U.S. stocks had a mixed close on Tuesday, October 22, 2024, as markets recovered from earlier losses. The S&P 500 slipped by less than 0.1%, marking its first back-to-back loss in six weeks, while the Dow Jones Industrial Average ended essentially flat. Meanwhile, the Nasdaq composite posted a modest gain, supported by strong performances from several Big Tech stocks like Microsoft.
In contrast, GE Aerospace shares tumbled due to weaker-than-expected revenue, partially offsetting the strong gains by General Motors, which saw its best day since 2020 after exceeding profit expectations.
Index Performances on Tuesday
- S&P 500: Fell 2.78 points (-0.1%) to 5,851.20.
- Dow Jones Industrial Average: Dropped 6.71 points (less than 0.1%) to 43,924.89.
- Nasdaq composite: Rose 33.12 points (+0.2%) to 18,573.13.
- Russell 2000: Fell 8.18 points (-0.4%) to 2,231.53.
Weekly Performance (So Far)
- S&P 500: Down 13.47 points (-0.2%).
- Dow Jones: Down 351.02 points (-0.8%).
- Nasdaq: Up 83.58 points (+0.5%).
- Russell 2000: Down 44.56 points (-2%).
Year-to-Date Performance
- S&P 500: Up 1,081.37 points (+22.7%).
- Dow Jones: Up 5,235.35 points (+13.9%).
- Nasdaq: Up 3,561.78 points (+23.7%).
- Russell 2000: Up 204.45 points (+10.1%).
Despite the mixed results for the day, the broader trend for U.S. stocks in 2024 remains positive, with major indexes like the S&P 500 and Nasdaq posting strong double-digit gains for the year. However, market participants are keeping an eye on economic data and corporate earnings, particularly in the tech and automotive sectors, which have seen significant stock movements recently.
