S&P 500 and Dow Jones hit new highs on optimism over Trump's Treasury Secretary pick

From Nasdaq: 2024-11-25 13:31:41

The S&P 500, Dow Jones, and Nasdaq are all up today, hitting new highs. Optimism over Trump’s pick for Treasury Secretary, Scott Bessent, is driving the market. Energy and tech stocks are down, with WTI crude and Nvidia falling. US economic reports show mixed results, with the Chicago Fed index down and Dallas Fed survey up less than expected.

Overseas markets are mixed, with the Euro Stoxx 50 up and Shanghai Composite down. Interest rates are lower, with T-notes rallying after Bessent’s nomination. European bonds are down, with Germany and UK yields falling. ECB member Kazaks hints at a rate cut in December.

US stock movers include homebuilders rallying on lower T-note yields, Super Micro Computer surging, and Moderna up after vaccine news. Healthcare stocks climb after a ruling benefiting UnitedHealth Group. Bath & Body Works reports strong sales, while Brown-Forman and EQT Corp see gains. Nvidia and defense stocks like Lockheed Martin are down on news of a potential cease-fire.

Energy stocks slide on lower crude prices, impacting companies like ConocoPhillips and Diamondback Energy. Macy’s delays earnings release, while Newmont and Despegar.com see declines. Earnings reports for various companies are expected on 11/25/2024.



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