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.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

The overall market sentiment is bullish due to the election outcome and the Fed's rate cut, which may benefit growth-oriented sectors.

ABNBView ABNB chart on TradingView

Negative

Airbnb's slight earnings miss could pressure shares in the short term, suggesting caution for investors looking to enter or hold positions.

AKAMView AKAM chart on TradingView

Negative

Akamai Technologies' disappointing guidance may lead to further declines as it indicates operational challenges, advising caution on stock accumulation.

SQView SQ chart on TradingView

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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