Here is a comprehensive 1000+ word report on the top stock market news, stocks to watch, and expected market movement for today, June 24, 2024:

Daily Stock Market Report: June 24, 2024

Top Stock Market News

Nvidia Delays China Launch of AI Chip Tailored to US Curbs

Nvidia Corp. has delayed the launch of its cutting-edge AI chip in China, designed to comply with U.S. export controls, as the company seeks a license from regulators. The move highlights the ongoing tensions between the U.S. and China over advanced technologies, particularly in the field of artificial intelligence. Investors will be closely watching the impact of this development on Nvidia's operations and financials.

European Stocks Waver as Economic Picture Darkens

European stock markets opened mixed on Friday, as investors grappled with growing concerns over the region's economic outlook. The latest batch of economic data painted a gloomy picture, with manufacturing and services activity contracting in several major economies. The ongoing Russia-Ukraine conflict, tightening monetary policies, and inflationary pressures continue to weigh on the Eurozone's growth prospects.

Treasuries Yields Rise After Slide in Europe Bonds

U.S. Treasury yields climbed on Friday, reversing course from the previous session's decline, as traders evaluated the potential impact of the Federal Reserve's interest rate decisions on the economy. The yield on the 10-year Treasury note rose to 3.78%, while the 2-year yield increased to 4.72%. This move came after European bond yields fell, reflecting concerns over the region's economic outlook.

Coinbase Stock Rallies, Virgin Galactic Slides

Coinbase Global Inc.'s stock rallied on Friday, as the cryptocurrency exchange reported stronger-than-expected earnings and user growth. On the other hand, Virgin Galactic Holdings Inc.'s shares plunged after the company delayed its commercial space tourism service launch until the second quarter of 2025.

Top Stocks to Watch

1. Foot Locker, Inc. (FL)

Foot Locker, a leading athletic footwear and apparel retailer, is among the top stocks to watch today. The company's stock has been downgraded by analysts due to concerns over its missteps in inventory management and pricing strategies. Investors will be keeping a close eye on Foot Locker's performance and potential turnaround efforts.

2. Nvidia Corporation (NVDA)

Nvidia, a prominent player in the semiconductor and AI industry, is a stock to watch closely today. The company's decision to delay the launch of its AI chip in China has sparked investor concerns over potential regulatory hurdles and their impact on Nvidia's growth prospects.

3. Johnson Controls International plc (JCI)

Johnson Controls International, a leading provider of building technology and services, is another stock to monitor today. Analysts have raised concerns about the potential impact of a consumer spending slowdown on retailers, which could affect Johnson Controls' business operations.

4. Walmart Inc. (WMT)

Walmart, the retail giant, is making headlines with its unveiling of a major change ahead of Black Friday. The company's strategy and potential implications for the upcoming holiday shopping season have put it on investors' radars.

5. Bruker Corp. (BRKR)

Bruker Corp., a leading manufacturer of scientific instruments, is among the stocks to watch today. The company's stock has been lagging, and investors will be closely monitoring its performance and potential catalysts for growth.

Stock Market Expected Movement

Based on the latest economic data and market sentiment, analysts anticipate a mixed opening for U.S. stock markets on Monday, June 24, 2024. The S&P 500 and Nasdaq futures are indicating a slightly lower start, while the Dow Jones Industrial Average futures are pointing to a modest gain.

The ongoing concerns over economic growth, particularly in Europe, and the lingering uncertainty surrounding the U.S.-China trade tensions are expected to weigh on investor sentiment. However, positive corporate earnings reports and the anticipation of potential interest rate cuts by the Federal Reserve could provide support to the markets.

Investors are advised to exercise caution and closely monitor economic indicators, geopolitical developments, and company-specific news to make informed investment decisions.

It is important to note that the stock market is subject to fluctuations and unforeseen events, and investors should always conduct thorough research and consult with financial advisors before making any investment decisions.