Stock market today: Dow, S&P 500 futures hit pause on record-setting rally
Published On Nov 12, 2024, 7:12 AM
The US stock market has paused its recent rally, with futures for the Dow Jones and S&P 500 slightly lower as investors reassess the buying momentum. Analysts express concerns that the surge in stocks following the elections may be overextended, leading to potential profit-taking. Additionally, the market is evaluating the implications of former President Trump's cabinet appointments and their possible impact on economic policies, particularly concerning inflation and tariffs with China. Key upcoming economic reports, such as the consumer price index and retail sales data, are also in focus as they could influence the Federal Reserve's monetary policy decisions.
Stock Forecasts
SPY
Negative
Given the recent pause in the rally and concerns over overvaluation in the stock market, it might be prudent for investors to adopt a cautious approach. Profit-taking may be expected, primarily in stocks that had significant gains in recent weeks. If inflation pressures manifest as anticipated in upcoming economic data, this may lead to a bearish sentiment in the market.
TSLA
Neutral
As the market anticipates potential policy changes under the new administration, companies with ties to cryptocurrency, like Coinbase and Tesla, may face volatility. However, the continued interest and investment in these sectors can buy time for a rebound.
Related News
The FOMO market is back: Morning Brief
Nov 12, 2024, 6:00 AM
The recent surge in stocks is absolutely explained by the Trump trade. But it's not the only thing going on: There are other reasons why the FOMO trade is back.
Trump Is Set to Elevate China Hawks, Deepening Beijing Rift
Nov 12, 2024, 1:57 AM
(Bloomberg) -- President-elect Donald Trump is poised to pick two men with track records of harshly criticizing China for key posts in his new administration, a sign relations between the superpowers may deteriorate further in coming years.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, Im
Trump trade powers Dow 44,000, S&P 6,000 as stocks keep humming
Nov 11, 2024, 8:26 PM
The Dow, S&P 500 and Nasdaq Composite hit a fresh round of new record highs as investor optimism continues following President-elect Donald Trump's historic White House win.