People pass the New York Stock Exchange in New York’s Financial District on Tuesday, Nov. 5, 2024. The S&P 500 rallied 2.5% for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes topped records they had set in recent weeks. the White House, with Democrats scoring bigger average gains since 1945.
Of course, how much change Trump effects in his second term will likely depend on whether his fellow Republicans win control of Congress, and that’s Bank stocks led the market higher, in part on hopes that a stronger economy would mean more customers getting loans and paying them back with interest. They also rallied on hopes for lighter regulation from a Republican White House. JPMorgan Chase soared 11.
A drop-off in immigration could also mean a crunch of available workers for employers, which could force companies to raise wages for workers faster and put more upward pressure on inflation.heading back down to its 2% target The only stock with a bigger loss in the S&P 500 was Super Micro Computer, which said its sales for the latest quarter could come in below its prior forecast. Its stock sank 18.1%.
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