$NVIDIA Corp(NVDA)$ $Amazon.com(AMZN)$
Hot US Stock Market News
Wall Street Drops as Nvidia Leads Tech Stock Decline šš
Kia ora Tiger traders!
Today's hot news from the US stock market is all about the recent declines driven by Nvidia leading the drop in tech stocks. Here's the scoop:
š Market Performance:
- Dow Jones Industrial Average (DJI): -0.3%, closing at 39,000.87, with several major stocks in the red.
- Nasdaq Composite:-1.5%, ending at 18,000.76, significantly impacted by tech stock declines.
- S&P 500:l -1.2%, closing at 5,500.19.
š Driving Factors:
- Nvidia (NVDA) shares fell 10% today, leading a broader sell-off in tech stocks. This decline was influenced by profit-taking and concerns over future earnings.
- Other major tech stocks like Amazon (AMZN) and Apple (AAPL) also saw declines, with Amazon dropping 2.5% and Apple falling 1%.
š Sector Highlights:
- The Technology, Communication Services, and Consumer Discretionary sectors were the hardest hit within the S&P 500, losing 2.0%, 1.7%, and 1.4% respectively.
āļø Volatility Index:
- The CBOE Volatility Index (VIX), often referred to as the "fear gauge," spiked by 3.5% to 15.00, indicating increased market uncertainty.
š¤© Fun Facts:
- Did you know? Nvidia's stock price has soared over 150% year-to-date before today's decline, making it one of the best-performing stocks in 2024.
- Historical Highs: Despite today's drop, the Nasdaq 100 has been positive for 16 consecutive Julys, with an average return of 4.64%.
- Tech Trends: With 7 out of 10 most valuable companies globally being tech firms, the sector continues to dominate market sentiment.
This bearish trend, coupled with concerns over future tech earnings, suggests that we could see continued volatility in the stock market in the coming weeks. Keep an eye on these developments and adjust your strategies accordingly!
Happy trading ahead! Cheers, BC š
For more details, check out the latest updates from [Nasdaq](https://www.nasdaq.com) and [Business Insider](https://markets.businessinsider.com).
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Comments
Here is the latest quote data for NVIDIA Corp (NVDA) and Amazon.com (AMZN):
NVIDIA Corp (NVDA):
Stock price: $117.99 (USD)
Yesterday's closing price: $126.36 (USD)
Quote change: -6.62%
Trading volume: 390.14 million
Market capitalization: $2,899.64 billion (USD)
Earnings per Share (EPS) TTM: $1.71
Price-to-Earnings (P/E) Ratio TTM: 68.915
Dividend yield: 0.01%
Analyst target price: The mean target estimate is $133.97, with a low estimate of $50.30 and a high estimate of $200.00.
Resistance price: $129.61 (USD)
Support price: $84.01 (USD)
52-Week High: $140.76 (USD)
52-Week Low: $39.23 (USD)
Analyst recommendation: 18 recommend, 36 buy, 5 hold
Amazon.com (AMZN):
Stock price: $187.93 (USD)
Yesterday's closing price: $193.02 (USD)
Quote change: -2.64%
Trading volume: 49.17 million
Market capitalization: $1,955.72 billion (USD)
Earnings per Share (EPS) TTM: $3.56
Price-to-Earnings (P/E) Ratio TTM: 52.738
Dividend yield: N/A
Analyst target price: The mean target estimate is $227.24, with a low estimate of $180.00 and a high estimate of $500.00.
Resistance price: $194.22 (USD)
Support price: $182.82 (USD)
52-Week High: $201.20 (USD)
52-Week Low: $118.35 (USD)
Analyst recommendation: 17 recommend, 43 buy, 1 hold
Please note that these quote data are for reference purposes only and may change over time. It's important to conduct thorough research and analysis before making any investment decisions.
If you have any more questions or need further information, feel free to ask.