Hourly Market Review - Mar 22, 2024 16 PM
AInvestFriday, Mar 22, 2024 4:23 pm ET
1min read
FDX --
NVDA --

Dow Jones Industrial Average and Market Overview:

  • The Dow Jones Industrial Average slipped by 0.77% to close at 39,475.90, but it had its best week of the year with a nearly 2% increase.

  • The S&P 500 slightly declined by 0.14% to 5,234.18, while the Nasdaq Composite rose by 0.16% to 16,428.82, marking another record close.

  • The market optimism is attributed to the recent Federal Reserve meeting, where rates were left unchanged and Chair Jerome Powell hinted at future rate cuts.

  • Notable stock movements included FedEx rising over 7% after beating earnings estimates, while Nike and Lululemon experienced declines due to disappointing guidance and slowing sales.

Semiconductor Index Performance:

  • The VanEck Semiconductor ETF is on track for its best quarterly performance since 2001, with a 30% increase since the start of the year.

  • Nvidia, a leading performer, is up 90% this quarter and is headed for its best quarterly performance since 2001.

  • Other notable gainers in the semiconductor sector include Taiwan Semiconductor, Broadcom, Advanced Micro Devices, and Applied Materials.


Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.