Traders at the New York Stock Exchange ended Friday’s session with a focus on market dynamics following a high-impact presidential election. As of Monday night, stock futures remained largely unchanged, with investors evaluating potential investments amid a postelection surge that pushed equities to unprecedented heights. Futures linked to the Dow Jones Industrial Average fell by 37 points, or 0.1%, while S&P 500 and Nasdaq 100 futures also dipped by 0.1% each.
The current market upswing took off after Donald Trump clinched victory in last week’s presidential election. The Dow surged by over 300 points, closing at a landmark level above 44,000, while the S&P 500 ended slightly above 6,000 for the first time. The Nasdaq Composite also rose to an all-time closing high for the fourth consecutive day, and the Russell 2000, focused on small-cap stocks, jumped by 1.5%.
Notably, bitcoin broke records, soaring past $89,000 on Monday. According to Larry Tentarelli, founder of the Blue Chip Daily Trend Report, the market is reacting similarly to the period following Trump’s initial election win in 2016, with investors keenly focused on anticipated policy changes.
On Tuesday, attention will shift to economic data concerning small businesses, alongside insights from Federal Reserve officials including Fed Governor Christopher Waller and Minneapolis Fed President Neel Kashkari. As the week progresses, market watchers will closely examine consumer and producer price index data, pivotal inflation indicators emerging after the Fed’s recent decision to cut interest rates.
Additionally, traders are set to scrutinize earnings reports from major companies such as Home Depot and Shopify, due on Tuesday. The unfolding economic reports and corporate earnings will likely influence market directions in the coming days, adding layers of complexity to investors’ strategies in this high-stakes post-election climate.
Original Story https://www.cnbc.com/2024/11/11/stock-market-today-live-updates.html
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