Stock market today: Dow, S&P 500, Nasdaq slip with Powell speech, Trump-led sweep in focus

Published On Nov 14, 2024, 12:00 PM

Today, U.S. stock markets saw slight declines, with the Dow, S&P 500, and Nasdaq all dipping approximately 0.2%. Investors are awaiting a significant speech from Federal Reserve Chairman Jerome Powell, which may influence prospects for interest rate cuts. There's also attention on the recent Republican sweep in Congress, which could affect economic policies under President-elect Donald Trump. The overarching sentiment remains positive, deriving from expectations of a rate cut in December due to recent consumer inflation data. Notably, Disney's shares spiked following strong quarterly earnings and optimistic future projections, signaling investor faith in its continued recovery in the streaming sector.

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Stock Forecasts

DISView DIS chart on TradingView

Positive

With positive quarterly earnings that beat estimates, coupled with a strong outlook for the next years, Disney's stock is likely to maintain upward momentum. This is supported by its recovery in the streaming sector, which is essential for long-term growth.

TSLAView TSLA chart on TradingView

Negative

Tesla's stock has seen a correction after a significant post-election rally, now facing profit-taking and scrutiny over its recent recalls. Given these recent developments, Tesla's shares may see continued volatility without immediate positive catalysts.

TPRView TPR chart on TradingView

Positive

As Tapestry's stock surged following the abandonment of its merger plans, it indicates strong market support for its independent strategy. The momentum could bring more investor interest and strength in its share price as the company repositions itself.

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