Home Finance News Live Updates on Today’s Stock Market Performance, 13 Words or Less.

Live Updates on Today’s Stock Market Performance, 13 Words or Less.

Live Updates on Today’s Stock Market Performance, 13 Words or Less.

In today’s session, the major stock market indices closed higher, with the Dow Jones Industrial Average gaining 43.04 points, or 0.13%, the S&P 500 rising 0.4%, and the Nasdaq Composite increasing by 0.45%. This marked the end of a four-day losing streak for all three indices. However, Jefferies warns that Urban Outfitters and Foot Locker may be at risk if there is a slowdown in consumer spending. Analyst Corey Tarlowe downgraded both stocks to hold from buy after a recent survey indicated that US consumers are likely to reduce spending, particularly in the apparel and footwear sectors. Jefferies believes that the resumption of student loan repayments could be a catalyst for further weakness in sales. 

Market technician Jonathan Krinsky of BTIG points out that several technical indicators have been met, which historically indicate challenging times ahead for the market. He refers to these indicators as setting an “ominous precedent.” Meanwhile, Schwab Asset Management has announced a cut in the expense ratio for two of its income funds, aligning them with the rest of its fixed income lineup. Moody’s Investors Service has warned that a US government shutdown would be a “credit negative” event, demonstrating the constraints caused by political polarization on fiscal policymaking. Canaccord Genuity chief market strategist Tony Dwyer suggests that investors should take advantage of the market weakness and be prepared to buy back into it when bad news becomes bad news. Semi conductor stocks have been performing well, presenting an opportunity for investors. Founder of Fairlead Strategies, Katie Stockton, believes that the current market drawdown could culminate in a good opportunity to add exposure to semiconductor stocks. Chip stocks also outperformed in today’s session after lagging earlier this month.

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