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.

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