Indices
- Dow 43,988, +1,936or +4.60%,(new closing high).
- Nasdaq 19,286, +1,047 or +5.74%,(new closing high).
- S&P 5,995, +267or +4.66%,(new closing high).
- MSCI EAFE 2336.76, +0.57or +0.02%.
- USD10Y 4.361%,-5.5bp or -1.26%.
- WTI Crude $70.38 bbl, +$1.05or +1.51%.
Election Decided, Markets Soar
The American public re-elected Donald Trump for a second four-year term on Tuesday and the markets, ecstatic with a declared winner as well as the prospects of lower corporate taxes and fewer regulations, soared, setting multiple record highs throughout the week.
The Upcoming Week: Nov 11 – Nov 15
This week calms down considerably after last week’s craziness. More inflation data is due with the publication of October retail and wholesale prices (CPI and PPI respectively). New York manufacturing data will be in focus on Friday as well as U.S. Retail sales for the month of October.
Third quarter earnings reports are slowing but will continue with Wall Street’s focus on Home Depot (HD), Walt Disney (DIS) and Applied Materials (AMAT).
Economic Calendar
- Monday – Bond Market Closed in Observance of Veteran’s Day.Earnings: N/A.
- Tuesday – N/A.Earnings: Home Depot (HD).
- Wednesday – October Consumer Price Index (CPI). Earnings: Cisco Systems (CSCO).
- Thursday – Initial Jobless Claims, October Producer Price Index (PPI). Earnings: Walt Disney Co (DIS), Applied Materials (AMAT).
- Friday – November Empire State Manufacturing Survey, October U.S. Retail Sales. Earnings: N/A.
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Disclaimer: This is not a recommendation to buy or sell any of the securities listed above. I personally, or a family member whose account I control, have positions in the following securities/assets...Bitcoin, Ethereum, Solana, ACHR, BITB, NVDA, and RIVN.
Disclaimer: This is not a recommendation to buy or sell any of the securities listed above. I personally, or a family member whose account I control, have positions in the following securities/assets...Bitcoin, Ethereum, Solana, ACHR, BITB, NVDA, and RIVN.