Stock market today: S&P 500, Nasdaq futures lose grip on records as Trump trade fizzles

Published On Nov 8, 2024, 7:47 AM

The stock market is experiencing a pullback as both S&P 500 and Nasdaq futures have lost ground. Following the initial excitement over Donald Trump winning the recent election, investor optimism is waning, particularly as doubts arise over his ability to implement proposed economic policies. Additionally, disappointment surrounding China's new fiscal stimulus plan has further dampened market sentiment. Despite this pullback, major indices have had a strong week overall, aided by an interest rate cut from the Federal Reserve.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

Investors are reevaluating their strategies as the Trump trade fizzles, suggesting a potential downturn in related stocks. The uncertainty surrounding Trump's policy implementation raises concerns.

FXIView FXI chart on TradingView

Negative

With the disappointing fiscal stimulus from China and its impact on global markets, sectors tied to Chinese economic performance might see negative sentiment.

SONYView SONY chart on TradingView

Positive

Despite the overall market struggles, Sony's strong quarterly results may indicate positive sentiment for its stock amidst the broader market pullback.

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