close
close

first Drop

Com TW NOw News 2024

    • Dow, S&P 500, Nasdaq up an inch, eye return to Trump rally
    news

    Dow, S&P 500, Nasdaq up an inch, eye return to Trump rally

    Vaseline Posted on

    U.S. stocks moved higher on Thursday, anticipating a return to the Trump rally, as investors assessed the next president’s likely impact on markets and awaited the Federal Reserve’s policy decision.

    The Dow Jones Industrial Average (^DJI) rose 0.1% after a 1,500-point gain that marked the blue chip’s best day since 2022. The S&P 500 (^GSPC) rose roughly 0.3%, while the technology sector’s heavyweight Nasdaq Composite (^IXIC) rose 0.5%.

    The mood still seems upbeat after Donald Trump’s victory in the presidential election, which sent all three major stock prices to new record highs on Wednesday. His plans for corporate tax cuts and deregulation have fueled optimism about a boost to the economy that will impact stocks.

    But some on Wall Street see signs of a relief rally as Trump’s decisive victory also eases concerns about a contested vote. They suggest stock gains could slow as the euphoria fades.

    The Fed’s interest rate decision later Thursday — usually a dominant event for markets — takes a back seat amid the fallout from the election.

    For starters, investors see a 25 basis point rate cut as an almost certain certainty at the end of the policymakers’ two-day meeting. Instead, the focus is on what Chairman Jerome Powell might reveal about the future policy path, especially as Trump’s return could mean rates stay higher for longer.

    On the corporate front, shares of Arm Holdings (ARM) fell as the chip designer’s revenue forecast disappointed Wall Street’s hopes for stronger AI-powered growth. In contrast, shares of Qualcomm (QCOM) rose more than 4% after its sales and earnings outlook exceeded expectations.

    Meanwhile, shares of Trump Media & Technology Group (DJT) continued to retreat after the big spike that followed the election results. Shares of the company — home to Trump’s social media platform Truth Social — fell double digits in early trading.

    LIVE 3 updates

    • Ines Ferre

      DJT shares are sinking, reversing election-fueled gains

      Trump Media & Technology Group (DJT) stock fell double digits in premarket trading on Thursday, reversing the gains it made on Wednesday when Donald Trump emerged victorious over Kamala Harris in the presidential election.

      As Yahoo Finance’s Allie Canal reports, shares in the company — home to Trump’s social media platform Truth Social — have been on a wild ride over the past week, with the up-and-down moves largely tied to Trump’s chances of taking the stock back to win. White House.

      The stock is down about 10% in the past five days, although shares are up nearly 120% in the past month.

      Read more here.

    • Ines Ferre

      The number of initial unemployment claims rises to 221,000

      Initial unemployment claims rose to 221,000 last week, up 3,000 from the previous week’s revised level, according to data released Thursday morning by the U.S. Department of Labor.

      The level of the previous week was adjusted upwards by 2,000, from 216,000 to 218,000.

      Meanwhile, claims continued to reach 1,892,000, an increase of 39,000 from the previous week’s revised level.

    • Jenny McCall

      Good morning. This is what’s happening today.

      Here’s a look at the big economic and market themes happening today as Wall Street adjusts to Donald Trump’s impending return to the White House. The Federal Reserve is expected to cut interest rates by 25 basis points today, aiming for stability and avoiding surprises after Trump’s election victory.

      Economic data: Fed Rate Decision; Initial unemployment claims (week ending November 2)

      Income: Affirm (AFRM), Airbnb (ABNB), Block (SQ), Datadog (DDOG), DraftKings (DKNG), Halliburton (HAL), Hershey (HSY), Moderna (MRNA), Pinterest (PINS), Rivian (RIVN), The Trading Desk (TTD)

      Here are some of the biggest stories you missed last night and early this morning:

      Fed will likely cut rates as Powell looks for stability after Trump’s victory

      The spike in US bond yields is a warning for Trump, the king of debt

      How Elon Musk’s latest government push paid off

      YF columnist Rick Newman: Americans want to return to a place that no longer exists

      Short sellers of DJT are hit with a $420 million loss

      How Elon Musk’s latest government push paid off

      Moderna shares are rising on surprise COVID vaccine gains

      Bank of England cuts interest rate to 4.75%

    Vaseline
    View all posts

    You Might Also Like