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Today’s Stock Market: Dow Jones decreases due to sell-offs of Intel and AMD; Tesla shares decline following downgrade



On Monday, the Dow Jones Industrial Average and other major indexes experienced a decline due to China’s decision to block the use of chips from Intel and Advanced Micro Devices in government computers and servers. Additionally, Tesla stock initially dropped after an analyst downgrade but later recovered.

In the morning, the Dow Jones Industrial Average was down by 0.3%, while the S&P 500 and Nasdaq composite also recorded losses. Amid these developments, the Invesco QQQ Trust ETF and SPDR S&P 500 ETF saw declines as well. The 10-year Treasury yield remained relatively stable, and oil prices slightly increased.

China’s move to restrict Intel and AMD chips from its government systems resulted in a significant drop in the share prices of these companies. Intel shares fell over 4%, while AMD stock lost 2.5%. Conversely, Tesla shares rebounded after a slight decrease following an analyst’s downgrade.

Looking ahead, economic data releases in the coming week are expected to be limited. However, key reports, such as the Personal Consumption Expenditures price index and new home sales data, are set to be released. Earnings reports from companies like Jefferies Financial, Paychex, Carnival, and RH are also anticipated.

As for specific stocks to watch, Arista Networks, Duolingo, Dexcom, DraftKings, Disney, IBM, and Procter & Gamble are highlighted as potential opportunities in the stock market today. It’s crucial to stay informed about market trends and readjust strategies accordingly to navigate changing market conditions effectively.

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