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    • Dow, S&P 500 and Nasdaq rise with Trump’s election victory, the Fed in focus
    Frisco

    Dow, S&P 500 and Nasdaq rise with Trump’s election victory, the Fed in focus

    Bronwen Cerys Posted on

    U.S. stocks rose on Thursday, hoping for a return to the Trump rally, as investors gauged the next president’s likely impact on markets and awaited the Federal Reserve’s policy decision.

    The Dow Jones Industrial Average (^DJI) moved near the zero line, followed by a rise of 1,500 points, marking the blue-chip indicator’s best day since 2022. The S&P 500 (^GSPC) rose about 0.4%, while the tech-heavy Nasdaq Composite (^IXIC) rose 0.9%, while shares of chip heavyweight Nvidia (NVDA) hit new highs.

    Sentiment still appears to be high following Donald Trump’s victory in the presidential election, which catapulted all three major stock indicators to new record highs on Wednesday. His plans for corporate tax cuts and deregulation have fueled optimism about an economic stimulus that will impact stocks.

    However, some on Wall Street see signs of a recovery rally as Trump’s decisive victory also erased worries about a disputed vote. They suggest that stock gains could slow as the euphoria wears off.

    The Fed’s interest rate decision later on Thursday – normally a dominant event for markets – is taking a back seat given the election implications.

    For one thing, investors see a 25 basis point rate cut as a fairly safe bet at the end of policymakers’ two-day meeting. Instead, the focus is on what Chairman Jerome Powell might reveal about the future path of policy, especially as Trump’s return could cause interest rates to stay higher for longer.

    On the corporate front, shares of Arm Holdings (ARM) fell as the chip designer’s revenue forecast disappointed Wall Street’s hopes for stronger, AI-powered growth. In contrast, shares of rival Qualcomm (QCOM) rose more than 4% after its revenue and profit outlook beat estimates.

    Meanwhile, Trump Media & Technology Group (DJT) stock continued to recover from the big surge that followed the election results. Shares of the company – home of Trump’s social media platform Truth Social – fell double digits in early trading.

    LIVE 6 updates

    • Ines Ferré

      Nvidia and Amazon are expanding their profits and remaining at record highs

      Shares of AI chip heavyweight Nvidia (NVDA) and e-commerce giant Amazon (AMZN) each rose more than 1% on Thursday, extending gains from Wednesday’s monster rally following Donald Trump’s victory in the White House.

      Both stocks closed at all-time record highs on Wednesday.

      Earlier this week, Nvidia overtook iPhone maker Apple (AAPL) as the world’s largest company. The AI ​​chip maker is expected to enter the Dow Jones Industrial Average on Friday, replacing semiconductor giant Intel (INTC).

      Meanwhile, Amazon shares were on an upward trend after the company reported stronger-than-expected quarterly earnings last week. On Thursday, shares traded just above $210 each.

    • Laura Bratton

      Earnings Roundup: Moderna and WBD Stocks Rise on Q3 Results, Hershey Stock Falls

      Another group of companies reported earnings Thursday morning.

      Moderna (MRNA) rose 5% at market open as its earnings beat expectations, thanks in part to better-than-expected Covid vaccine sales. Warner Bros. (WBD) rose 10% thanks to streaming growth as Max subscribers surged. Meanwhile, Hershey (HSY) fell more than 1% after falling as much as 3% premarket as high cocoa prices hurt its sales outlook for the year.

      Here’s a closer look at the companies’ performance:

      Hershey: Adjusted earnings per share of $2.34 vs. $2.56 per share expected, revenue of $2.99 ​​billion vs. $3.07 billion expected

      Moderna: Earnings per share of $0.03 versus expected loss of $1.98 per share, revenue of $1.86 billion versus $1.25 billion expected

      Warner Bros.: Adjusted earnings per share of $0.05 vs. expected loss of $0.12 per share, revenue of $9.62 billion vs. $9.81 billion expected

      Meanwhile, energy companies were flat after posting mixed results as some of their businesses were hit by natural disasters. Duke Energy’s (DUK) profits were hit by hurricane costs, while Pacific Gas & Electric (PCG) suffered a loss in revenue after the company shut off power in Northern California due to fire risks. Nuclear energy provider Vistra rose 11% after a profit decline as it recovers from earlier losses.

    • Ines Ferré

      Stocks extend gains after Trump rally and ahead of Fed decision

      Stocks extended gains on Thursday following a huge rally following Donald Trump’s White House victory. The rise in stocks comes ahead of the Federal Reserve’s interest rate decision.

      The Dow Jones Industrial Average (^DJI) rose 0.1%, while the S&P 500 (^GSPC) gained about 0.3%. The tech-heavy Nasdaq Composite (^IXIC) rose 0.5% after all three major averages closed at record highs on Wednesday.

      As Yahoo Finance’s Jennifer Schonberger reports, the Federal Reserve is expected to cut interest rates by 25 basis points, avoiding unnecessary surprises after Trump is elected the next president.

      Meanwhile, parts of the “Trump trade” showed signs of some easing on Thursday as shares of Trump Media & Technology Group (DJT) fell double digits, erasing gains from the previous session.

    • Ines Ferré

      DJT stock falls, wiping out election-related gains

      Shares of Trump Media & Technology Group (DJT) fell double digits in premarket trading on Thursday, reversing Wednesday’s gains as Donald Trump cruised to victory over Kamala Harris in the presidential election.

      As Yahoo Finance’s Allie Canal reports, shares of the company — home of Trump’s social media platform Truth Social — have had a wild ride over the past week, with the ups and downs largely tied to Trump’s chances of retaking the stock market White House.

      The stock is down about 10% in the last five days, even though shares are up nearly 120% in the last month.

      Read more here.

    • Ines Ferré

      Weekly initial jobless claims rise to 221,000

      Initial jobless claims jumped to 221,000 last week, an increase of 3,000 from the previous week’s revised level, according to data released Thursday morning by the U.S. Labor Department.

      The previous week’s level was revised upwards by 2,000 from 216,000 to 218,000.

      Meanwhile, ongoing claims stood at 1,892,000, an increase of 39,000 from the previous week’s revised level.

    • Jenny McCall

      Good morning Here’s what’s happening today.

      Here’s a look at the big economic and market themes today as Wall Street braces for Donald Trump’s impending return to the White House. The Federal Reserve is expected to cut interest rates by 25 basis points today to ensure stability and avoid surprises following Trump’s election victory.

      Economic data: Fed interest rate decision; Initial Jobless Claims (Week Ending November 2)

      Earnings: Affirm (AFRM), Airbnb (ABNB), Block (SQ), Datadog (DDOG), DraftKings (DKNG), Halliburton (HAL), Hershey (HSY), Moderna (MRNA), Pinterest (PINS), Rivian (RIVN), The Trade Desk (TTD)

      Here are some of the biggest stories you may have missed overnight and this morning:

      The Fed is likely to cut interest rates as Powell seeks stability after Trump’s victory

      The rise in US bond yields is a warning to the “King of Debt” Trump

      How Elon Musk’s latest government bet paid off

      YF columnist Rick Newman: Americans want to return to a place that no longer exists

      DJT short sellers suffer a loss of $420 million

      How Elon Musk’s latest government bet paid off

      Moderna Stock Rises on Surprise Earnings Related to COVID Vaccine

      Bank of England cuts interest rate to 4.75%

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    Bronwen Cerys
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