--- title: "Stock Market Today: August 5, 2024" description: The U.S. stock market is set to move sharply lower at the opening bell this morning, after last week’s dismal performance. Investors, reacting to the soft July employment report, now seem to be worried that the economy is slowing and that the Federal Reserve is waiting too long to reduce interest rates. image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: August 5, 2024 August 5, 2024 The U.S. stock market is set to move sharply lower at the opening bell this morning, after last week’s dismal performance. Investors, reacting to the soft July employment report, now seem to be worried that the economy is slowing and that the Federal Reserve is waiting too long to reduce interest rates. In addition, a few large technology companies recently posted disappointing results, fueling fears that spending on AI (artificial intelligence) is becoming excessive and may not deliver returns. As we were publishing this report, the international markets were down considerably, and the S&P 500 Index futures were off roughly 150 points (down 2.80%) in pre-market trading. Few notable economic items are scheduled for this week. However, later this morning the ISM (Institute for Supply Management) Services Index will be published. This report, which measures the health of service-related industries, may warrant some attention. On Thursday, the latest weekly initial jobless claims will be released. Traders may closely follow this item, given renewed concerns about the nation’s labor market. In the corporate arena, the second-quarter earnings season continues to take shape. This week, we will hear from a number of widely-held companies, including [Wynn Resorts (WYNN)](https://research.valueline.com/research#sec=company&sym=WYNN), [The Walt Disney Co. (DIS)](https://research.valueline.com/research#sec=company&sym=DIS), and [Eli Lilly (LLY)](https://research.valueline.com/research#sec=company&sym=LLY). It should be noted that investors have not been kind to companies that fail to meet expectations. The fact that many stocks have been trading at elevated multiples may be playing a role in this regard. Technically, the stock market has started to display weakness. Last week’s selling pushed the broader S&P 500 Index decisively below its 50-day moving average (located at the 5,450 level). This development may be seen as a sign of softness by traders that follow various technical systems. From a sector perspective, the popular technology stocks have lost considerable ground lately and are no longer providing market leadership. Instead, investors, in anticipation of lower interest rates, have started to rotate capital into other equity sectors (utilities, healthcare, financials, etc.). However, it is not clear that the major averages can meaningfully advance without participation from the large technology stocks. Looking ahead, it remains to be seen if the current market pullback will develop into a larger correction. The CBOE Volatility Index (VIX), a measure of sentiment, is currently moving higher. Traders believe that elevated readings on the VIX show that sentiment is becoming overly bearish, and that a change in market direction might soon occur. – Adam Rosner *At the time of this article’s writing, the author had positions in Walt Disney (DIS).* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. [![Register now for our free One Stock to Buy webinar](https://no-cache.hubspot.com/cta/default/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5.png)](https://cta-redirect.hubspot.com/cta/redirect/2532383/5a80130b-f0ce-4bd8-acbd-f077f2232ec5) ### Popular Posts Search Search Blog ### Topics - [Investing 101 (2)](https://investor.valueline.com/blog/topic/investing-101) - [Market Commentary (37)](https://investor.valueline.com/blog/topic/market-commentary) - [Stock Highlights (390)](https://investor.valueline.com/blog/topic/stock-highlights) - [Stock Market Today (2071)](https://investor.valueline.com/blog/topic/stock-market-today) Copyright 2026 Value Line, Inc. All Rights Reserved. Factual material is obtained from sources believed to be reliable and is provided without warranties of any kind. VALUE LINE IS NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS HEREIN OR ANY DAMAGES OR LOSSES ARISING FROM ANY USE OF THE INFORMATION CONTAINED HEREIN. This blog is strictly for subscriber's own, non-commercial, internal use. No part of it may be reproduced, stored or transmitted in any printed, electronic or other form, or used for generating or marketing any printed or electronic publication, service or product. Officers, directors, or employees of Value Line, Inc. and its affiliates and subsidiaries, and EULAV Asset Management, may own stocks that are featured in this email. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. Value Line, the Value Line logo, The Most Trusted Name in Investment Research, “Smart research. Smarter investing.”, The Value Line Investment Survey, Timeliness, and Safety are trademarks or registered trademarks of Value Line, Inc. and/or its affiliates in the United States and other countries.