Major US Stock Indexes: Performance on 10/17/2024

On Thursday, October 17, 2024, the major US stock indexes experienced mixed performance, with the S&P 500 and Nasdaq reaching record highs while the Dow Jones declined. The S&P 500 gained 0.3%, setting another record high following Friday's milestone, while the Nasdaq rose by 0.6%. The Dow Jones, however, saw a decline of nearly 140 points after reaching an all-time high.

The S&P 500's performance was driven by several sectors, with technology being the top performer. Energy, on the other hand, underperformed. Megacaps such as Apple, Microsoft, Nvidia, Meta, and Alphabet contributed to the index's gains, while Boeing lost about 3.3% after Citi cut its price target on the stock.


The Dow Jones' decline was influenced by a combination of sectors and megacaps. While specific details are not provided, it is likely that the decline was due to a mix of factors, including individual stock performance and broader market sentiment.


The Dow Jones' decline did not significantly impact the overall performance of the S&P 500 and Nasdaq. Both indexes continued their upward trend, driven by strong earnings reports and positive market sentiment. The earnings season entered full swing this week, with several companies reporting quarterly results, including UnitedHealth, J&J, Bank Of America, Goldman Sachs, and others.

In conclusion, the major US stock indexes experienced mixed performance on October 17, 2024. The S&P 500 and Nasdaq reached record highs, while the Dow Jones declined. The S&P 500's performance was driven by the technology sector and megacaps, while the Dow Jones' decline was influenced by a mix of factors. Despite the Dow Jones' decline, the overall market sentiment remained positive, with the S&P 500 and Nasdaq continuing their upward trend.