Stock market today: Dow, S&P 500, Nasdaq rise as Wall Street braces for election results

Published On Nov 5, 2024, 11:23 AM

U.S. stocks, including the Dow, S&P 500, and Nasdaq, experienced gains as investors await the outcome of the presidential election between Kamala Harris and Donald Trump. The market is anticipating potential volatility due to the close race, with significant implications for monetary policy and economic direction. Despite short-term uncertainty, historical trends suggest that election outcomes rarely halt long-term stock market gains. Meanwhile, key earnings reports and Federal Reserve decisions are also expected to play a role in market movements.

Stock Forecasts

With the anticipated effects of a divided government or a close election in terms of policies affecting technology and defense spending, stocks like Palantir and Trump Media could continue to see volatility but with a general upward trend due to increasing government contracts and interest in tech.

Considering the significant labor agreements and banter around economic policies post-election, Boeing's recent drop despite worker agreements indicates volatility. Given the uncertainty around stock performance influenced by broader economic signals, I predict a cautious outlook with potential for negative directional shifts in the near term as the market digests the implications of these contracts amid ongoing inflation concerns.

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