Wall Street Pauses: Stock Futures Show Minimal Movement After Post-Election Rally

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ICARO Media Group
Politics
10/11/2024 23h32

**Stock Futures Steady as Wall Street Looks for Next Moves Post-Election Rally**

Stock futures showed minimal movement on Sunday night, as Wall Street strategists assess the aftermath of a significant post-election surge that boosted the market to unprecedented levels. The Dow Jones Industrial Average futures saw a minor increase, adding 19 points, barely nudging past breakeven. Similarly, S&P 500 futures remained mostly unchanged, while Nasdaq 100 futures experienced a modest rise of 0.2%.

The previous week marked a historic period for U.S. stocks, with the Dow, S&P 500, and Nasdaq Composite all closing at record highs. The Dow and S&P 500 recorded their most robust weekly performances in nearly a year, with the Dow surpassing the 44,000 mark for the first time. The market's advance was comprehensive, including gains in the technology-centric Nasdaq Composite and the small-cap focused Russell 2000.

A significant portion of the week's gains was concentrated on Wednesday, following a 1,500-point rally in the Dow after the presidential election results were announced, favoring Donald Trump. Another key event was Thursday's Federal Reserve policy announcement, which included a decision to lower interest rates, followed by a press conference held by Chair Jerome Powell. "Investors hate uncertainty, and, with the election decided, markets now have clarity, and are able to lay fears of a contested election to rest," wrote Northern Trust's investment chief Katie Nixon in a correspondence to clients.

No major economic reports are expected on Monday, but the market will be on alert for inflation figures to be released later in the week. Investors will also be watching earnings reports from companies like Live Nation and Aramark. The positive momentum from last week continues, with the Dow and S&P 500 each appreciating over 4%, marking their best week since November 2023. The Nasdaq Composite saw even more impressive gains, jumping over 5%, and all three indexes finished Friday at record closing highs. Meanwhile, the Russell 2000 surged by over 8%.

S&P 500 futures remained near flat shortly after 6 p.m. ET on Sunday, with Dow futures showing little change and Nasdaq 100 futures up by 0.2%. With the election results settled, market participants are now turning their attention to economic and corporate fundamentals for future direction.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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