{"id":48368,"date":"2024-11-08T19:28:27","date_gmt":"2024-11-08T19:28:27","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-cruises-towards-best-week-in-a-year\/48368\/"},"modified":"2024-11-08T19:28:27","modified_gmt":"2024-11-08T19:28:27","slug":"stock-market-recap-wall-street-cruises-towards-best-week-in-a-year","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-cruises-towards-best-week-in-a-year\/48368\/","title":{"rendered":"Stock Market Recap: Wall Street Cruises Towards Best Week in a Year"},"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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Major_Indexes_Hit_New_Records_as_Markets_Digest_Trump_Victory_and_Fed_Rate_Cut\" >Major Indexes Hit New Records as Markets Digest Trump Victory and Fed Rate Cut<\/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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Current_Market_Performance\" >Current Market Performance<\/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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#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-recap-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Notable_Stock_Movements\" >Notable Stock Movements<\/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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Global_Market_Influences\" >Global Market Influences<\/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-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Bond_Market_and_Inflation_Expectations\" >Bond Market and Inflation Expectations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-cruises-towards-best-week-in-a-year\/48368\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Hit_New_Records_as_Markets_Digest_Trump_Victory_and_Fed_Rate_Cut\"><\/span>Major Indexes Hit New Records as Markets Digest Trump Victory and Fed Rate Cut<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of Friday, November 8, 2024, the U.S. stock market is poised to close out its best week in a year, with major indexes reaching new milestones. This remarkable performance comes in the wake of Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s presidential election victory and the Federal Reserve&#8217;s latest interest rate cut.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Market_Performance\"><\/span>Current Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of 10:20 a.m. Eastern time:<\/p>\n<p>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC)<\/b> rose 0.3%, touching the 6,000 mark for the first time in history. The index is on track for a weekly gain of about 4.4%.<br \/>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b> climbed 190 points, or 0.4%, crossing the 44,000 threshold for the first time. It&#8217;s up 4.2% for the week.<br \/>&#8211; The <b>Nasdaq Composite (^IXIC)<\/b> remained virtually unchanged but is still outperforming with a 5.7% advance for the week.<\/p>\n<p>These gains put all three major averages on pace for their strongest weekly performance 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>1. <b><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s Election Victory:<\/b> The market has responded positively to President-elect Donald Trump&#8217;s win, with investors betting on his proposed policies to boost economic growth .<\/p>\n<p>2. <b>Federal Reserve Rate Cut:<\/b> The Fed&#8217;s decision to cut interest rates again has further fueled market optimism, making borrowing easier for businesses and consumers .<\/p>\n<p>3. <b>Strong Economic Indicators:<\/b> A preliminary report suggests that consumer sentiment in the U.S. has risen for the fourth consecutive month, reaching its highest level in six months .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Axon Enterprise (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AXON\">AXON<\/a>)<\/b> jumped 15.3% after reporting stronger-than-expected quarterly profits and raising its full-year revenue forecast to $2.07 billion .<br \/>&#8211; <b>Expedia Group (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=EXPE\">EXPE<\/a>)<\/b> rose 7.9% following better-than-anticipated profit results and a 9% increase in booked room nights .<br \/>&#8211; <b>Airbnb (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ABNB\">ABNB<\/a>)<\/b> sank 9.2% after issuing disappointing fourth-quarter forecasts .<br \/>&#8211; <b>Pinterest (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PINS\">PINS<\/a>)<\/b> slid 14% due to lower-than-expected revenue guidance .<br \/>&#8211; <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b> saw its market cap hit $1 trillion as shares soared up to 7% .<br \/>&#8211; <b>Trump Media &#038; Technology Group (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DJT\">DJT<\/a>)<\/b> leaped 10% after Trump announced he would not sell his shares in the company .<\/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>While specific upcoming events were not detailed in the search results, investors should keep an eye on:<\/p>\n<p>1. Further policy announcements from the Trump administration<br \/>2. Upcoming earnings releases from major companies<br \/>3. Economic data announcements that could impact market sentiment<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Chinese Fiscal Stimulus:<\/b> Beijing announced a 6 trillion yuan ($839 billion) three-year plan to help local governments refinance debt. However, this fell short of investor expectations, putting pressure on Chinese stocks and oil prices .<\/p>\n<p>&#8211; <b>European Markets:<\/b> European indexes were mostly lower and on track for a losing week, partly due to concerns about potential trade tensions arising from Trump&#8217;s tariff talks .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bond_Market_and_Inflation_Expectations\"><\/span>Bond Market and Inflation Expectations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The yield on the 10-year Treasury fell to 4.26% from 4.33%, reflecting easing inflation expectations. A University of Michigan survey indicated that expectations for inflation in the coming year have dropped to their lowest level since 2020 .<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market digests the recent political changes and monetary policy decisions, analysts caution that the sustainability of these gains remains to be seen. The &#8220;Trump trade&#8221; has particularly benefited U.S. banks and domestically focused companies, but potential volatility may occur as campaign promises transition into actual policies .<\/p>\n<p>Investors should remain vigilant and prepared for potential market adjustments as the new administration&#8217;s economic policies take shape in the coming weeks and months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Hit New Records as Markets Digest Trump Victory and Fed Rate Cut As of Friday, November 8, 2024, 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