Stock market today: Dow closes at record, S&P 500, Nasdaq rise as Wall Street notches strong weekly gains

Published On Nov 22, 2024, 5:38 PM

US stock markets closed positively on Friday, with the Dow reaching record highs and overall major indices showing gains for the week. Investors responded positively to economic optimism following the election of Donald Trump, expecting pro-business policies and lower interest rates. Sectors such as Consumer Discretionary, Industrials, and Financials showed strong performance. Meanwhile, Bitcoin continued to surge towards the $100,000 mark, fueled by expectations of supportive regulatory environments under the new administration.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

Given the positive market sentiment and expectations for economic growth under Trump, the Consumer Discretionary sector, particularly companies like Tesla, are likely to see continued upward movements.

NVDAView NVDA chart on TradingView

Negative

Nvidia's stock has experienced volatility following reports of weaker earnings amidst a sector rotation. The company's growth potential in AI remains, but short-term pressures may lead to a downward trend.

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