S&P 500, Nasdaq set to extend gains from Trump-fueled rally, Fed decision on tap
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
S&P 500 futures at record highs
US weekly jobless claims increase moderately
Futures: Dow flat, S&P 500 up 0.17%, Nasdaq up 0.37%
Updated at 8:45 a.m. ET/ 1345 GMT
By Lisa Pauline Mattackal and Ankika Biswas
Nov 7 (Reuters) -The S&P 500 and the Nasdaq were set to open higher in the run-up to an interest-rate decision from the Federal Reserve on Thursday, 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 in the previous session lifted all three major indexes to a record high.
The Dow .DJI and S&P 500 .SPX notched their biggest one-day rise since November 2022, while the Nasdaq logged its best day since February.
Dow E-minis 1YMcv1 were down 13 points, or 0.03%, S&P 500 E-minis EScv1 were up 10.25 points, or 0.17%, and Nasdaq 100 E-minis NQcv1 were up 78.25 points, or 0.37%.
Futures tracking the Russell 2000 RTYcv1 slipped 0.2%, after the small-cap index also logged its best one-day gain in nearly two years.
Meanwhile, data showed U.S. weekly jobless claims rose marginally last week, suggesting no material change in labor market conditions.
Initial claims for state unemployment benefits increased to 221,000 for the week ended Nov. 2, in line with economists' expectations polled by Reuters.
Traders have trimmed their bets to just two rate cuts in 2025 on consistently robust economic data, while also taking into account the chances of higher inflation stemming from Trump's proposed tariffs and government spending.
"The Fed's commentary about the rate-cut outlook will be particularly important for markets, given the recent post-election surge in bond yields, which undoubtedly complicates the Fed's efforts to move to a less restrictive policy stance," said Glen Smith, chief investment officer, GDS Wealth Management.
"The Fed may pause its pace of rate cuts in December and throughout much of 2025 as inflation slows and the economy continues to remain strong."
Focus is also on whether Republicans could win control of both houses of Congress, making it easier for Trump's policies to be enacted.
Meanwhile, rate-sensitive equities are facing some pressure as Treasury yields hovered around multi-month highs after Trump's win. MKTS/GLOB
Stocks that surged after his sweeping victory gave back gains in premarket trade, with Trump Media & Technology DJT.O losing 14%.
Qualcomm shares QCOM.O jumped 5.6% after the chipmaker forecast current-quarter results above estimates, while U.S.-listed shares of chip designer Arm Holdings ARM.O fell 3% as its quarterly forecasts disappointed investors.
Vaccine maker Moderna MRNA.O gained 7.5% after reporting a surprise third-quarter profit on higher COVID-19 vaccine sales.
Warner Bros Discovery WBD.O climbed 5% after a surprise third-quarter profit, while Ralph Lauren RL.N rose 8.2% after raising its annual sales forecast.
The VIX .VIX, Wall Street's "fear gauge," was trading at a six-week low.
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
Aset Berkaitan
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
