Stock Market Today, March 24: Nokia Rises on 5G Momentum and North American Telecom Spending

Nokia (NOK +2.36%), a mobile, fixed, and cloud network solutions provider, closed Tuesday at $8.25, up 2.36%. The stock moved as investors reacted to [Overnight] pressure in Helsinki trading, while watching 5G momentum and North American telecom spending trends next.

The company’s trading volume reached 50.5 million shares, coming in nearly 20% above compared with its three-month average of 42.1 million shares. Nokia IPO’d in 1994 and has grown 525% since going public.

How the markets moved today

S&P 500 (^GSPC 0.37%) slipped 0.36% to 6,557, while the Nasdaq Composite (^IXIC 0.84%) fell 0.84% to 21,761.89. Within telecommunications equipment, industry peers Telefonaktiebolaget Lm Ericsson (publ) (ERIC +1.24%) closed at $11.46 (+1.24%) and Cisco Systems (CSCO +2.55%) finished at $80.86 (+2.59%).

What this means for investors

Nokia moved higher after earlier weakness in Helsinki trading, with gains supported by improving sentiment across telecom equipment peers following positive signals from competitors. The move reflects how expectations around 5G infrastructure demand and carrier spending continue to shape performance across the sector.

The company’s recent annual report outlined a strategy focused on AI-driven network infrastructure, which investors are using as a framework to assess its longer-term positioning. Investors will be watching whether telecom spending trends, especially in North America, will support more consistent growth and progress against these plans.

Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cisco Systems. The Motley Fool has a disclosure policy.