Stock market today: S&P 500 flirts with 6,000 mark as Wall Street heads for best week in a year
Published On Nov 8, 2024, 12:24 PM
US stocks are on track for their best week of the year following Donald Trump's presidential victory and the Federal Reserve's rate cut. The Dow Jones Industrial Average broke the 44,000 mark for the first time, while the S&P 500 reached new highs, briefly touching 6,000. Optimism around Trump's economic policies is driving this rally, although concerns about China's fiscal stimulus and potential tariffs loom. Nvidia has officially joined the Dow, overshadowing Intel, while Tesla's market cap hit $1 trillion amid stock gains. Meanwhile, Airbnb's shares fell significantly after mixed earnings results, reflecting some volatility in the market.