Traders were active on the New York Stock Exchange floor during the morning session on November 7, 2024, as they observed modest movements in stock futures following a notable post-election rally. Futures linked to the Dow Jones Industrial Average saw a slight increase of 19 points, hovering just above breakeven. Similarly, S&P 500 futures remained relatively unchanged, while Nasdaq 100 futures experienced a modest rise of 0.2%.
Last week, U.S. stocks experienced a significant surge, with the Dow, S&P 500, and Nasdaq ending at record highs. The Dow and S&P 500 enjoyed their most robust weeks in about a year, with the Dow reaching the historic 44,000 mark at one point. This rally was reflected across the board, with the tech-centric Nasdaq Composite and the small-cap-focused Russell 2000 making gains.
The momentum was largely attributed to the aftermath of Donald Trump’s presidential election victory, which led to a substantial 1,500-point jump in the Dow on Wednesday. Investors closely monitored Thursday’s Federal Reserve policy update, where an interest rate cut was announced, followed by a press conference with Chair Jerome Powell.
Northern Trust’s investment chief, Katie Nixon, expressed that the resolution of election uncertainty has allowed markets to shift attention to economic and corporate fundamentals. There are no major economic reports due for Monday, but later in the week, investors are anticipated to scrutinize new inflation data. Companies such as Live Nation, the parent of Ticketmaster, and Aramark, a food and facility service provider, are expected to disclose their earnings on Monday.
Original Story https://www.cnbc.com/2024/11/10/stock-market-today-live-updates.html
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