Traders work at the New York Stock Exchange (NYSE) on Friday, November 8, 2024.
Source: New York Stock Exchange
Stock futures were nearly flat late Monday as Wall Street continued to analyze which sectors to put money into in the post-election rally that saw stocks rise to record levels.
Futures tied to the Dow Jones Industrial Average fell 37 points, or 0.1%. S&P 500 and Nasdaq 100 futures also fell about 0.1% each.
Monday’s action comes as markets begin to rise after Donald Trump won the presidential election last week. this Dow Chemical The market closed up more than 300 points and closed above 44,000 points. S&P 500 Index The turnout at the end of the session was just over 6,000. To this point, Monday marked the first time both companies closed above their respective levels in a single session.
this Nasdaq Index It edged higher during the session, closing at a record high for the fourth consecutive day. At the same time, mainly small-cap stocks Russell 2000 surge 1.5%.
Away from stocks, Bitcoin surged to a new all-time high above $89,000 on Monday.
“The market is looking at the presidential election and any policies they think are going to be implemented,” said Larry Tantarelli, founder of Blue Chip Daily Trends Report. “This is consistent with a lot of what we saw in 2016 when Trump first won the election. Same.”
Investors will focus on small business economic data due Tuesday morning. They will also be watching for comments from Fed officials, including Fed Governor Christopher Waller and Minneapolis Fed President Neel Kashkari throughout the day.
Market participants will then turn their attention to consumer and producer price index readings due later this week. The inflation gauges were released after the Federal Reserve announced another rate cut last week.
Traders will also parse from home depot and Shopping expected Tuesday.
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