Stock market today: S&P, Nasdaq hit records as Fed cuts rates, post-election rally rolls on
Published On Nov 7, 2024, 4:07 PM
Following Donald Trump's victory in the presidential election, the U.S. stock market experienced a significant rally, with record highs for major indices including the S&P 500 and Nasdaq. The Federal Reserve also cut interest rates by 25 basis points, contributing to investor optimism, particularly in technology stocks. Key players like Nvidia and Amazon saw notable gains as a result. The election results have spurred excitement for potential economic policies that could favor the stock market, leading analysts to predict continued bullish momentum. However, the housing sector may face challenges due to rising mortgage rates.