Mixed Market Performance, Alibaba Plunges Over 10%, Nike Rises Nearly 5%
Market Watcher02-25
On February 24, 2025, the U.S. stock market closed with mixed results. The Dow Jones Industrial Average edged up 0.08%, while the NASDAQ fell 1.21% and the S&P 500 declined 0.49%.
In sector performance, the sportswear sector saw significant gains with Nike rising 4.94% after Jefferies upgraded the stock to buy from hold, citing strong growth prospects and a strategic turnaround under CEO John Donahoe. The insurance sector also performed well, with Travelers up 3.42%. Conversely, the semiconductor sector experienced notable declines, with NVIDIA down 3.09% amid legal challenges and market concerns.
Apple rose 0.66% as UBS upgraded Janus Henderson to buy from neutral, highlighting the asset manager's growth potential. NVIDIA dropped 3.09% due to a lawsuit against EU antitrust regulators and market anticipation of its upcoming earnings report. Microsoft fell 1.03% after announcing advancements in quantum computing. Tesla Motors declined 2.15% amid concerns over its full self-driving program and market competition. Broadcom saw a significant drop of 4.91%. Berkshire Hathaway surged 4.23% to a record high following strong Q4 earnings. Alibaba plummeted 10.23% as the NASDAQ Golden Dragon China Index fell, impacting several Chinese stocks. Palantir Technologies Inc. tumbled 10.53% without specific news. Nike gained 4.94% on positive analyst upgrades and strategic initiatives.Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.