Tonight, the surge

Generated by AI AgentMarket Intel
Thursday, Nov 7, 2024 11:30 am ET1min read
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Brothers and sisters, please continue to pay attention to the performance of overseas markets tonight.

U.S. stocks rise

U.S. stocks continued to hit new highs tonight, with the Dow Jones Index slightly up, the Nasdaq Index up more than 1%, and the S&P 500 Index up about 0.5%.

Earlier, the market rebounded sharply after Trump won the presidential election. Traders are also waiting for the Fed's interest rate decision on Thursday afternoon.

Trump's victory in the White House battle inspired a sharp rise in the stock market, which set a record for the best post-election performance in history.

Scott Helfstein, head of investment strategy at Global X ETFs, said: "The election results have been announced, and the financial markets have relaxed a little because they no longer worry about the election process being delayed. Investors still need to be vigilant about overreaction or underreaction to geopolitical news. These events usually cause large fluctuations in asset prices, but the fundamentals will eventually take the lead in the long run."

Large technology stocks rose, with TSMC and Intel up about 4%, Apple and Nvidia up more than 1%.

Trump's media and technology group fell nearly 20%.

Markets will pay close attention to the Fed's interest rate decision and Chairman Jerome Powell's news conference on Thursday. According to the Fed Watch tool of CME Group, the current pricing in the currency market shows that the Fed is 100% likely to cut interest rates at this meeting.

Richard Flynn, managing director of the UK branch of The Vanguard Group, said: "It's hard to say whether policy will continue to ease in the next few months before the dust settles on the U.S. election and the impact of inflation and exchange rates becomes clearer. But in the short term, we expect today's announcement to provide some clarity for investors, especially after the events of the past two weeks that have been full of market volatility."

European stocks generally rose, with German stocks surging about 2% after German Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner on Wednesday evening, ending the three-party coalition government. Scholz announced that he would submit a vote of confidence to the German parliament on January 15 next year, which could lead to an early election.

After Wednesday's plunge, gold prices rebounded sharply on the night of November 7.

Chinese assets soar

Chinese stocks soared 3% tonight, and the FTSE China A50 Index futures rose 0.7%, and the yuan's exchange rate rose more than 500 points.

The FTSE China 3x Leveraged ETF soared nearly 15%.

On November 8,

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