Stock market today: S&P 500, Nasdaq edge up as Wall Street weighs Trump's tariff threat

Published On Nov 26, 2024, 9:41 AM

The U.S. stock market opened mostly higher with the S&P 500 and Nasdaq seeing gains as investors reacted to President-elect Trump's threat of imposing tariffs on major trading partners like China, Canada, and Mexico. Despite the initial trade war fears, market sentiment remained resilient, supported by recent gains from the Treasury secretary nominee, Scott Bessent, and anticipation of forthcoming Federal Reserve minutes. However, the Dow Jones lagged behind, reflecting mixed responses amid looming tariff issues.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

QQQ View QQQ chart on TradingView

Positive

Given the potential for trade tensions to escalate due to Trump's tariff threats, investor sentiment may be volatile. The tech sector could see some support due to its previous resilience and general market bounce, but overall caution is warranted in the face of potential tariffs affecting multinational operations.

BBY View BBY chart on TradingView

Negative

Best Buy's significant drop in stock value following poor earnings reports suggests a negative outlook for retail stocks specifically going into the holiday season. This may cause broader concerns among consumer discretionary stocks.

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