Dow rises 100 points as as traders assess state of postelection rally, new inflation data: Live updates

Traders enactment connected the New York Stock Exchange level connected November 12, 2024 successful New York City.

Source: NYSE

Dallas Federal Reserve President Lorie Logan urged caution connected argumentation successful a code Wednesday successful an situation wherever the longer-term involvement complaint trajectory could beryllium higher than normal.

Logan said she mostly sees ostentation heading little and the labour marketplace easing but stable. Yet she said determination are risks to the Fed's policymaking "voyage" that request to beryllium considered, successful which ostentation could clasp supra the Fed's 2% target.

"I expect the [Federal Open Market Committee] volition astir apt request much complaint cuts to decorativeness the journey. But it's hard to beryllium definite however galore cuts whitethorn beryllium needed and however soon they whitethorn request to happen," she said during an quality successful her location district.

If the Fed cuts rates past the "neutral" level that neither boosts nor restricts growth, "inflation could reaccelerate and the FOMC could request to reverse direction. In these uncertain but perchance precise shallow waters, I judge it's champion to proceed with caution," said Logan who volition not person a ballot connected the FOMC until 2026.

—Jeff Cox

The dollar scale roseate 0.4% Wednesday to 106.50, its strongest level since April 16, erstwhile it reached 106.517.

Meanwhile, the euro fell 0.6% against the dollar to 1.0569. This marketplace the euro's lowest constituent against the greenback since Nov. 2, 2023, erstwhile it traded arsenic debased arsenic 1.0564.

— Hakyung Kim

Small-cap benchmark Russell 2000 jumped astir 1% Wednesday, resuming its postelection rally aft a intermission successful the erstwhile session.

Small companies, which are much domestic-oriented and cyclical, are seen arsenic beneficiaries from President-elect Donald Trump's taxation cuts and protectionist policies.

The scale rallied 8.6% past week and it fell 1.8% Tuesday aft a fig of beardown days.

Russell 2000

Bitcoin twelvemonth to date

Stocks were astir level soon aft the opening doorbell connected Wednesday, arsenic investors weighed caller ostentation information and however overmuch cardio the postelection rally has left.

The S&P 500 ticked up 0.1%, portion the Nasdaq Composite added 0.09%. The Dow Jones Industrial Average precocious 22 points, oregon 0.09%.

— Brian Evans

Consumer prices roseate somewhat successful October, though the summation was successful enactment with expectations.

The user terms scale gained 0.2% period implicit period and 2.6% from the year-earlier period, arsenic expected. Excluding nutrient and energy, CPI roseate 0.3% period implicit month, besides matching Dow Jones estimates.

— Fred Imbert

Apple could spot gains adjacent twelvemonth successful the aftermath of last month's merchandise of Apple Intelligence, according to Evercore ISI.

Analyst Amit Daryanani named Apple arsenic 1 of its apical 5 ideas for 2025, saying that the interaction of AI connected iPhone income could spell semipermanent upside. Notably, the expert said it could scope a banal terms of $300.

"We proceed to deliberation this volition beryllium a long-tailed upgrade rhythm with iPhone maturation improving arsenic much AI features are added and spot volition apt prolong into the iPhone 17 cycle," helium told clients successful a Wednesday note.

"Beyond AI, we proceed to expect coagulated maturation retired of Services (low teens) and Wearables (HSD) successful FY25 on with continued spot successful margins," Daryanani continued. "This maturation coupled with steadily accelerating iPhone y/y maturation should alteration Apple banal to enactment higher arsenic we spell done 2025."

While shares person fallen much than 1% successful the past 1 month, they've risen much than 16% this year.

— Sean Conlon

Starbucks whitethorn beryllium facing immoderate pullback from here, according to Redburn Atlantic.

Shares slumped much than 1% successful the premarket aft expert Edward Lewis downgraded shares of the coffeehouse concatenation to sell. His updated terms people implies astir 22% downside from Tuesday's close.

While the expert believes CEO Brian Niccol's "Back to Starbucks" plan volition spur growth, helium inactive sees challenges up successful its way to recovery. This besides comes aft the institution posted disappointing fiscal fourth-quarter results.

"There is merit successful the program and we bash exemplary a instrumentality to affirmative comps successful FY25," helium said successful a Wednesday note. "However, arsenic has been the lawsuit astatine Starbucks of late, the betterment volition travel astatine a outgo not adequately reflected successful consensus, successful our view."

Shares person risen astir 3% this twelvemonth and much than 3% successful the past 1 month.

— Sean Conlon

European stocks traded astir the flatline Wednesday, with planetary markets focused connected upcoming U.S. ostentation data.

Shares of Just Eat Takeaway stock soared 20% soon aft the unfastened Wednesday aft the institution said it had struck a woody to merchantability its U.S. portion Grubhub to Wonder for $650 million. Siemens Energy was besides a champion performer connected the index, its shares rocketing 19.1% Wednesday greeting aft the German vigor institution upgraded its mid-term fiscal targets.

Shares of ABN Amro traded 1% little aft the Dutch lender posted a 9% autumn successful quarterly nett profit, compared to a twelvemonth earlier. Shares of Allianz were up 1.1% aft the fiscal services radical bushed expectations with a 22% emergence successful third-quarter nett profit.

Read the European markets blog here

— Holly Ellyatt

Check retired the companies making headlines successful extended trading.

Spotify Technology – Shares of the music-streaming work jumped astir 8%. Total monthly progressive users for the 3rd quarter came successful astatine 640 million, reflecting an 11% leap from a twelvemonth earlier and beating FactSet statement estimates of 639.0 million. Still, Spotify fell abbreviated of the Street's expectations connected the apical and bottommost lines successful the period.

Skyworks Solutions — The semiconductor institution slipped astir 2% aft posting an net bushed successful the fiscal 4th quarter. Skyworks reported adjusted net of $1.55 per share, portion analysts polled by LSEG had forecast $1.52 per share. Revenues of $1.02 cardinal came successful enactment with estimates. Meanwhile, the company's guardant guidance for the archetypal 4th came successful lighter than expectations. 

Cava — The fast-casual concatenation popped 14% aft reporting a top- and bottom-line bushed successful the 3rd quarter. Cava announced net of 15 cents per stock connected revenues of $244 million. Meanwhile, analysts had forecast net of 11 cents per stock and $234 cardinal successful revenues, per LSEG. 

The afloat database tin beryllium recovered here.

— Hakyung Kim

U.S. banal futures were small changed Tuesday night.

Futures tied to the Dow Jones Industrial Average fell conscionable 16 points, oregon 0.04%. S&P 500 futures and Nasdaq 100 futures ticked down 0.05% and 0.09%, respectively.

— Hakyung Kim

Correction: An earlier mentation of this blog station misstated the time of the week.