Market Climbs for Election Day Excitement | Live Stock
Good morning, traders. Happy Tuesday, November 5th, ELECTION DAY. The electricity in the air is palpable here on the bank of the Hudson River as millions of Americans head to the polls to cast their vote. The market awaits with bated breath for tonight, when polls close, and the country begins to see which way voters have decided to go for their next four years.
My name is Kevin Travers; here is the news and animal spirits moving markets today.
$Palantir (PLTR.US)$ stock climbed 21%, the highest on the S&P 500, after the firm released earnings Monday night that showed revenue grew 30% in the past year to $726M.
$Celanese Corp (CE.US)$ stock fell 24% after the industrial materials firm reported earnings came in at $116 million, or $1.06 per share, below estimates of $2.69/share. Last year, the firm reported revenue of $951 million, or $8.69 per share.
$Trump Media & Technology (DJT.US)$ climbed 13% on the eve of its Chief and main shareholder's bid to retake the Whitehouse.
Within industries tracked by moomoo, WallStreetBets-related stocks are flying with Palantir and Trump leading the way.
$Crude Oil Futures(JAN5) (CLmain.US)$ climbed again to 1.27%. $Bitcoin (BTC.CC)$ climbed 2% to the same price it was at a week ago. Gold and silver climbed $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ climbed.
The market was speeding higher Tuesday morning, hoping for a brighter future no matter the outcome. Just past 11:02 am ET, the $S&P 500 Index (.SPX.US)$ traded 0.74%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.67%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.89%.
The S&P PMI and ISM PMI came out Tuesday. Composite and Services PMI from S&P came in low, ISM non-manufacturing PMI came in higher, demonstrating that prices paid by services climbed less than expected, and non-manufacturing prices came in higher than expected.
The highlight of macro for the week will be the FOMC rate decision on Thursday. According to the FOMC's dot plot projections, investors are waiting for two more rate cuts this year. Friday, investors will see Michigan inflation expectations from a consumer survey.
Who will win the Presidential Election, and how will it affect the market?
We want YOU to tune in live on November 5th, U.S. election day, for a special moomoo news and community event. Come watch Nov 5th at 6:30 PM ET as the vote counts roll in with our local news team and a party of guests! Subscribe: click here to join the live discussion NOW!
Yesterday, users talked about election results and what they were doing to do in case of either eventuality.
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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