Wall Street begins 2024 with a decline – E24

Wall Street begins 2024 with a decline – E24

The stock market in the United States of America has been moving the year downwards since the beginning. The Nasdaq is starting the year with a decline.

Published:

The status is updated throughout the trading day.

This is what the standard indicators look like half an hour after opening:

  • The broad S&P 500 index fell 0.71%.
  • The Dow Jones index fell by 0.10 percent
  • The Nasdaq Composite Index fell by 1.52%.

Apple dragged the Nasdaq technology index lower with a 2.37 percent decline in the opening minutes. This happens after Barclays downgraded the company to underweight, he writes CNBC.

“It's not unusual for markets to take a break to absorb an upward trend of the magnitude we saw in the fourth quarter,” John Stoltzfus, chief strategist at Oppenheimer Asset Management, tells Bloomberg.

Tesla has been dethroned from the electric car throne

Electric car maker Tesla delivered 484,000 vehicles in the fourth quarter, according to A press release. It was barely higher than the estimate of 483,000 cars.

Thus, Elon Musk's company will step down from the throne of electric cars after the Chinese company BYD announced that it sold a record number of 526 thousand cars in the last quarter of the year.

Over the full year, Tesla increased the number of vehicle deliveries by 38 percent in 2023, bringing their total to 1.85 million.

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Tesla shares fell by 1.31 percent since the beginning.

Strong rise in 2023

US stock markets ended 2023 on a cautious decline. However, there was an overall strong rise during the year.

Obviously, it was the Nasdaq index that rose by 43.42%. The broad S&P 500 index trailed behind, at 24.23 percent. The Dow Jones index rose 13.7 percent.

All leading indicators achieved their ninth week of gains. For the S&P 500, this marked the longest weekly winning streak since 2004. CNBC.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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