Losses For Nasdaq and S&P 500
London, 4 September 2024
The major averages suffered their worst day since early August on Tuesday, and on Wednesday the S&P 500 fell 0.3%, the Nasdaq lost 0.8%, and the Dow Jones oscillated about the flat line.
As the ISM Manufacturing PMI indicated that factory activity had declined for the fifth consecutive month and was worse than anticipated, worries regarding the state of the US economy once again surfaced.
Now, with the JOLTS report arriving today and the payrolls data due on Friday, traders will be closely watching.
Utilities performed better than the IT sector, which was still under severe pressure. Nvidia's stock continued to decline, losing almost 2%, following a 9.5% decline on Tuesday.
Big businesses like Amazon (-1.3%), Apple (-1%), Microsoft (-1%), and Meta (-0.5%) were all losing money. Conversely, Alphabet recovered to increase by roughly 0.9%.
Stats
Trading on a contract for difference (CFD) that tracks this benchmark index from the United States indicates that the main stock market index in the country (US500) has risen 752 points, or 15.77%, since the start of 2024. In July of 2024, the United States Stock Market Index achieved its highest point ever recorded in history, which was 5672.45. The statistics, projections, and historical chart for the United States Stock Market Index were last updated on September 4, 2024.
Forecast
Trading on a contract for difference (CFD) that tracks this benchmark index from the United States indicates that the main stock market index in the country (US500) has risen 752 points, or 15.77%, since the start of 2024. The global macro models and analysts at Trading Economics predict that by the conclusion of this quarter, the US S&P Index will trade at 5611.12 points. In the future, we predict that it will trade at 5500.97 in a year. (Source: Trading Economics)
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