On Election Day, November 5, 2024, U.S. financial markets experienced notable gains.
On Election Day, November 5, 2024, U.S. financial markets experienced notable gains, reflecting investor optimism amid robust economic indicators and the anticipation of election outcomes.
Market Performance:
S&P 500: Increased by 1.2%, marking a 21% gain for the year—the best election-year performance since 1936.
The Wall Street Journal
Dow Jones Industrial Average: Rose by 1%, continuing its upward trajectory.
The Wall Street Journal
Nasdaq Composite: Advanced by 1.4%, driven by strong performances in the technology sector.
The Wall Street Journal
Economic Indicators:
U.S. Services Sector: The Institute for Supply Management (ISM) reported that the services PMI increased to 56.0 in October, the highest in over two years, indicating robust growth.
Reuters
Employment: A strong rebound in employment contributed significantly to the services sector's expansion, offsetting previous job growth slowdowns.
Reuters
Corporate Highlights:
Palantir Technologies: Shares surged by 23% following strong sales and optimistic revenue guidance, benefiting from high demand in artificial intelligence.
The Wall Street Journal
Celanese and Wynn Resorts: Both companies reported disappointing earnings, leading to declines in their stock prices.
STATE GAS DOWN TODAY IN THIS CHART,.
THINK ABOUT WHY GAS DOWN ON ELECTION DAY????
Investor Sentiment: