Focus this week was squarely on upcoming consumer price index inflation data for October, for more signs that inflation is easing. The reading comes just a week after the Fed cut interest rates by 25 basis points, and reiterated that future easing will be largely dependent on the path of inflation.
The Dow Jones Industrial Average surged more than 300 points on Monday and closed at a record high as the benchmark’s postelection rally pressed forward. The 30-stock Dow gained 304 points, or 0.69%, to 44,293.69.
The third week in November will experience a gear-shift for market participants as US voters re-elected Donald J Trump on Tuesday Nov 5th which will push for a major re-allocation in assets for the forthcoming months.
There is no economic data of note expected Monday, but investors will be awaiting inflation readings due out later in the week. Ticketmaster parent Live Nation and food and facility service provider Aramark are among companies reporting earnings on Monday.
U.S. stock index futures rose in evening deals on Sunday with focus turning to upcoming inflation data and a slew of Federal Reserve speakers for more signals on whether Wall Street will extend its recent rally.
The FEDERAL RESERVE finally cut interest rates by 25 basis points to 4.50% – 4.75% on Thursday, as expected, noting that the labor market has generally eased, while Inflation is moving towards the 2% target and economic activity also continues to expand at a solid pace, as well as confirming that price pressures have made progress.
Stock markets on Wall Street hit record highs for the umpteenth time on Thursday (07/11/24), lifting equity markets around the world, while US Treasury yields fell after the Federal Reserve cut interest rates as investors weigh Donald Trump’s second term as the 47th US president.
Bitcoin hit their All-Time-High and the US Dollar posted its biggest daily surge in 4 years after DONALD TRUMP WAS ELECTED US PRESIDENT. The landslide victory of Trump, 78, hit long-term US Treasuries and revived the “Trump Trades”; rising yields anticipated that Trump would raise tariffs as he had promised, thereby increasing the US deficit and inflation and causing the Federal Reserve to cut interest rates less than it should.
The DJIA rocketed 1500 pts to a record high on Wednesday trading (06/11/24); major stock markets around the world surged, while Bitcoin hit their All-Time-High and the US Dollar posted its biggest daily surge in 4 years after DONALD TRUMP WAS ELECTED AS US PRESIDENT.
