Wall St ends higher as investors firm bets on Trump win, rate cuts

Wall St ends higher as investors firm bets on Trump win, rate cuts

By Stephen Culp

Mon July 15, 2024 4:26 PM

DJ: 40,000.90  +247.15     NAS: 18,398.45  +115.04       S&P: 5,615.35  +30.81  7/12

DJ: 40,211 .72  +210.82    NAS: 18,472.57  +74.12         S&P: 5,631.22  +15.87  7/15

Since the weekend’s events and Trump’s subsequent boost in the polls, investors have become more comfortable with a Trump 2^nd term with the hopes of more tax cuts and less regulation and put the odds of a Trump victory at 67% (vs 60% last week) and a mere 26% for Biden per online betting site PredictIt. (Have no idea how reputable PredictIt is.) 

Anyway, there was another rally today to build more on Friday’s, with a September rate cut now considered a virtual certainty. It was however another seesaw today with the indexes up and down all day. The Dow reached a high of +351 before declining, the Nasdaq a high of +241, the S&P +50, all around the noon hour before declining.  The exuberance was only in the morning and then quickly died off.  Volume still remains below the 4-week average at 11.07 billion. 

Mon 7-15-24 4:26 pm Wall St ends higher as investors firm bets on Trump win, rate cuts | Reuters