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TSLA Up, China Down, Friday Market Quiet After Loud, Decisive Week | Live Stock
Good morning, traders. Happy Friday, November 8th. The market still climbs two days after President Trump clinched his four-year delayed reelection. By the look of the results so far from Congress, the GOP also won majorities in the House and Senate, which may further affect the stock market through regulation, tariffs, and other tax laws.
It was an exhausting week for the news, with an FOMC meeting to boot that showed policymakers were still mooooving forward with their mandate to cut the target interest rate by the end of the year. Powell said if Trump asked him to step down, he would say "no."
My name is Kevin Travers; here is the news about animal spirits moving markets today.
$Airbnb (ABNB.US)$ fell 9% after the firm's earnings Thursday night beat estimates, and despite a raised fourth quarter forward guidance that said the firm expects bookings to grow 8%. The firm also missed profit estimates.
While other EV companies fell this week, $Tesla (TSLA.US)$ climbed nearly 30% since election night and 5% further Friday, as the market prices in how much 'protection' chief Elon Musk bought his firm with his $130M in support for the Trump campaign, according to Barrons.
$Axon Enterprise (AXON.US)$, a company that makes TASER brand defense weapons and AI law enforcement tools saw its shares climb 16% after a surprise earnings beat Thursday night. It was the highest advancing stock on the S&P 500.
There were hundreds of earnings this week and too many movers post-election to possibly mention.
Within industries tracked by moomoo, Internet retail stocks were falling as a group, weighed down by massive companies in China, like $Alibaba (BABA.US)$ and $PDD Holdings (PDD.US)$ that sank 5-6% after the Chinese Government announced stimulus Friday that was not enough to stem the appetites of hungry investors. According to Reuters, the stimulus move allows local municipalities to move more than $1T of public debt off their balance sheets.
$Bitcoin (BTC.CC)$ climbed slightly to $76k, after setting an all-time high behind $77k Thursday. Gold and silver fell. The $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell, both sitting near 4.2.
The market was on the rise, but there was a final slowdown in tech prices.
Just past 11:20 am ET the $S&P 500 Index (.SPX.US)$ traded +0.38%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.71%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.09%.
The Federal Open Market Committee lowered the target Federal Funds rate by 25 basis points to a target of 4.5%-4.75%, citing the progress in inflation and slowing job gains on Thursday.
President-elect Trump has been at odds with Federal Reserve Chair Jerome Powell, and when asked if he would step down if commanded by the incoming commander-in-chief, Powell said "No."
Yesterday, users watched rate cuts, and many said it was long expected the FOMC would drop by 25 bps. One user said cut effects will not even hit the economy for months, meaning September cuts have still not brought the intended changes.
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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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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Discussing
Trump 2.0 countdown: What's the next big opportunity in the markets?
🎙️️ Discussion: 1. Could Trump's cryptocurrency policies potentially benefit the crypto market? 2. Might his tariff policies have a positiv
Michael McCarthy CCO
Jan 3 11:57
Ask a strategist - Trump's first day
Clement Lemons : okk
Space Dust : biggest bummer to a wide uptrend?![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
those stock picks on the watchlist have went straight up, and now the apprehension of a pullback after such uncommon moves. ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
No way is this little rabbit 
able to buy what I did 4 days ago.
pretty much the granny stocks Etf anyway. banking on a ROSIE RIVET 2.0
Kevin Travers OP Space Dust : I really only understand half of this
105742796 Learner : Time will tell
105742796 Learner :
104273029 : When the US lowered its OPR, it meant that other interest rates needed to be adjusted downward. For large enterprises, long-term and short-term debt (loans) can be reduced, thereby increasing the net income of enterprises, which is a great indicator of confidence for our investments. For retail investors, due to lower interest rates, we can take our deposits from the banking industry and invest in places with higher returns, such as the market, so this will also drive room for the stock market to rise
Agent Smith 404 : I think the underlying causes of inflation are still too high.
Until we get private equity out of the real estate market and break up the food and drug monopolies, the cost of living will continue to increase in America.
72846327 : I had never followed the crowds , BUT , this time , I am following the TSLA crowds![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Alen Kok : Oh
Space Dust Agent Smith 404 : perhaps, but what if there is more? labor costs in the USA?
what if the corporate leverage is the one thing keeping the American workers wages elevated to the median?
nothing is ever what it seems and the best intentions pave a road to hell.
Dunning Kruger and Cognitive Dissonance are the biggest issues facing the USA
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