Stock market today: Dow, S&P 500 futures hit pause on record-setting rally

Published On Nov 12, 2024, 7:12 AM

The recent record-setting rally in U.S. stock markets has paused as futures contracts for major indices like the Dow Jones and S&P 500 have dipped. Investors are concerned about whether the stock buying has become excessive and are monitoring upcoming changes in policy with Donald Trump's cabinet appointments. There's also speculation about potential inflation due to these shifts in economic policy. Additionally, major stocks linked to Trump trades, such as Tesla and cryptocurrency-related stocks, are losing steam, indicating potential profit-taking among investors. Important economic reports on consumer prices and retail sales are expected this week, which could further influence the market.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

Given the current pause in the rally and concerns about potentially excessive buying, a cautious stance may be prudent. Stocks tied to Trump trades are showing weakness, which might suggest profit-taking is beginning. Investors should monitor upcoming economic data closely as it might influence market sentiment.

TSLAView TSLA chart on TradingView

Negative

With potential policy shifts and inflation concerns looming, sectors that might be negatively impacted include technology and consumer discretionary, particularly those related to the recent 'Trump trades'. As a result, it may be wise to consider reducing exposure in these areas.

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