{"id":48336,"date":"2024-11-04T19:28:35","date_gmt":"2024-11-04T19:28:35","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/"},"modified":"2024-11-04T19:28:35","modified_gmt":"2024-11-04T19:28:35","slug":"stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/","title":{"rendered":"Stock Market Recap: Election Eve Jitters and Fed Watch &#8211; November 4, 2024"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Market_Performance_Overview\" >Market Performance Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Election_Uncertainty_Weighs_on_Markets\" >Election Uncertainty Weighs on Markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Federal_Reserve_Meeting_in_Focus\" >Federal Reserve Meeting in Focus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Key_Stock_Movements_and_Sector_Performance\" >Key Stock Movements and Sector Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Upcoming_Market_Events\" >Upcoming Market Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Economic_Indicators_and_Global_Factors\" >Economic Indicators and Global Factors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-election-eve-jitters-and-fed-watch-november-4-2024\/48336\/#Market_Outlook\" >Market Outlook<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Overview\"><\/span>Market Performance Overview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Monday, November 4, 2024, U.S. stock markets experienced a day of choppy trading as investors braced for a pivotal week dominated by the presidential election and the Federal Reserve&#8217;s policy decision. The major indexes struggled to find direction, reflecting the uncertainty surrounding these key events.<\/p>\n<p>The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SPX\">SPX<\/a>)<\/b> edged up slightly by 0.1%, hovering near its recent record levels. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DJI\">DJI<\/a>)<\/b> fell 0.3% or 144 points to 41,654.14, while the <b>Nasdaq Composite (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=IXIC\">IXIC<\/a>)<\/b> managed a modest gain of 0.3%, closing at 18,165.94 .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Election_Uncertainty_Weighs_on_Markets\"><\/span>Election Uncertainty Weighs on Markets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The tightly contested presidential election between Democratic candidate Kamala Harris and Republican Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> is creating significant market uncertainty. Recent polls showing Harris leading in Iowa have triggered volatility in various asset classes, including a retreat in the dollar, bond yields, and bitcoin .<\/p>\n<p>Adam Turnquist, chief technical strategist for LPL Financial, commented, &#8220;It&#8217;s a bit of calm before the storm this week&#8230; The playbooks of the 2016 and 2020 elections might be thrown out the window&#8221; . This sentiment is reflected in the <b>CBOE Volatility Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VIX\">VIX<\/a>)<\/b>, which is trading at 22.54, well above its 30-day moving average of 19.45 .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_Meeting_in_Focus\"><\/span>Federal Reserve Meeting in Focus<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are also closely watching the Federal Reserve&#8217;s two-day policy meeting scheduled for later this week. Market participants are largely anticipating a 25 basis point interest rate cut, which would mark the second consecutive reduction . This expectation has contributed to the recent stock market rally and record-setting performances.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Stock_Movements_and_Sector_Performance\"><\/span>Key Stock Movements and Sector Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several notable stocks made significant moves on Monday:<\/p>\n<p>1. <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b>: Rose 2.5% following the announcement of its inclusion in the Dow Jones Industrial Average .<br \/>2. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: Dropped 1.8% due to declining China-made vehicle sales in October .<br \/>3. <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b>: Although not specifically mentioned for November 4, it had jumped 6.2% the previous Friday after beating earnings expectations .<br \/>4. <b>Marriott International (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MAR\">MAR<\/a>)<\/b>: Fell 2% after cutting its 2024 profit forecast due to weak domestic travel demand in the U.S. and China .<br \/>5. <b>Constellation Energy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CEG\">CEG<\/a>)<\/b>: Slumped 11.1%, becoming the biggest loser on the S&#038;P 500 following its earnings report .<\/p>\n<p>Sector-wise, energy stocks showed strength, with the <b>Energy Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLE\">XLE<\/a>)<\/b> rising 1.4% as oil prices increased following OPEC+&#8217;s decision to delay output increases .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. <b>U.S. Presidential Election (November 5, 2024)<\/b>: The outcome may not be immediately clear, potentially leading to extended market volatility .<br \/>2. <b>Federal Reserve Policy Decision (Expected November 7, 2024)<\/b>: Markets anticipate a 25 basis point rate cut .<br \/>3. <b>China&#8217;s National People&#8217;s Congress Standing Committee Meeting<\/b>: Analysts predict potential endorsement of major spending initiatives to boost economic growth .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Global_Factors\"><\/span>Economic Indicators and Global Factors<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent economic data has shown mixed signals. The U.S. economy added only 12,000 jobs in October, significantly below expectations, marking the weakest job creation since December 2020. However, the unemployment rate remained steady at 4.1% .<\/p>\n<p>Oil prices saw an uptick, with <b>Brent crude<\/b> rising 1.7% to $74.36 per barrel, although it remains down for the year due to concerns about Chinese demand .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we enter this crucial week, market participants are cautiously optimistic but prepared for potential volatility. The combination of election uncertainty, anticipated Fed action, and ongoing global economic challenges is likely to keep investors on their toes.<\/p>\n<p>Investors are advised to stay informed and maintain a balanced portfolio approach as these significant events unfold. The market&#8217;s reaction in the coming days could set the tone for the remainder of the year and potentially impact long-term economic policies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance Overview On Monday, November 4, 2024, U.S. stock markets experienced a day of choppy trading as investors braced 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