S&P 500, Dow close at record highs on tech, retail in focus

S&P 500, Dow close at record highs on tech, retail in focus

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Fri November 29, 2024 6:17 PM

It was yet another record-setting day for both the Dow and S&P as record-setting holiday weekend retail sales plus a bounce back for both IT and chips sent both tech and industrials into another round of 3-digit gains. As things have been going for weeks now, every good day has been credited to either equities feeling the impact of the rate cuts or Trump’s victory favoring business.  

Wall Street stocks end lower after inflation data, tech stocks push Nasdaq down

Wall Street stocks end lower after inflation data, tech stocks push Nasdaq down

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Wed November 27, 2024 4:25 PM

The Dow opened some 150 points up and stayed in the black until about noon when it slid into the red for the rest of the session. Tech fared poorly with both indexes well into the red all day. Uncertainty continues to plague the market, particularly uncertainty over inflation as the PCE increased solidly in October, a sign that the economy remains too robust and that the war against inflation has stalled. This of course adds to the more important uncertainty over the future of rate cuts.  

Wall Street stocks end higher on tech; markets analyze Trump's tariff threats, Fed minutes

Wall Street stocks end higher on tech; markets analyze Trump's tariff threats, Fed minutes

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Tue November 26, 2024 4:21 PM

The Dow spent most of the day in the red, deeply in the red over 300 points by 10:30, then slowly recovering and even gaining 123 by close. Tech did much better with the two indexes well into the black all day, though activity was still choppy, as it has been. There is a tug of war going on as investors continue to parse the possible impact of the potential tariffs.  

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

Wall St closes higher; small-caps hit record high after Trump nominates Bessent

By Saeed Azhar, Johann M Cherian and Purvi Agarwal

Mon November 25, 2024 4:36 PM

Wall Street apparently very much approves of Scott Bessent, Trump’s nominee for Treasury Secretary, which has eased concerns about possible tariffs, and this shot the Dow way up as industrials as well as underperforming small caps are now seeing the benefit of the rate cuts, the Dow achieving another very impressive 3-digit gain. But tech has continued to be choppy and gains modest due to strong economic data which has raised doubts as to whether the Fed will slow down the rate cuts. The odds of a December cut vs a pause has once again been reduced to about 50/50. But overall, the day saw much enthusiasm with industrials and small caps which was reflected in the volume of 16.7 billion, way above the 14.9 billion average. 

DJ: 44,296.51  +426.16     NAS: 19,003.65  +31.23       S&P: 5,969.34  +20.63       11/22

DJ: 44,736.57  +440.06     NAS: 19,054.84  +51.19       S&P: 5,987.37  +18.03       11/25

Mn 11-25-24 4:36 pm Wall St closes higher; small-caps hit record high after Trump nominates Bessent | Reuters

Wall Street closes higher after business activity data

Wall Street closes higher after business activity data

By Abigail Summerville and Johann M Cherian

Fri November 22, 2024 4:43 PM

Choppiness was the order of the day across all of tech as the market obviously has returned to a state of nervousness regarding the legal woes of both Google and Amazon as well as the future sustainability of AI as evidenced by Nvidia slipping 3.2%, also in choppy trading. But investors are taking a positive twist on all this watching “this leadership change go from technology to everything else” with small caps acting much better. This was amply demonstrated by a second day of spectacular performance on the traditional Dow.  

Wall Street closes higher as Dow, S&P hit one-week tops

Wall Street closes higher as Dow, S&P hit one-week tops

By Abigail Summerville

Thu November 21, 2024 4:45 PM

The markets need not have worried about the future of Nvidia and AI. Today’s report was beyond expectations and confirmed that both are alive and well and are expected to remain so for quite some time. Despite this, both tech indexes took a dive this morning, the Nasdaq especially starting the day 250 points down until slowly recovering to break-even, the S&P doing a little better.  

Wall Street ends mixed, Nvidia shares slip after the bell

Wall Street ends mixed, Nvidia shares slip after the bell

By Abigail Summerville

Wed November 20, 2024 7:25 PM

Tech took a big hit all day with the Nasdaq down nearly 300 points in the morning and the S&P not too far behind with a 60 point loss at 10:30, but both choppily recovering to near break-even at close. The Dow was on a rocky course bouncing back and forth several times between 200 point losses and break-even before finally breaking through in the 11^th hour and gaining 139 at close.  

S&P 500, Nasdaq end up with Nvidia; Walmart hits record after forecast

S&P 500, Nasdaq end up with Nvidia; Walmart hits record after forecast

By Caroline Valetkevitch

Tue November 19, 2024 4:56 PM

All three indexes started the day in the red, especially the Dow sinking 450 points by 10 a.m. Then they all steadily rose with tech going quickly into the black with handsome gains by close, all eagerly awaiting Nvidia’s Q3 later in the week on which there are very heavy bets. The Dow never got out of the red but did recover most of the day’s losses closing down 120. 

Nasdaq, S&P close higher as investors await Nvidia earnings

Nasdaq, S&P close higher as investors await Nvidia earnings

By Abigail Summerville

Mon November 18, 2024 4:37 PM

The Dow spent the day on a rollercoaster swinging back and forth between a 150 point loss and a 60 point gain but closing down 55. Tech fared considerably with a steady upswing due to renewed optimism today over the coming Trump policies that are expected to be favorable to tech. But there continues the tug-of-war over the controversial cabinet picks, whether Trump’s policies will hurt the economy, and whether AI rally will sustain or begin to wane. The latter will be closely watched as investors await Nvidia Q3. Volume is still a little above average but with election euphoria declining, the gap is closing with 14.9 billion shares traded vs a 14.1 billion average. 

DJ: 43,444.99  -305.87      NAS: 18,680.12  -427.53      S&P: 5,870.62  -78.55       11/15

DJ: 43,389.60  -55.39        NAS: 18,791.81  +111.69      S&P: 5,893.62  +23.00      11/18

Mon 11-18-24 4:37 pm Nasdaq, S&P close higher as investors await Nvidia earnings | Reuters

Wall St sinks on Powell rate-cut caution, Trump cabinet picks

Wall St sinks on Powell rate-cut caution, Trump cabinet picks

By Sinéad Carew and Lisa Pauline Mattackal

Fri November 15, 2024 6:46 PM

For the second day, the indexes suffered 3-digit losses, today even more so than yesterday, as investors exercised increased caution over the potential fallout from Trump’s coming policies, exacerbated in the last couple of days by the controversial cabinet nominations, particularly RFK as healthcare and especially vax stocks took a tumble. Even defense stocks took a hit over concerns with the new Department of Government Efficiency.  

Wall St indexes end lower after Powell erodes hopes for December rate cut

Wall St indexes end lower after Powell erodes hopes for December rate cut

By Sinéad Carew and Lisa Pauline Mattackal

Thu November 14, 2024 4:31 PM

All it took was the smallest hint from Powell today that the Fed “need not rush to ease monetary policy” to send all three indexes on a steady stream downwards from the open with both the Dow and Nasdaq going into 3-digit losses. The Richmond Fed prez also remarked that the possible coming tariffs could make the Fed more cautious. So, despite the fact that PPI came in almost exactly the same as yesterday’s CPI which propped up enthusiasm, today that same enthusiasm got squashed with the odds of a December rate cut falling to 62% vs yesterday’s 85% vs Monday’s 59%.  

Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact

Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact

By Sinéad Carew and Purvi Agarwal

Wed November 13, 2024 4:54 PM

CPI came in exactly as expected and, though it rose 0.2% for the fourth straight month (2.6% annual), it did not rise more than forecast which was good news for the markets in terms of rate cuts, now putting the odds for ¼ point December cut at 82%, up from 59% just two days ago. But the three indexes went through a wild rollercoaster ride today with the Dow swinging back and forth in a 300-point range, opening in the red but reaching a height of a +230 by 1 pm before declining to very modest gains by close. The bottom line for the day was “relief inflation didn’t come in ahead of expectations.” And for the sixth day, volume came in considerably above the 13.46 billion average, today closing with 16.49 billion shares traded.

DJ: 43,910.98  -382.15       NAS: 19,281.40  -17.36       S&P: 5,983.99  -17.36       11/12

DJ: 43,958.19  +47.21        NAS: 19,230.74  -50.56       S&P: 5,985.38  +1.39        11/13

Wed 11-13-24 4:54 pm Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact | Reuters

Wall Street indexes dip with focus on Trump policies, economic data

Wall Street indexes dip with focus on Trump policies, economic data

By Sinéad Carew and Lisa Pauline Mattackal

Tue November 12, 2024 5:11 PM

The Trump rally appears to be losing steam as investors today have focused on the potential negative impact of his economic policies stoking more inflation and hampering growth. Ahead of inflation data coming later this week (CPI, PPI and retail sales) and trying to hedge bets against weak reports, all three indexes went into a substantial decline all morning with a particularly strong dip between 12:30 and 1:30 before at least tech recovered to near break-even.  

S&P 500 posts record high close, Trump-linked stocks

S&P 500 posts record high close, Trump-linked stocks

By Lisa Pauline Mattackal and Purvi Agarwal

Mon November 11, 2024 12:31 PM

On this Veterans Day, it was yet another day of jubilation following Trump’s victory with the Dow jumping 500 points right out the gate and S&P up 23. Then all the indexes took a sharp dive at 1 pm but recovered an hour later. The tech indexes had more of a struggle but all three ended with gains, the Dow especially closing up 304. The Dow’s surge, resulting in yet another record close, is attributed to stocks expected to benefit from Trump’s proposed policies.  

S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances

S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances

By Chuck Mikolajczak

Fri November 8, 2024 5:07 PM

It was a fourth straight day of gains all around with the Dow surpassing 44,000 around 2:30 p.m. and the S&P scaling the 6,000 mark at the same time. In fact all the indexes reached substantial gains by mid-afternoon only to then start declining and losing a good chunk of those gains by close. (There was no explanation for the afternoon slide.) Still, it was a respectable day with the market continuing to ride high on the expected benefits from a Trump presidency.  

Stocks close higher after Fed cuts interest rates

Stocks close higher after Fed cuts interest rates

By Chuck Mikolajczak

Thu November 7, 2024 4:27 PM

After yesterday’s enormous rally as investors expected benefits from a second Trump administration, the Dow ranging back and forth several times between a -90 and a +90 but closing flat, while the tech indexes shot up once again, this time because of a new ¼ point rate cut announced today by the Fed. Relatively stable employment numbers showed the economy was remaining quite resilient.  

Stocks surge to record highs as Trump returns to presidency

Stocks surge to record highs as Trump returns to presidency

By Chuck Mikolajczak

Wed November 6, 2024 6:01 PM

Wall Street certainly loved the fact that Donald Trump is now President-Elect as both tech indexes had very substantial 3-digit gains and the Dow zoomed huge at more than 1500 points, all reaching these record highs right out the gate and stayed on the rise all day. It was the biggest one-day percentage gains in two years as investors expected lower taxes and deregulation. The VIX dropped to a six-week low of 16.27. Volume was enormous at 18.68 billion, way above the 12.16 average and this time not because of triple-witching.

DJ: 42,221.88  +427.28      NAS: 18,439.17  +259.18      S&P: 5,782.76  +70.07        11/5

DJ: 43,729.93  +1,508.05   NAS: 18,983.47  +544.29      S&P: 5,929.04  +146.28      11/6

 Wed 11-6-24 6:01 pm Stocks surge to record highs as Trump returns to presidency | Reuters

Stocks jump on Election Day as investors eye outcome

Stocks jump on Election Day as investors eye outcome

By Chuck Mikolajczak

Tue November 5, 2024 4:32 PM

Today was another vivid demonstration of the schizophrenic nature of this market since, though little has changed since yesterday’s big slide, today there was a really big rally as the market decided the odds were once again favoring a Trump victory. It was a steady upward swing from the open to close with chunky 3-digit gains all around. But have the odds really changed at all since yesterday? All the polls still show an exceedingly tight 50/50 race.  

Wall St slips as uncertainty surrounds U.S. election

Wall St slips as uncertainty surrounds U.S. election

By Chuck Mikolajczak

Mon November 4, 2024 6:16 PM

Most of the market spent most of the day in the red as the indexes bounced up and down in the red like crazy over election uncertainty. Wall Street favors Trump so when the new Iowa poll (that always goes Republican) came out favoring Harris, the indexes kept going down. One hour there would be good news about Trump, the next about Harris, not a good day for trend-followers. Uncertainty was heightened by the wide expectation that it will be at least a few days before a victor is declared.  

Wall St closes higher as Amazon's gains offset weak job growth

Wall St closes higher as Amazon's gains offset weak job growth

By Abigail Summerville

Fri November 1, 2024 4:36 PM

Yesterday’s panic over uncertain costs for AI and today’s weak jobs report showing almost no growth compared to September was more than compensated today by a glowing Amazon report showing strong retail, besides which the jobs report was admittedly watered down by the combo of the Boeing strike and the two mega-hurricanes, all of which are big anomalies. Election uncertainty remains dominant but bets are still strong for a ¼ point November rate cut. The new month seems to be offering renewed optimism as reflected in the 12.13 billion volume vs 11.7 billion average. 

DJ: 41,763.46  -378.08      NAS: 18,095.15  -512.78      S&P: 5,705.45  -108.22        10/31

DJ: 42,052.19  +288.73     NAS: 18,239.92  +144.77     S&P: 5,728.80  +23.35          11/1

Fri 11-1-24 4:36 pm Wall St closes higher as Amazon's gains offset weak job growth | Reuters