Indexes Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Wednesday, November 27, 2024, the U.S. stock market experienced a mixed session, with major indexes showing divergent trends. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC)<\/b> retreated approximately 0.5% from its recent record high, while the <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b> showed resilience, slipping only about 0.1%. The tech-heavy <b>Nasdaq Composite (^IXIC)<\/b> bore the brunt of the selloff, declining more than 1%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Leads_the_Decline\"><\/span>Tech Sector Leads the Decline<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The day&#8217;s downturn was primarily driven by weakness in the technology sector, particularly among the so-called &#8220;Magnificent Seven&#8221; stocks. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>, a semiconductor giant, saw its shares drop 2.9%, significantly impacting the broader market due to its substantial market capitalization. <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b> also contributed to the tech sector&#8217;s struggles, with its stock falling 0.7%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"PC_Market_Woes_Affect_Hardware_Manufacturers\"><\/span>PC Market Woes Affect Hardware Manufacturers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The personal computer market&#8217;s challenges were evident in the day&#8217;s trading, with major PC manufacturers facing significant pressure. <b>HP Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=HPQ\">HPQ<\/a>)<\/b> plummeted 13.3% after providing a weaker-than-expected earnings forecast for the current quarter. Similarly, <b>Dell Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DELL\">DELL<\/a>)<\/b> experienced a sharp 13.1% decline following disappointing quarterly revenue figures that fell short of Wall Street&#8217;s expectations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_and_Inflation_Concerns\"><\/span>Economic Data and Inflation Concerns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors closely analyzed the latest economic data, particularly focusing on inflation metrics. The <b>Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) index<\/b>, the Federal Reserve&#8217;s preferred inflation gauge, showed signs of persistent inflationary pressures. The core PCE index, which excludes volatile food and energy prices, rose 0.3% month-over-month in October, aligning with expectations. However, the year-over-year increase of 2.8% surpassed September&#8217;s 2.7% reading, raising concerns about the Fed&#8217;s progress in achieving its 2% inflation target.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"GDP_and_Labor_Market_Update\"><\/span>GDP and Labor Market Update<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The second estimate of third-quarter GDP remained unchanged at an annualized growth rate of 2.8%, indicating steady economic expansion. The labor market continued to show strength, with weekly jobless claims decreasing to 213,000 for the week ending November 23, down from 215,000 the previous week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Sentiment_and_Federal_Reserve_Outlook\"><\/span>Market Sentiment and Federal Reserve Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The latest economic data has influenced market expectations regarding the Federal Reserve&#8217;s monetary policy. Traders now see a roughly 34% probability that the Fed will maintain current interest rates at its upcoming meeting, up from about 24% a month ago, according to the CME FedWatch Tool.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_News_and_Trade_Policy\"><\/span>Corporate News and Trade Policy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a significant development for international trade, President-elect Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> appointed Jamieson Greer as the U.S. Trade Representative. Greer&#8217;s involvement in <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s previous China tariffs has Wall Street analysts speculating about potential new tariffs on major U.S. trading partners.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Key_Events_and_Market_Drivers\"><\/span>Looking Ahead: Key Events and Market Drivers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we approach the Thanksgiving holiday, market participants are keeping a close eye on several factors that could influence trading in the coming days:<\/p>\n<p>1. <b>Inflation data:<\/b> Further analysis of the PCE index and its implications for Fed policy.<br \/>2. <b>Holiday shopping season:<\/b> Early indicators of consumer spending trends during Black Friday and Cyber Monday.<br \/>3. <b>Trade policy developments:<\/b> Potential announcements regarding new tariffs or trade negotiations.<br \/>4. <b>Tech sector performance:<\/b> Continued monitoring of the &#8220;Magnificent Seven&#8221; stocks and their impact on broader market indices.<br \/>5. <b>Economic indicators:<\/b> Upcoming reports on consumer confidence, housing market data, and manufacturing activity.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market navigates through mixed signals from economic data and corporate earnings, investors remain cautious. The tension between robust economic growth and persistent inflationary pressures continues to shape market dynamics. With the holiday-shortened trading week ahead, market participants will be closely watching for any developments that could set the tone for the final month of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Performance On Wednesday, November 27, 2024, the U.S. stock market experienced a mixed session, with major indexes showing [&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":[33,248,252,633,3749],"class_list":["post-48469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-msft","tag-dell","tag-hpq","tag-nvda","tag-pce"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48469","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=48469"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48469\/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=48469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}