Stock market today: Dow, S&P 500, Nasdaq waver as Wall Street braces for Election Day

Published On Nov 4, 2024, 3:07 PM

US markets faced fluctuation as investors prepared for significant events such as the presidential elections and the Federal Reserve's policy meeting. The S&P 500 and Nasdaq remained near unchanged, while the Dow Jones dropped slightly. A solid earnings season and potential interest rate cuts offer some optimism. Recent polls indicate a tighter race between Kamala Harris and Donald Trump, leading to increased market volatility. Notably, Nvidia's stock rose on news of its upcoming inclusion in the Dow, reflecting a positive market anticipation for technology stocks as AI investments continue to grow. Oil prices surged due to OPEC+'s decision to delay output increases. Moreover, Peloton saw a rise following a stock upgrade, while Constellation Energy felt declines after a regulatory setback.

Stock Forecasts

Nvidia's growth is supported by rising AI infrastructure spending, which has strong backing from major tech players. Anticipated inclusion in the Dow further boosts investor sentiment. Given the ongoing enthusiasm for AI technologies and Nvidia's robust position in the market, growth is likely to continue.

Peloton's stock increase follows an optimistic upgrade due to new management, signaling potential recovery. If the new leadership successfully capitalizes on market trends, the stock could see sustained growth.

Constellation Energy's decline reflects regulatory challenges regarding nuclear power agreements. With lengthy processes for such agreements and potential increases in operational costs, the stock faces downward pressure.

DJT stock is bracing for heightened volatility as election outcomes could shift investor sentiments rapidly. This uncertainty is leading to cautious selling and potential setbacks ahead of closely watched market events.

Oil price increases triggered by OPEC+'s output decisions could benefit energy stocks broadly. If these prices stabilize or continue to rise amid geopolitical tensions, energy-focused ETFs may see positive movement.

Related News

Trump is the ultimate election "whale," with as much as $5.7 billion riding on whether he wins or not.

Peloton stock jumped on Monday following an upgrade from Bank of America.

Investors are bracing for a week of potentially huge market-moving events — the presidential election and the Federal Reserve policy decision.

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