Stock market today: Dow, S&P 500, Nasdaq waver as Iowa surprise dents Trump trade

Published On Nov 4, 2024, 9:31 AM

U.S. stock markets faced volatility on Monday as investors prepared for significant upcoming events, including the presidential election and the Federal Reserve's interest rate decision. The S&P 500 remained stable, while the Nasdaq Composite dipped slightly. Earnings reports so far have been solid, contributing to some market optimism. Additionally, oil prices surged due to OPEC+'s decision to delay an increase in supply.

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Stock Forecasts

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Positive

With a potential rate cut anticipated from the Fed, and a solid earnings season providing support, investor sentiment remains cautiously optimistic. If Kamala Harris gains an unexpected lead in the elections, it could bolster market confidence further, especially in sectors related to infrastructure and technology.

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Positive

Oil price increases sparked by OPEC+'s output decision could signal further gains in energy sector stocks, especially for companies heavily involved in oil production or exploration.

NVDAView NVDA chart on TradingView

Positive

Nvidia's entry into the Dow and the ongoing advancements in AI technology may bolster investor interest, leading to upward momentum for its stock.

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