How Major U.S. Stock Indexes Fared on October 30, 2024
U.S. stock indexes closed slightly lower on Wednesday, October 30, 2024, after giving up early gains. The dip followed a mixed set of corporate earnings reports, including from Alphabet, Google’s parent company, and pharmaceutical giant Eli Lilly.
The S&P 500 declined by 0.3%, dropping 19.25 points to finish at 5,813.67. The Dow Jones Industrial Average lost 0.2%, shedding 91.51 points to close at 42,141.54, while the Nasdaq composite fell by 0.6%, down 104.82 points to 18,607.93. The Russell 2000 index, which tracks smaller companies, slipped by 0.2%, ending at 2,233.04.
Alphabet shares rallied after it reported strong profits, joining other tech giants in the “Magnificent Seven.” However, Eli Lilly saw its stock decline due to concerns about two of its blockbuster drugs. Chip stocks also experienced a pullback following a profit report from Advanced Micro Devices (AMD). Meanwhile, Treasury yields rose, further impacting the market sentiment.
Week-to-Date Performance
- The S&P 500 is up 0.1%, gaining 5.55 points.
- The Dow is up 0.1%, rising by 27.14 points.
- The Nasdaq increased by 0.5%, adding 89.33 points.
- The Russell 2000 is up by 1.1%, gaining 25.04 points.
Year-to-Date Performance
- The S&P 500 has gained 21.9%, adding 1,043.84 points.
- The Dow has increased by 11.8%, up 4,452 points.
- The Nasdaq has surged by 24%, gaining 3,596.58 points.
- The Russell 2000 is up 10.2%, adding 205.96 points.
Despite the mixed results on Wednesday, U.S. markets have demonstrated strong year-to-date performance, with all major indexes showing solid gains, driven by a robust technology sector and ongoing market resilience.
Key Takeaways:
- U.S. stock indexes ended slightly lower on October 30 due to mixed earnings reports.
- Alphabet’s rally contrasted with Eli Lilly’s decline, while chip stocks faced pressure.
- Year-to-date performance remains strong across all major indexes, with tech leading gains.
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