Stocks Resume Post-Election Rise
Published On Nov 29, 2024, 1:46 PM
November saw the S&P 500 achieve its best monthly performance in a year, rising 5.7%. This surge was fueled by optimism surrounding President-elect Trump's plans for tax cuts and deregulation, despite market fluctuations triggered by his proposed tariffs on Canada, Mexico, and China. Key performers included Palantir, which gained over 60% due to strong earnings and its position in AI, while Celanese suffered significant losses of nearly 42% following disappointing earnings.
Stock Forecasts
PLTR
Positive
The strong performance of the S&P 500 suggests a bullish sentiment among investors. The positive economic outlook associated with potential tax cuts and deregulation under the new administration supports further gains. Palantir's impressive growth reflects increased investor confidence in technology and defense stocks, especially with its AI capabilities. Conversely, Celanese's outlook may deter potential investors due to anticipated demand weaknesses.
SPY
Positive
The S&P 500 is likely to maintain upward momentum as market confidence remains high despite short-term political uncertainties. However, risk factors such as potential trade tensions and economic disruptions due to tariffs may introduce volatility.
CE
Negative
Investing in defensive stocks may be prudent in light of potential market volatility, as stocks like Celanese may continue to struggle in the near term. Therefore, investors could expect downward pressure on companies facing serious demand challenges.
Related News
Stock market today: Dow, S&P 500 close at record highs to cap winning month for US stocks
Nov 29, 2024, 2:02 PM
Stocks finished off a winning month of November at record highs to cap a holiday-shortened trading session.
Dow jumps nearly 200 points to record in short session, S&P 500 posts best month of 2024: Live updates
Nov 29, 2024, 7:36 AM
The three major indexes finished November notably higher.
Stock market today: Dow, S&P 500 close at record highs to cap winning month for US stocks
Nov 29, 2024, 2:02 PM
Stocks finished off a winning month of November at record highs to cap a holiday-shortened trading session.