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.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

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 View TSLA chart on TradingView

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.

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