Stock Market Today: Stocks Struggle After Big Fed Gains

Market Overview - Stocks showed mixed performance with the Dow Jones Industrial Average down 0.03% to 41,953, the S&P 500 down 0.2% to 5,662, and the Nasdaq Composite down 0.3% to 17,691 after a previous rally fueled by positive economic data and the Federal Reserve's actions [2][1]. Housing Market - Existing home sales increased by 4.2% month over month in February to a seasonally adjusted rate of 4.26 million, although year-over-year sales were down 1.2% [3][4]. - The median existing-home sales price rose by 3.8% year-over-year to $398,400, indicating a rebound ahead of the spring selling season, despite high mortgage rates and elevated home prices [4][5]. Tesla - Tesla's stock experienced volatility, ending with a slight gain of 0.2% after a recall of over 46,000 Cybertrucks due to potential risks [6]. - Analyst Dan Ives expressed concerns about Tesla's future growth, highlighting that CEO Elon Musk's focus on DOGE could harm the company's brand and stock performance if not addressed [7][8]. - Tesla shares are down 42% year-to-date, with a recommendation from Commerce Secretary Howard Lutnick to buy, stating it may never be this cheap again, despite trading at 115.6 times earnings, above its five-year average of 96.3 [9]. JPMorgan - JPMorgan is being compared to Nvidia in the banking sector, with Wells Fargo analyst Mike Mayo stating that its significant investment in technology positions it favorably [10][11]. - JPMorgan's tech budget for 2025 is projected at $18 billion, which is more than all other banks, indicating a strong strategy for market share gains [11].