S&P 500 breaks 6,000 level as Trump and Fed-fueled rally advances
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.
The Dow and S&P registered their biggest weekly gains in a year with the Nasdaq not far behind with its second biggest weekly haul in a year. Investors are eyeing the House races now to see if there will be a “Red Sweep” which will mean fewer obstacles for Trump’s agenda. For the third day, volume remains considerably above the 12.74 billion average, coming in today at 15.46 billion.
DJ: 43,729.34 -0.59 NAS: 19,269.46 +285.99 S&P: 5,973.10 +44.06 11/7
DJ: 43,988.99 +259.65 NAS: 19,286.78
+17.32 S&P: 5,995.54
+22.44 11/8
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