Wall Street extends rally from Trump victory, Fed decision awaited
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Major indexes at fresh record highs
US weekly jobless claims rise moderately
Small-caps edge lower, financials fall
Fed likely to cut rates by 25 bps
Indexes: Dow down 0.04%, S&P 500 up 0.61%, Nasdaq up 1.30%
Updated at 11:40 a.m. ET/1640 GMT
By Lisa Pauline Mattackal and Ankika Biswas
Nov 7 (Reuters) -Wall Street's main indexes added to their gains on Thursday in the run-up to the Federal Reserve's interest-rate decision, extending a sharp rally sparked by Donald Trump's stunning comeback as U.S. president for a second time.
Traders have about fully priced in a 25-basis-point rate cut, but will keep a close watch on the central bank's commentary for clues on the future path of monetary easing.
Investor expectations that Trump would lower corporate taxes and loosen regulations had lifted all three major indexes in the previous session.
Adam Turnquist, Chief Technical Strategist for LPL Financial said it was the S&P 500's best post-Election Day performance on record.
On Thursday too, all the three major indexes were trading near record highs, but going ahead much would depend on the central bank's rate-cut outlook.
Traders have trimmed their bets to just two rate cuts in 2025 on consistently robust economic data and after accounting for the chances of higher inflation stemming from Trump's proposed tariffs and government spending.
"(The election) could slow the Fed's cutting speed next year, I still think you cut today and in December by 25 basis points, and as you go into next year it turns into quarterly cuts," said Frank Rybinski, head of macro strategy at Aegon Asset Management.
"But at the end of the day, the pendulum is shifting towards lower rates."
Treasury yields are hovering near multi-month highs, though the benchmark 10-year yield US10YT=RR eased slightly. US/
Meanwhile, some of the Trump trades that surged after his sweeping victory gave back gains, with Trump Media & Technology DJT.O dropping 20%.
After hitting a record high on Wednesday, Financials .SPSY lost 1.4%, led by a 4.3% slide in JPMorgan Chase JPM.N, which also weighed on the Dow.
The small cap Russell 2000 .RUT slipped 0.1% in choppy trading, but was still at aroundthree-year highs it touched in the last session.
Communication Services sector.SPLRCL rose 1.6.%,while rate-sensitive industrials .SPLRCI edged lower and energy .SPNY lost 1%.
The Dow Jones Industrial Average .DJI fell 16.65 points, or 0.04%, to 43,713.28, the S&P 500 .SPX gained 36.38 points, or 0.61%, to 5,965.42 and the Nasdaq Composite .IXIC gained 247.11 points, or 1.30%, to 19,230.57.
Data showed U.S. weekly jobless claims rose marginally last week, suggesting no material change in labor market conditions.
Focus is also on whether Republicans could win control of both houses of Congress, making it easier for Trump's policies to be enacted.
U.S.-listed shares of chip designer Arm Holdings ARM.O rose 6%, reversing early lossesas its quarterly forecasts disappointed investors.
Warner Bros Discovery WBD.O soared 10.5%after a surprise third-quarter profit.
The VIX .VIX, Wall Street's "fear gauge," was trading at a six-week low.
Advancing issues outnumbered decliners by a 1.84-to-1 ratio on the NYSE and a 1.33-to-1 ratio on the Nasdaq.
The S&P 500 posted 45 new 52-week highs and three new lows while the Nasdaq Composite recorded 156 new highs and 59 new lows.
S&P 500 in the 5 days after presidential election https://tmsnrt.rs/4hk2wgw
Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru; Editing by Arun Koyyur
Aset Terkait
Berita Terbaru
Pengungkapan: Entitas XM Group menyediakan layanan khusus eksekusi dan akses ke Fasilitas Trading Online kami, yang memungkinkan Anda untuk melihat dan/atau menggunakan konten yang tersedia pada atau melalui situs, yang tidak untuk mengubah atau memperluas, serta tidak mengubah atau memperluas hal tersebut. Akses dan penggunaan ini selalu sesuai dengan: (i) Syarat dan Ketentuan; (ii) Peringatan Risiko; dan (iii) Pengungkapan Penuh. Oleh karena itu, konten disediakan hanya sebagai informasi umum. Anda juga harus ketahui bahwa konten Fasilitas Trading Online kami bukan sebagai ajakan atau tawaran untuk untuk melakukan transaksi apa pun di pasar finansial. Trading di pasar finansial mana pun melibatkan tingkat risiko yang signifikan pada modal Anda.
Semua materi yang diterbitkan di Fasilitas Trading Online kami hanya untuk tujuan edukasi/informasi dan tidak boleh mengandung nasihat dan rekomendasi finansial, pajak investasi atau trading, catatan harga trading kami, penawaran, permintaan, transaksi dalam instrumen finansial apa pun atau promo finansial untuk Anda yang tidak diminta.
Konten pihak ketiga apa pun, serta konten yang disiapkan oleh XM, seperti opini, berita, riset, analisis, harga, informasi lain atau link ke situs pihak ketiga yang tersedia "sebagaimana adanya", sebagai komentar pasar umum dan bukan menjadi nasihat investasi. Sejauh konten apa pun ditafsirkan sebagai penelitian investasi, Anda harus memperhatikan dan menerima bahwa konten tersebut tidak dimaksudkan dan belum disiapkan sesuai dengan persyaratan hukum yang dirancang untuk mempromosikan kemandirian riset investasi dan dengan demikian akan dianggap sebagai komunikasi pemasaran di bawah hukum dan peraturan yang relevan. Mohon dipastikan bahwa Anda telah membaca dan memahami Notifikasi pada Riset Investasi Non-Independen dan Peringatan Risiko kami mengenai informasi di atas, yang dapat diakses disini.
