{"id":48365,"date":"2024-11-08T15:01:32","date_gmt":"2024-11-08T15:01:32","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/"},"modified":"2024-11-08T15:01:32","modified_gmt":"2024-11-08T15:01:32","slug":"stock-market-today-indexes-hit-new-highs-as-fed-cuts-rates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/","title":{"rendered":"Stock Market Today: Indexes Hit New Highs as Fed Cuts Rates"},"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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Market_Performance_and_Fed_Decision\" >Market Performance and Fed Decision<\/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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Weekly_Market_Outlook\" >Weekly Market Outlook<\/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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Key_Factors_Driving_the_Market\" >Key Factors Driving the Market<\/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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Major_Stock_Movements_and_Corporate_News\" >Major Stock Movements and Corporate News<\/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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Economic_Indicators_and_Future_Outlook\" >Economic Indicators and Future Outlook<\/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-today-indexes-hit-new-highs-as-fed-cuts-rates\/48365\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_and_Fed_Decision\"><\/span>Market Performance and Fed Decision<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Friday, November 8, 2024, the U.S. stock market continued its post-election rally, with major indexes reaching new all-time highs. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> ($SPX) closed up 0.1%, while the Nasdaq Composite ($IUXX) saw a marginal decline. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average ($DOWI) outperformed, climbing 100 points or 0.2% .<\/p>\n<p>The market&#8217;s strong performance comes on the heels of the Federal Reserve&#8217;s decision to lower the federal funds target range by 25 basis points to 4.50%-4.75% from 4.75%-5.00% on Thursday . Fed Chair Powell stated that while inflation has moved closer to the Fed&#8217;s goal, core inflation remains &#8220;somewhat elevated&#8221; .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Weekly_Market_Outlook\"><\/span>Weekly Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>All three major averages are on track for impressive weekly gains:<\/p>\n<p>&#8211; The S&#038;P 500 is up about 4.4%<br \/>&#8211; The Dow Jones Industrial Average is higher by 4.2%<br \/>&#8211; The Nasdaq Composite is outperforming with a 5.7% advance<\/p>\n<p>These gains put the indexes on pace for their best week since November 2023 .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Factors_Driving_the_Market\"><\/span>Key Factors Driving the Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Post-Election Optimism:<\/b> The market rally is largely attributed to President-elect <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s victory, with investors anticipating corporate tax cuts and deregulation that could boost economic growth .<\/p>\n<p><b>Small Cap Performance:<\/b> The Russell 2000, representing small-cap stocks, has surged more than 7% for the week, reflecting expectations of domestic growth policies .<\/p>\n<p><b>Tech Sector Strength:<\/b> Technology stocks have been leading the charge, with the Nasdaq closing above 19,000 for the first time on Thursday .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_Movements_and_Corporate_News\"><\/span>Major Stock Movements and Corporate News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several companies have made significant moves in recent trading sessions:<\/p>\n<p>&#8211; <b>Warner Bros Discovery (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WBD\">WBD<\/a>)<\/b> closed up more than 11% after reporting better-than-expected Q3 subscriber numbers .<br \/>&#8211; <b>McKesson (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MCK\">MCK<\/a>)<\/b> rose over 10% following strong Q2 results and an improved full-year forecast .<br \/>&#8211; <b>Lyft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LYFT\">LYFT<\/a>)<\/b> surged more than 22% on robust Q3 bookings and an optimistic Q4 outlook .<br \/>&#8211; <b>Match Group (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MTCH\">MTCH<\/a>)<\/b> fell more than 17% due to disappointing Q3 revenue and weak Q4 guidance .<br \/>&#8211; <b>MercadoLibre (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MELI\">MELI<\/a>)<\/b> dropped over 16% after reporting lower-than-expected Q3 adjusted EBITDA .<\/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>Investors should keep an eye on these upcoming earnings reports scheduled for November 8, 2024:<\/p>\n<p>&#8211; Advanced Drainage Systems Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WMS\">WMS<\/a>)<br \/>&#8211; Baxter International Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BAX\">BAX<\/a>)<br \/>&#8211; CNH Industrial NV (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CNH\">CNH<\/a>)<br \/>&#8211; Dillard&#8217;s Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DDS\">DDS<\/a>)<br \/>&#8211; Flowers Foods Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=FLO\">FLO<\/a>)<br \/>&#8211; Fortrea Holdings Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=FTRE\">FTRE<\/a>)<br \/>&#8211; Lamar Advertising Co (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=LAMR\">LAMR<\/a>)<br \/>&#8211; NRG Energy Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NRG\">NRG<\/a>)<br \/>&#8211; Paramount Global (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PARA\">PARA<\/a>)<br \/>&#8211; RB Global Inc (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=RBA\">RBA<\/a>) <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Indicators_and_Future_Outlook\"><\/span>Economic Indicators and Future Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent economic data has been mixed:<\/p>\n<p>&#8211; Weekly jobless claims rose less than expected, indicating a strong labor market .<br \/>&#8211; Q3 nonfarm productivity increased by 2.2%, slightly below expectations .<br \/>&#8211; Q1 unit labor costs rose more than anticipated, potentially impacting inflation concerns .<\/p>\n<p>Looking ahead, market participants are closely monitoring the potential implementation of President-elect <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s policies, particularly regarding tariffs and immigration, which could affect inflation and GDP growth in 2025 and 2026 .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the stock market continues to reach new heights, investors remain optimistic about the potential for pro-growth policies under the incoming administration. However, challenges such as inflation concerns and geopolitical uncertainties persist. Traders and investors should stay vigilant and monitor upcoming economic data releases and corporate earnings reports for further market direction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Performance and Fed Decision On Friday, November 8, 2024, the U.S. stock market continued its post-election rally, with major 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