Stocks slip on Thursday as postelection rally shows signs of fizzling: Live updates

📆 14/11/2024 2:22 p. m.
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U.S. stocks pulled back Thursday, as investors tried to recapture the postelection momentum that lifted the major averages to record highs.

The initial rally for freight stocks after President-elect Donald Trump's victory last week may have priced in a near best-case scenario for the group, according to Evercore ISI.

'Although we believe a pull forward demand boost will likely occur in 1H25 and that the downturn is officially over, there will not be another tax catalyst like in 2018, imports aren't nearly as important as industrial manufacturing to freight demand, and the re-rating of much of the group has already occurred, rendering not much more to play for in the equities,' analyst Jonathan Chappell said in a note to clients.

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