MARKET WRAP

Stocks fell and volatility spiked today amid rising tensions in the middle east.

The S&P 500 was down 0.93%, the Nasdaq fell 1.53% and the Russell 2000 was down 1.49%.

Technology was the hardest hit sector, down more than 2%, while energy was the top performer up 2%.

MRKT MATRIX: October 1, 2024

Today’s Top Stories:

• S&P 500 falls, Nasdaq drops 1% as oil spikes on escalating Middle East tensions (CNBC)

• Oil, Gold Surge as Conflict in Mideast Escalates (Bloomberg)

• Port strike could reignite inflation, with larger economic impact dependent on how long it lasts (CNBC)

• Auto Sales Idling as Prices Remain High (WSJ)

• Apple falls as Barclays flags 'weak demand' for iPhone 16; Citi cuts estimates (Investing.com)

• Bank of America joins growing chorus on Wall Street loving this sector to play China’s stimulus (CNBC)

• How the pandemic made Americans richer (Axios)

Today’s MRKT Call is Presented by SoFi

Stocks Sink on Geopolitical Risk

Dan Nathan, Guy Adami and Carter Worth break down the top market headlines and bring you stock market trade ideas for Tuesday, October 1st.

Timecodes

• 0:00 - State of the Market

• 15:40 - Energy & XOM

• 22:10 - Banks, Gold & Bitcoin

• 29:14 - Apple & Tesla Concerns

• 28:40 - Nike

• 40:30 - Audience Q&A

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