Is The Market's Poor Start To 2024 A Sign Of Things To Come For Rest Of The Year? Here's What History Says
Portfolio Pulse from Aaron Bry
The Nasdaq Composite's drop of over 1% on the first two trading days of 2024, a first since 2005, raises concerns about the market's outlook for the rest of the year. Mega-cap tech stocks, including Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla, have experienced sell-offs after gains in 2023. Historical data shows mixed results for years starting with similar declines, with the Nasdaq ending higher in both 1980 and 2005. Apple, Microsoft, and Nvidia have seen notable declines since the year's start. However, January's performance is not necessarily indicative of the full year, and mild pullbacks are common throughout the year.
January 04, 2024 | 8:15 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Apple Inc. has seen its stock price decline nearly 3% since the beginning of 2024, following a broader sell-off in the tech sector.
Apple's early decline is significant and aligns with the broader market trend, which may cause concern among investors and potentially lead to a short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Microsoft Corp has stumbled at the start of 2024, in line with the sell-off in other mega-cap tech stocks.
Microsoft's early-year performance is part of a larger pattern affecting tech stocks, which could lead to a short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
NVIDIA Corp has experienced a decline since the beginning of the year, alongside other tech giants.
NVIDIA's stock price drop is part of the broader tech sector sell-off, suggesting a potential short-term negative impact on its stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90