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Wednesday’s big stock stories: What’s likely to move the market in the next trading session

Chaim Potok by Chaim Potok
October 16, 2024
in Investing
Wednesday’s big stock stories: What’s likely to move the market in the next trading session
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Traders work on the floor of the New York Stock Exchange during morning trading in New York City. 

Michael M. Santiago | Getty Images

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Here’s what CNBC TV’s producers were watching as the S&P 500 and Dow Jones Industrial Average retreated from recent highs, and what’s on the radar for the next session.

Apple

  • Despite concerns about the new iPhone, Apple hit a new all-time high on Tuesday.
  • The stock ended the session up more than 1%, closing at $233.85. It hit a high of $237.49 before curtailing its gains for the day.
  • Apple is up 5% in a month and 35% in six months.
Stock Chart IconStock chart icon

Apple shares over the past six months

DJT

  • Trading in Trump Media & Technology Group was wild on Tuesday.
  • The stock finished down nearly 10%. It is down nearly 4% after hours.
  • Check out the volume: 89 million shares. That is almost triple the ten-day average.
  • The stock is up 68% in October. 

Regional banks

  • The big banks are just about done reporting. Now, the regionals move in.
  • Citizens Financial, based in Providence, Rhode Island, reports before the bell. The stock has gained 12.5% in the past three months, and it’s up 5.5% in a week. The stock hit a new high on Tuesday.
  • First Horizon, headquartered in Memphis, Tennessee, will also report before the bell. First Horizon is down 1% over the past three months. The stock is up 8% in a week and 4.3% from the July high.
  • The SPDR S&P Regional Banking ETF (KRE) hit a new high on Tuesday. The ETF is up 6.7% in a week, and it has gained up 10.3% in three months.
  • Wells Fargo, by the way, is up 10% in a week. In a rare interview on “Mad Money” Tuesday night, CEO Charles Scharf, who’s been leading a buyback charge, said, “We invest in much as we can inside the company and that’s our first priority.”
  • Goldman Sachs is up 5.2% in week.
  • Citigroup is down 4.7% in two days.
  • JPMorgan Chase is up 5.5% in the past week.
  • Bank of America is up 5.5% in a week, as well.
  • Morgan Stanley is up 4.4% in a week. The bank reports on Wednesday morning before the bell, and CEO Ted Pick will be live on CNBC TV in the 10 a.m. hour, Eastern.
Stock Chart IconStock chart icon

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Wells Fargo shares in the past week 

The chips

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