Stock futures are little changed as Wall Street looks to extend postelection rally: Live updates
Published On Nov 7, 2024, 6:02 PM
U.S. stock futures remained stable following a significant rally in the stock market prompted by President-elect Donald Trump's victory and the Federal Reserve's recent interest rate cut. The S&P 500 and Nasdaq Composite reached record highs, reflecting strong performance. Investors generally perceive a Republican administration to favor deregulation and tax cuts, although concerns about inflation due to potential tariffs linger. Stocks such as Airbnb, Akamai Technologies, and Block made notable moves in after-hours trading, influenced by recent earnings reports, some of which missed expectations.
Stock Forecasts
SPY
Positive
The overall market sentiment is bullish due to the election outcome and the Fed's rate cut, which may benefit growth-oriented sectors.
ABNB
Negative
Airbnb's slight earnings miss could pressure shares in the short term, suggesting caution for investors looking to enter or hold positions.
AKAM
Negative
Akamai Technologies' disappointing guidance may lead to further declines as it indicates operational challenges, advising caution on stock accumulation.
SQ
Neutral
Despite a revenue miss, the underlying growth potential of Block remains strong; however, volatility may persist in the short term due to investor reaction to earnings.
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