Sellers Hit Nasdaq After Micron Warning; Jabil, ADM. WW Grainger In Focus | Stock Market Today

TL;DR

The market closed lower as it digested the negative news from Target and Micron, with the NASDAQ down 1.5% and the S&P 500 down 0.8%. Three stocks to watch are JBL, ADM, and GWW.

Transcript

foreign good afternoon everyone and welcome to stock market today it's Ali Corman Ed Carson here actually it's not it's Ken Shreve here sorry about that Ken wow it's Ali Coram and Ken Shreve here with a breakdown of the action in today's session I think it's the first time I've ever done that anyway uh I guess the market has me all frazzled uh beca... Read More

Key Insights

• 🥳 The market reacted negatively to warnings from Target and Micron, leading to a down day.
• 🤩 The NASDAQ held above key support levels, suggesting potential resilience in the market.
• 👀 JBL, ADM, and GWW are three stocks to watch, each with their own positive technical setups.
• 🍂 Falling bond yields and a weakening dollar may be positive for the market rally.
• 🫥 The sideways movement of the S&P 500 and the struggle of the Russell 2000 at its 200-day line are worth watching.
• 📈 The market's reaction to earnings reports from Cisco, Anet, and Nvidia may indicate sector trends.

Questions & Answers

Q: Why did the market close lower?

The market closed lower due to negative news from Target and Micron, signaling a weak consumer and a potentially slow holiday season.

Q: What are the three stocks to watch?

The three stocks to watch are JBL, a contract manufacturer, ADM, a food stock, and GWW, a distributor of maintenance and repair products.

Q: Did the NASDAQ experience significant technical damage?

The NASDAQ held above key support levels, indicating that there may not be much technical damage to the market.

Q: How did the major indexes perform?

The NASDAQ was down 1.5%, the S&P 500 was down 0.8%, and the Dow closed slightly negative. The Russell 2000, which represents small caps, was down 1.8%.

Summary & Key Takeaways

• The market closed lower as it reacted to warnings from Target and Micron, indicating a weak consumer and a soft holiday season.

• Three stocks to watch are JBL, a contract manufacturer, ADM, a food stock, and GWW, a distributor of maintenance and repair products.

• The NASDAQ held above key support levels, suggesting that there may not be much technical damage to the market.