Traders enactment astatine the New York Stock Exchange (NYSE), Friday, November 8, 2024.
Source: NYSE
Stock futures are adjacent level Monday nighttime arsenic Wall Street continued analyzing which sectors to determination wealth into amid a postelection rally that's sent equities to grounds levels.
Futures tied to the Dow Jones Industrial Average mislaid 37 points, oregon 0.1%. S&P 500 and Nasdaq 100 futures each besides ticked down astir 0.1% each.
Monday's enactment comes amid a marketplace upswing that began pursuing past week's statesmanlike predetermination won by Donald Trump. The Dow gained much than 300 points to adjacent higher than 44,000, portion the S&P 500 finished the league conscionable implicit 6,000. With that, Monday marks the first time either finished a trading time supra those respective levels.
The Nasdaq Composite inched higher successful the session, finishing astatine an all-time closing precocious for its 4th time successful a row. Meanwhile, the tiny cap-focused Russell 2000 surged 1.5%.
Beyond stocks, bitcoin soared to record levels supra $89,000 on Monday.
"The marketplace is looking astatine the statesmanlike predetermination and immoderate policies they deliberation are going to beryllium enactment successful place," said Larry Tentarelli, laminitis of the Blue Chip Daily Trend Report. "It's a batch of what we saw backmost successful 2016 erstwhile Trump won the predetermination the archetypal time."
Investors volition ticker Tuesday for economical information connected tiny businesses owed successful the morning. They'll besides show commentary from Federal Reserve officials including Fed Governor Christopher Waller and Minneapolis Fed President Neel Kashkari scheduled passim the day.
Market participants volition past crook attraction to user and shaper terms scale readings scheduled for aboriginal successful the week. The merchandise of information from these ostentation gauges comes aft the Fed past week announced another involvement complaint cut.
Traders volition besides parse net releases from Home Depot and Shopify expected connected Tuesday.
Small caps proceed to rally
Small-cap stocks extended gains connected Monday arsenic investors spot these companies benefiting from President-elect Donald Trump's penchant for deregulation.
The tiny cap-focused Russell 2000 jumped 1.5% successful Monday's session. By comparison, the wide S&P 500 finished conscionable marginally supra its flatline.
The Russell 2000 vs. S&P 500, 1-day
With Monday's rally, the Russell 2000 is present up astir 9.7% from 1 week ago. That means it has outperformed the S&P 500, which has added conscionable astir 5% successful this timeframe.
— Alex Harring
Stocks determination aft hours
These are immoderate of the stocks making moves successful extended trading:
- Live Nation Entertainment — The Ticketmaster genitor popped 6.2% aft posting net of $1.66 per stock for the 3rd quarter, topping the statement estimation of $1.59 from analysts polled by LSEG. However, Live Nation saw $7.65 cardinal successful revenue, little than the $7.75 cardinal fig anticipated by Wall Street.
- Zeta Global — The unreality banal tumbled 7.3% aft announcing better-than-expected gross for the 3rd 4th and issuing beardown guidance for the measure. Revenue successful the three-month play came successful astatine $268.3 million, supra the $252.7 cardinal prediction from analysts surveyed by FactSet.
- IAC, Angi — Holding institution IAC said Monday that it's considering a spinoff of location betterment work level Angi. IAC shares added 2.9%, portion Angi shares dropped 7.6%.
— Alex Harring
Stock futures are adjacent flat
Stock futures tied to the Dow, S&P 500 and Nasdaq 100 were each small changed soon aft 6 p.m. ET. That comes aft the 3 large indexes finished Monday's trading league astatine grounds closing levels.
— Alex Harring
English (US)