Stock market today: Dow, S&P 500, Nasdaq futures edge higher as Wall Street weighs Trump's tariff threats

Published On Nov 26, 2024, 6:58 AM

US stock futures are trending upward as investors react to President-elect Donald Trump's threat to impose new tariffs on major trading partners, including China, Canada, and Mexico. Trump's pledge has raised concerns about potential trade wars, reflecting on Wall Street's expectation of monetary policies under the new administration. Despite initial jitters regarding the tariffs, market sentiment remains buoyant, continuing gains from previous records. Investors are also anticipating upcoming Federal Reserve minutes, which may provide insight into the pace of future interest rate adjustments.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

The upcoming tariff threats may cause volatility in the markets, but given the current upward trend and the resilience shown by investors in maintaining gains, potential growth in stocks can be expected. Overall, the strength of the initial market reaction suggests confidence among investors despite trade concerns.

XLYView XLY chart on TradingView

Negative

As potential tariffs get implemented, it will be important to watch how companies in sectors heavily reliant on imports, like large retailers or tech firms, react. A decrease in stock prices for these firms can be anticipated if tariffs negatively impact their operations. However, broader market trends could counterbalance these effects in the short term, especially if stocks overall maintain a positive momentum.

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