"Dow Jones Today: Stock Futures Indicate Lower Start as Treasury Yields and Gold Prices Climb"

Market Overview: Major Indexes Tumble

Source: Investopedia

Current Market Performance

• Key U.S. indices closed sharply lower on October 23, 2024:
  • Dow Jones Industrial Average: down 1%
  • S&P 500: down 0.9%
  • Nasdaq Composite: down 1.6%
• All three indexes on track for weekly losses for the first time in seven weeks.

Technology Sector Struggles

• Large-cap tech stocks faced significant declines:
  • Nvidia (NVDA): down 2.8%
  • Meta Platforms (META): down 3.2%
  • Apple (AAPL): down 2.2%
  • Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Broadcom (AVGO) also reported losses.

Investors React to Earnings Reports

• McDonald's (MCD) shares fell 5.1% over an E. coli investigation.
• AT&T (T) shares rose 4.6% after better-than-expected earnings.
• GE Vernova (GEV) shares gained 1.3% despite a surprise loss.

Treasury Yields and Economic Indicators

Rising Treasury Yields

• The yield on 10-year Treasurys rose to 4.25%, marking a three-month high.
• This trend is driven by uncertainty regarding the Federal Reserve's approach to interest rate adjustments.

Real Estate Market Data

• Existing home sales hit a 14-year low, reflecting the impact of high mortgage rates.
• Current mortgage rates are at their highest level since July 2024.

Looking Ahead: Futures and Predictions

Futures Market Indications

• Market futures indicate a lower opening across major indexes:
  • Dow Jones futures: down 0.5%
  • S&P 500 futures: down 0.2%
  • Nasdaq futures: down 0.3%

Gold Market Trends

• Gold futures declined by 1%, trading around $2,730 per ounce after reaching a new all-time high.