On October 29, 2024, the stock market of the United States experienced morning fluctuations:
The Dow Jones Industrial Average rose slightly, with limited gains; The Nasdaq rose slightly, while the S&P 500 index fell slightly.
Specific data: The Dow Jones Industrial Average fell 79.66 points, a decrease of 0.19%; The Nasdaq rose 8.47 points, an increase of 0.05%; The S&P 500 index fell 4.80 points, a decrease of 0.08%.
US Treasury yields continue to rise:
The yield of US 10-year treasury bond bonds rose 5.2 basis points to 4.33%.
High yields limit the gains of US stocks, and investors are cautious in their sentiment.
Preparation before the release of financial reports for important technology companies:
Investors are preparing for the release of financial reports from technology companies such as Alphabet (parent company of Google) and AMD.
The financial reporting season has entered its busiest phase, with several large technology companies announcing their results.
Economic data focus:
The goods trade deficit widened to 108.2 billion US dollars in September, exceeding economists' expectations.
Imports increased by 3.8%, exports decreased by 2%, and wholesale trade inventories decreased by 0.1%.
The impact of the US presidential election:
With only a week left until the election, the market is concerned about the prospect of Trump returning to the White House.
Trump is seen as a candidate supporting digital currencies, and the stock prices of cryptocurrency companies have risen.
Individual stock performance:
Ford Motor's stock price fell, and its annual performance guidance only reached the lower end of the previously set range.
VF Corp (parent company of North Face) saw a significant increase in stock price and better than expected performance.
Tesla extends 0% loan incentive measures until the end of November to help deliver targets.
Market analysis and forecasting:
Adam Crisafulli, founder of Vital Knowledge, pointed out that the resilience of economic growth, the decline of inflation rate, stimulus measures and healthy corporate profits are good factors, but the expensive pricing of stocks and the sharp rise in the yield of treasury bond constitute a headwind.
BlackRock CEO Larry Fink believes that the Federal Reserve will not cut interest rates as expected by the market because embedded inflation is too high.
Overall summary:
Against the backdrop of rising US bond yields, the US stock market showed a mixed trend in early trading. Investors are preparing for the release of financial reports from multiple important technology companies, while paying attention to economic data and market reactions to the US presidential election. The performance of individual stocks is differentiated, and market analysis and prediction present a diversified perspective.
