US close: Markets mixed again as uncertainty hits sentiment

25th Oct 2024 18:53

(Sharecast News) - US stock markets finished mixed on Friday as investors refrained from taking on too much risk ahead of some crucial market-moving events over the coming weeks, though more gains from Tesla propelled the Nasdaq higher.

The Dow slipped for the fifth straight day with a fall of 0.6%, marking it down 2.5% over the week, while the S&P 500 finished flat. However, the Nasdaq gained 0.6%, edging closer to its record levels reached in mid-July.

Despite the mixed performance across the three main indices, the recent rally this year might not be over just yet, said Trade Nation analyst David Morrison.

"Next week sees five of the 'Magnificent Seven' report earnings with Apple, Microsoft, Meta, Apple and Amazon all on tap, rounded off with non-farms at the end of next week. This could prove a big test for the markets while also being a driver of sentiment as we head towards year-end," Morrison said.

Meanwhile, ongoing uncertainty surrounding the US elections in November is preventing investors from building on positions, though analysts say that markets are starting to price in a Trump victory.

"The USD and US yields have continued to move higher over the past week as market participants price in a higher probability of a Trump win and Red Sweep outcome from the US election," said MUFG in its weekly round-up on Friday.

On the macro front, durable goods orders decreased by 0.8% to $284.8bn in September, according to the Census Bureau, matching the previous month's revised drop.

The University of Michigan's consumer sentiment index was upwardly revised to 70.5 in October from a preliminary reading of 68.9, marking a third straight monthly increase and the highest level seen since April.

Market movers

Tesla continued to rise following a 20% surge the previous day after impressing with its quarterly sales and growth outlook for 2025. Others in the Magnificent Seven, such as Apple, Microsoft and Amazon.com, also finisher higher.

Household goods giant Colgate-Palmolive dropped despite a stronger-than-expected set of second-quarter figures. The company beat forecasts on both the top and bottom line, but analysts linked the negative reaction to a decline in margins.

McDonald's was a heavy faller again, dropping nearly 3% following reports on Wednesday that its Quarter Pounders were linked to a fatal E.coli outbreak in the US. The fast-food chain, along with others like Burger King, Taco Bell and KFC, on Friday removed fresh onions - thought to be the cause of the outbreak - from their menus.

Shares in Michael Kors owner Capri dropped by 49% after the Federal Trade Commission blocked its proposed acquisition by Coach parent Tapestry.

Dow Jones - Risers

Intel Corp. (INTC) $22.68 1.52%

Salesforce.Com Inc. (CRM) $290.46 1.29%

Microsoft Corp. (MSFT) $428.15 0.81%

Unitedhealth Group Inc. (UNH) $564.56 0.67%

Amgen Inc. (AMGN) $316.98 0.41%

Apple Inc. (AAPL) $231.41 0.36%

Chevron Corp. (CVX) $150.81 0.24%

Dowdupont Inc. (DWDP) $0.00 0.00%

Boeing Co. (BA) $155.01 -0.12%

Nike Inc. (NKE) $78.85 -0.24%

Dow Jones - Fallers

McDonald's Corp. (MCD) $292.61 -2.97%

Dow Chemical Co. (DOW) $49.70 -2.53%

Travelers Company Inc. (TRV) $250.58 -2.31%

Goldman Sachs Group Inc. (GS) $512.80 -2.27%

Merck & Co. Inc. (MRK) $103.98 -1.79%

Johnson & Johnson (JNJ) $160.88 -1.70%

International Business Machines Corporation (CDI) (IBM) $214.67 -1.70%

3M Co. (MMM) $124.75 -1.36%

JP Morgan Chase & Co. (JPM) $222.31 -1.19%

Verizon Communications Inc. (VZ) $41.38 -1.15%

S&P 500 - Risers

Tapestry Inc. (TPR) $50.49 13.54%

Digital Realty Trust (DLR) $180.83 9.62%

Resmed Inc. (RMD) $255.92 7.12%

Capital One Financial Corp. (COF) $161.31 5.23%

Aon plc (AON) $375.44 5.21%

Western Digital Corp. (WDC) $69.45 4.72%

Centene Corp. (CNC) $64.37 4.22%

Discover Financial Services (DFS) $148.89 4.04%

Foot Locker Inc. (FL) $24.08 3.83%

L3Harris Technologies Inc. (LHX) $252.66 3.54%

S&P 500 - Fallers

Mohawk Inds Inc. (MHK) $130.88 -13.82%

Universal Health Services Inc. (UHS) $202.74 -9.75%

Hartford Financial Services Group Inc. (HIG) $112.39 -6.81%

Principal Financial Group Inc (PFG) $83.71 -6.63%

Whirlpool Corp. (WHR) $104.19 -5.73%

DENTSPLY Sirona Inc. (XRAY) $23.31 -4.51%

Colgate-Palmolive Co. (CL) $95.59 -4.14%

Globe Life Inc. (GL) $105.20 -3.88%

Realty Income Corp. (O) $61.31 -3.16%

Healthpeak Properties, Inc (DOC) $22.33 -3.09%

Nasdaq 100 - Risers

Western Digital Corp. (WDC) $69.45 4.72%

Tesla Inc (TSLA) $269.19 3.34%

American Airlines Group (AAL) $13.15 2.90%

Cadence Design Systems Inc. (CDNS) $257.30 2.40%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $373.30 1.67%

Alphabet Inc. Class A (GOOGL) $165.27 1.57%

Intel Corp. (INTC) $22.68 1.52%

Applied Materials Inc. (AMAT) $186.52 1.51%

Alphabet Inc. Class C (GOOG) $166.99 1.50%

Lam Research Corp. (LRCX) $77.68 1.45%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.54 -4.56%

DENTSPLY Sirona Inc. (XRAY) $23.31 -4.51%

T-Mobile Us, Inc. (TMUS) $226.36 -3.08%

Fiserv Inc. (FI) $199.51 -1.85%

Expedia Group Inc. (EXPE) $158.40 -1.28%

Henry Schein Inc. (HSIC) $70.02 -1.21%

Biogen Inc (BIIB) $181.69 -1.18%

Mondelez International Inc. (MDLZ) $69.23 -1.03%

Paychex Inc. (PAYX) $140.33 -0.95%

Biomarin Pharmaceutical Inc. (BMRN) $69.73 -0.94%