Wall Street extends rally from Trump victory, Fed decision awaited
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Major indexes at fresh record highs
US weekly jobless claims rise moderately
Small-caps edge lower, financials fall
Fed likely to cut rates by 25 bps
Indexes: Dow down 0.04%, S&P 500 up 0.61%, Nasdaq up 1.30%
Updated at 11:40 a.m. ET/1640 GMT
By Lisa Pauline Mattackal and Ankika Biswas
Nov 7 (Reuters) -Wall Street's main indexes added to their gains on Thursday in the run-up to the Federal Reserve's interest-rate decision, extending a sharp rally sparked by Donald Trump's stunning comeback as U.S. president for a second time.
Traders have about fully priced in a 25-basis-point rate cut, but will keep a close watch on the central bank's commentary for clues on the future path of monetary easing.
Investor expectations that Trump would lower corporate taxes and loosen regulations had lifted all three major indexes in the previous session.
Adam Turnquist, Chief Technical Strategist for LPL Financial said it was the S&P 500's best post-Election Day performance on record.
On Thursday too, all the three major indexes were trading near record highs, but going ahead much would depend on the central bank's rate-cut outlook.
Traders have trimmed their bets to just two rate cuts in 2025 on consistently robust economic data and after accounting for the chances of higher inflation stemming from Trump's proposed tariffs and government spending.
"(The election) could slow the Fed's cutting speed next year, I still think you cut today and in December by 25 basis points, and as you go into next year it turns into quarterly cuts," said Frank Rybinski, head of macro strategy at Aegon Asset Management.
"But at the end of the day, the pendulum is shifting towards lower rates."
Treasury yields are hovering near multi-month highs, though the benchmark 10-year yield US10YT=RR eased slightly. US/
Meanwhile, some of the Trump trades that surged after his sweeping victory gave back gains, with Trump Media & Technology DJT.O dropping 20%.
After hitting a record high on Wednesday, Financials .SPSY lost 1.4%, led by a 4.3% slide in JPMorgan Chase JPM.N, which also weighed on the Dow.
The small cap Russell 2000 .RUT slipped 0.1% in choppy trading, but was still at aroundthree-year highs it touched in the last session.
Communication Services sector.SPLRCL rose 1.6.%,while rate-sensitive industrials .SPLRCI edged lower and energy .SPNY lost 1%.
The Dow Jones Industrial Average .DJI fell 16.65 points, or 0.04%, to 43,713.28, the S&P 500 .SPX gained 36.38 points, or 0.61%, to 5,965.42 and the Nasdaq Composite .IXIC gained 247.11 points, or 1.30%, to 19,230.57.
Data showed U.S. weekly jobless claims rose marginally last week, suggesting no material change in labor market conditions.
Focus is also on whether Republicans could win control of both houses of Congress, making it easier for Trump's policies to be enacted.
U.S.-listed shares of chip designer Arm Holdings ARM.O rose 6%, reversing early lossesas its quarterly forecasts disappointed investors.
Warner Bros Discovery WBD.O soared 10.5%after a surprise third-quarter profit.
The VIX .VIX, Wall Street's "fear gauge," was trading at a six-week low.
Advancing issues outnumbered decliners by a 1.84-to-1 ratio on the NYSE and a 1.33-to-1 ratio on the Nasdaq.
The S&P 500 posted 45 new 52-week highs and three new lows while the Nasdaq Composite recorded 156 new highs and 59 new lows.
S&P 500 in the 5 days after presidential election https://tmsnrt.rs/4hk2wgw
Reporting by Lisa Mattackal and Ankika Biswas in Bengaluru; Editing by Arun Koyyur
Aloqador aktivlar
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
