MARKET WRAP

The Dow and S&P 500 closed at another record high today, despite consumer confidence plummeting the most in three years.

The S&P was up 0.25%, marking its 41st all-time high this year. The Nasdaq, which is still 3% off its July high, was up 0.56%. The Dow was up 83 points and Russell 2000 jumped 0.24%.

Materials and Technology were the top sectors, while financials and utilities lagged.

MRKT MATRIX: September 24, 2024

Today’s Top Stories:

• S&P 500 shakes off economic worries, rises to new high led by Nvidia (CNBC)

• September consumer confidence falls the most in three years (CNBC)

• China Tries to Jolt Ailing Economy (WSJ)

• Visa Sued Over US Antitrust Violations in Debit Card Markets (Bloomberg)

• Nvidia shares pop as CEO may be done selling shares after hitting preset plan limit (CNBC)

• Don’t Count on a Megadeal to Save Intel (WSJ)

• Microsoft CEO to Cyber Team: Don’t Tell Me How Great Everything Is (Bloomberg)

• ‘Stop ripping us off’: Novo Nordisk CEO defends weight loss drug pricing during Senate grilling (CNBC)

• Will A.I. Be a Bust? A Wall Street Skeptic Rings the Alarm. (NY Times)

Today’s MRKT Call is Presented by CME Group

Chart Check on Stocks At Record Highs

Dan Nathan, Guy Adami and Carter Worth break down the top market headlines and bring you stock market trade ideas for Tuesday, September 24th.

Click here to access all of the charts mentioned in today’s MRKT Call.

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