Stock market today: Dow leads stocks down as record-setting rally takes a breather
Published On Nov 12, 2024, 3:09 PM
US stock markets experienced a pause after a strong rally, as investors evaluated the implications of President-elect Donald Trump's appointments and potential policies. Major indexes like the Dow Jones and S&P 500 saw slight declines. Boeing shares dropped significantly due to a sharp decrease in aircraft deliveries attributed to recent worker strikes. Rising Treasury yields are also affecting market sentiment, with investors bracing for an upcoming Consumer Price Index report that could impact inflation expectations. Notably, stocks linked to the cryptocurrency surge, including Tesla, paused after rapid gains following Trump's election. The broader market appears cautious as speculation grows about future economic policies and inflation.
Stock Forecasts
BA
Negative
Given the recent decline in stock prices following a significant rally, coupled with concerns regarding inflation and fiscal policy under a new administration, a cautious outlook is warranted. Boeing's performance is expected to struggle in the short term due to significant production setbacks and delivery issues.
COIN
Positive
The ongoing interest in cryptocurrency, particularly Bitcoin, suggests potential strength for Coinbase as traders remain optimistic about the future of digital currencies under a pro-crypto administration.
SHOP
Positive
Shopify's strong earnings and revenue guidance indicate continued growth potential. The jump in stock price suggests positive momentum that could persist as the e-commerce sector remains resilient.
SPY
Neutral
With rising yields and a high S&P 500 earnings multiple, cautious sentiment remains prevalent among investors. Expect fluctuations unless a stronger economic indicator emerges in the near term.
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