Market Trends
The U.S. stock market showed mixed results at the start of October. The Dow Jones increased by a mere 0.04%, closing at 42,330.15, while the S&P 500 and Nasdaq rose by 0.42% and 0.38%, respectively. This modest uptick in major indices comes amidst a backdrop of rising concerns about inflation, primarily driven by labor strikes affecting the shipping industry. The 45,000 port workers on strike could lead to significant supply shortages, further impacting market performance.
Additionally, Nike (NYSE: NKE) is projected to post its most considerable sales drop since the onset of the COVID-19 pandemic, prompting analysts to expect a target reset. This signals potential volatility in retail stocks.
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