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DJIA Dow Jones Industrial Average Advanced Charts

The S&P 500 stabilized Friday after hitting another record as investors wrapped the week on a high note. Where p are the prices of the component stocks and d is the Dow Divisor. The inclusion of a company in the Dow Jones Industrial Average does not depend on defined criteria. Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded. There are no fixed times for reviewing the composition of the index, since changes are only made by the commission as and when they are needed. “This big rising tide of seven names lifting all boats in the stock market is what I see ending. I don’t see these seven names rising together.”

  1. Marvell Technology, Broadcom and Advanced Micro Devices are up more than 4% each, while Cadence Design Systems has jumped about 6%.
  2. The Nasdaq Composite and concentrated Nasdaq-100 are poised to cap off the week with gains exceeding 2% thanks to a strong rally in semiconductor stocks after another blowout report from Nvidia.
  3. Discovery reported a loss of 16 cents per share on revenue of $10.28 billion.
  4. Check out some of the companies making headlines in extended trading.
  5. Instead, an independent Wall Street Journal commission decides whether a share is to be included or excluded.

Nvidia surpassed a $2 trillion market capitalization for the first time ever during intraday trading Friday as the chipmaker’s earnings-fueled rally stretched into a second trading session. In early 1981, the index broke above 1,000 several times, but then retreated. After closing above 2,000 in January 1987,[42] the largest one-day percentage drop occurred on Black Monday, October 19, 1987, when the average fell 22.61%. There were no clear reasons given to explain the crash. Wall Street is coming off a monster day as Nvidia shares roared on strong quarterly results, leading the chipmaker to briefly surpass a $2 trillion valuation.

This performance marks a return to green for the Dow after finishing last week down 0.1%. Johnson & Johnson, Walmart and Coca-Cola led the 30-stock index higher, with each adding more than 3% this week. In all, about four out of every five Dow members are on track to finish the week up. “CVNA shorts are now down -$591.8 million in 2024 year-to-date mark-to-market losses, -37.2%,” the note said. Hormel Foods, Kraft Heinz and Conagra Brands are all up more than 4% and are leading the sector’s gains. On the corporate earnings front, Block surged 16.1% after fourth-quarter revenue surpassed Wall Street estimates.

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And James Angel, a finance professor at Georgetown, says household names like Alphabet have never made the Dow. China’s CSI 300 added 0.2%, set to rise for the ninth straight session if gains hold till the end of the trading day. The January data comes after the country’s troubled property market recorded its worst declines in new home prices in nearly nine years at the end of last year. Hong Kong-listed software rfp template shares of Standard Chartered rose 2.8% by afternoon trading after the company announced a $1 billion share repurchase program. The full-year outlook is now for three quarter-percentage point cuts, taking the benchmark fed funds rate down to 4.5%-4.75%, according to the CME Group’s FedWatch Tool, which measures futures pricing. The gauge is putting the chance of three cuts at right around 60%.

Nvidia’s 16% jump headlined Thursday’s market action, but the major averages saw sizeable gains across much of the board. Analyst Brandt Montour upgraded the sports betting stock to overweight from equal weight and increased his price target by $9 to $50. Montour’s new price target implies a 22.4% upside over Thursday’s close.

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“There will likely be pullbacks and volatility over the next few months and we are supportive of the buy the dip mentality when it comes to big tech,” he said. In fact, UBS Private Wealth Management’s Greg Marcus believes that investors should take advantage of market volatility to buy into big tech. JPMorgan Chase CEO Jamie Dimon sold about 800,000 shares of the bank on Thursday, generating about $150 million, according to a securities filing and VerityData. Sign up for the Marketplace newsletter to get the day’s biggest business stories, our economic analysis, and explainers to help you live smarter, straight to your inbox every weekday evening.

On September 15, 2008, a wider financial crisis became evident when Lehman Brothers filed for bankruptcy along with the economic effect of record high oil prices which had reached almost $150 per barrel two months earlier. The Dow had lost 20% of its value in only six weeks. From the US to Europe and Japan, equities hit all-time highs, with the most-valuable chipmaker up 16% — adding $277 billion to its market capitalization. That’s the biggest single-session increase in value ever — eclipsing a $197 billion gain made by Meta Platforms Inc.

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Carvana climbed 32.1% after the used car retailer said it expects retail units to grow in 2024. Trading is typically carried out in an open outcry auction, or over an electronic network such as CME’s Globex platform. The S&P 500, Nasdaq 100, and Dow Jones Industrial Average were all set to open lower on Monday as investors trimmed their bets after a bumper week. Your donation today powers the independent journalism that you rely on.

The company posted a loss of 16 cents per share on revenue of $10.28 billion. Discovery shares slid 0.7% in the premarket after the media conglomerate reported disappointing fourth-quarter results. UBS Global Wealth Management has lifted its end-of-year price target on the S&P 500 to 5,200 from 5,100 to reflect a more favorable environment despite recent mixed economic signals.

Marvell Technology, Broadcom and Advanced Micro Devices are up more than 4% each, while Cadence Design Systems has jumped about 6%. “After the [more than] 20% rally since the October low, some sentiment and positioning indicators are starting to become elevated, which could lead to a modest pullback in the coming months,” the team added. “We maintain a neutral preference for U.S. equities in our tactical asset allocation and highlight that there may be better opportunities to add to equity positions.” Still, the laggards somewhat capped gains for the blue-chip index. Most notably, Disney was the worst performing Dow stock this week with a slide of more than 4%. Boeing was the next biggest loser, slipping over 1.5%.

AI-adjacent big tech stocks have propelled the equity market to new highs, but there could still be more room ahead for gains. “Obviously, we haven’t seen quite the momentum as we have from technology stocks…I think that does pose some risks in terms of where the index goes ultimately, because clearly everything’s front-loaded into the technology shares,” he added. The global stock rally powered ahead as Nvidia Corp.’s bullish outlook rekindled the artificial-intelligence mania and data showed the world’s largest economy is still going strong. China has curbed short selling and quant trading activities to support its flailing stock markets, but the moves could dampen investor appetite. The original Dow had just 12 companies in industries like sugar, tobacco and leather. Since 1896, its components have changed 50-something times.

The Dow is on pace to end this week up about 1.5%, lifted by a group of rallying stocks. The tech sector is close behind consumer staples, and is up about 2.1% week to date. Besides being beneficiaries of the artificial intelligence theme, Marcus also pointed out that many big tech firms have strong balance sheets and earnings growth potential, characteristics that can weather a higher interest rate environment.

On Thursday, the S&P 500 had its best day since January 2023, while the Nasdaq Composite popped nearly 3% for its best session since February 2023. While tech was the leading sector with a 4.35% gain, industrials and health care each gained more than 1% and hit fresh record closes. Quanta Services was the big winner in industrials, rising more than 10%, while Moderna popped 13.5% to help lift health care.

DraftKings — The sports betting stock popped 4% following an upgrade to overweight from equal weight by Barclays. The firm said the stock was at an attractive entry point following a recent pullback. However, the wealth manager also underscored that the market rally is likely to broaden in 2024. Dimon still owns about 7.7 million shares of JPMorgan, according to VerityData.

nicvosDJIA Dow Jones Industrial Average Advanced Charts