Stocks To Watch – 11/11/2024

Brief Overview

Welcome back to this week’s Stocks to Watch! The people have spoken and the U.S. Presidential election is in the books and the markets are reacting quite favorably to the outcome, with Nasdaq, Dow and S&P 500 hitting all time highs!🇺🇸

With Trump on the road to the Whitehouse joined by Elon  we will have all Crypto names (DOGE, MSTR, COIN, MARA, RIOT, WULF, HUT & more) on close watch with BTC at all time highs. We will likely be highlighting crypto names with members in the Discord this week as setups emerge.

Markets were cautious ahead of Election Day, with stocks closing mixed. Big-name retailers released earnings, Nvidia reclaimed its spot as the most valuable U.S. company.

The market turned positive as investors watched U.S. election results closely. Super Micro faced a drop due to lack of clarity in its reporting, while earnings continued to influence stock-specific moves. Traders sought protection as uncertainty loomed.

A clear Trump victory sparked optimism in markets, particularly for energy and finance sectors, both of which could see policy benefits. Investors anticipated a continuation of current economic policies, prompting a surge in risk assets. Weekly mortgage applications data showed slight increases, reflecting a still-active housing market.

Fed Chair Powell announced a 25-basis-point rate cut, marking a move to address persistent inflation concerns. The decision underscored the Fed’s commitment to managing economic growth amid global uncertainties. Labor market figures were strong, reinforcing confidence in continued economic resilience, even as Powell faced scrutiny over inflationary pressures.

The week closed on a high note with a robust jobs report showing steady employment growth. Unemployment held at historic lows, signaling a resilient labor market. The positive report fueled optimism across sectors, with businesses showing confidence in future hiring and investment plans. However, concerns about future trade policies resurfaced, hinting at potential hurdles for consumers and companies.