Monday, November 11, 2024

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.  

The much weaker performance from tech was written off as the market simply taking a breather after both the S&P and Nasdaq gained a whopping 4% and 5% since the election. But, as one expert said, “The trend is moving higher. I would not be surprised if the Trump rally bleeds into a Santa Claus rally.” Once again, as has been true since Wednesday, volume is way above the monthly 12.8 billion average, coming in today at 15.4 billion. 

DJ: 43,988.99  +259.65      NAS: 19,286.78  +17.32      S&P: 5,995.54  +22.44       11/8

DJ: 44,293.13  +304.14      NAS: 19,298.76  +11.99      S&P: 6,001.35  +5.81         11/11

Mon 11-11-24 12:31 pm S&P 500 posts record high close, Trump-linked stocks | Reuters


No comments:

Post a Comment