Stock Market Update
24-Jul-24 12:35 ET
V, LW stir growth worries
Dow -315.11
at 40042.78,
Nasdaq -207.56
at 17789.79,
S&P -95.58
at 5460.16
[BRIEFING.COM] The major indices are at or near session lows.
Worries about economic growth, which could translate to lower earnings growth, were piqued today when Visa (V 254.66, -10.13, -3.8%) talked of seeing a slowdown in spending by lower-income consumers and Lamb Weston (LW 57.63, -20.99, -26.7%) issued an FY25 earnings warning that was linked to a slowdown in global restaurant traffic.
Separately, semiconductor stocks are lagging the broader market. The PHLX Semiconductor Index trades 3.8% lower.
