Live US Stock Market Updates: Nasdaq and S&P 500 Futures Slip as Market Rally Cools

Here’s a quick glance at the major market themes shaping the day: China’s latest stimulus package left investors unimpressed, Paramount missed earnings expectations even as streaming continues to grow, and Nvidia has now hit a groundbreaking $3.6 trillion market cap. Meanwhile, enthusiasm around Trump-linked trades has slowed as uncertainty over potential tariff plans continues.

Today’s Economic Snapshot:

• The University of Michigan Consumer Sentiment Index releases its preliminary report for November.

Earnings in Focus:

• Key reports expected today include Canopy Growth (CGC), Icahn Enterprises (IEP), Sony (SONY), and Paramount Global (PARA). Stay tuned for updates!

U.S. stocks are trending up as the market responds to recent shifts in the Dow Jones lineup and the Federal Reserve’s latest rate cut. The S&P 500 is slightly up by 0.1%, and the Dow Jones has gained 0.3%, while the Nasdaq remains steady as initial election optimism starts to level out.

On Thursday, the Federal Reserve announced a 25 basis point rate cut, a move expected by investors to help sustain growth in the current economy.

In major Dow changes, Nvidia (NVDA), a leader in AI technology, has replaced Intel (INTC) in the Dow 30, signaling a market shift towards the booming AI sector. Nvidia’s stock has risen over 200% this year, in contrast to Intel’s decline of around 45%, capturing the growing importance of AI in today’s market.

Additionally, Sherwin-Williams (SHW) has taken the spot of Dow Inc. (DOW), aligning with current market trends as the Dow evolves with these new, high-performing players. Both Nvidia and Sherwin-Williams bring strong growth potential, which could add resilience and energy to the Dow in the weeks ahead.

Americans are feeling more optimistic about inflation in the near term, according to the University of Michigan’s latest consumer sentiment survey. The survey shows that people expect inflation to ease to 2.6% over the next year, down slightly from 2.7% last month. This is the lowest inflation expectation since December 2020, falling within the 2.3% to 3.0% range typical before the pandemic.

However, when it comes to long-term inflation, expectations have inched up, with consumers now predicting a 3.1% rate, up from 3% in October.

The overall consumer sentiment index also climbed to 73 in November from 71 in October, reflecting improved confidence in economic conditions. This survey data was gathered before Monday, so any potential impact from the recent election results isn’t reflected here.

Trump Media & Technology Group (DJT) saw its stock jump 10% and was briefly halted for volatility after Donald Trump announced he would not be selling his shares in the company, which owns the social media platform Truth Social.

Trump, who holds a significant 60% stake in DJT, made the announcement on his Truth Social account. With shares currently priced around $30, Trump Media has a market value of approximately $6.5 billion, meaning Trump's stake is worth around $3.9 billion.

The stock has been on a wild ride in recent days, with price fluctuations largely tied to Trump’s political future. On Thursday, the stock fell nearly 23%, reversing the previous day’s gains after Trump was projected to defeat Kamala Harris in the presidential election. However, Friday saw a rebound, and while the stock is down just 2% over the past week, it has soared more than 60% in the past month.

Tesla (TSLA) reached a major milestone on Friday, hitting a $1 trillion market cap as its stock surged by as much as 7%. The electric vehicle giant’s impressive performance this week followed Donald Trump’s White House victory, which helped fuel investor enthusiasm.

Tesla CEO Elon Musk played a significant role in supporting Trump’s election campaign, contributing over $130 million in political backing. This strong connection, combined with Tesla’s continued growth and success, has led to significant gains for the company’s stock.

On Friday, Tesla shares traded at their highest point since March 22, marking another achievement in the company’s remarkable rise. Stay tuned as we continue to track Tesla’s performance and its impact on the broader market.

The Dow Jones Industrial Average (^DJI) reached a historic milestone on Friday, soaring to new intraday highs and crossing the 44,000 mark for the first time.

The index gained nearly 0.7%, or approximately 290 points, marking a strong performance. However, despite the overall gains, Nvidia (NVDA), the AI chip giant that joined the Dow on Friday, saw a slight decline of about 1%.

Year-to-date, the Dow is up approximately 28%, continuing its impressive growth. This latest achievement highlights the strength of the blue-chip index as it remains a key driver of the broader market’s momentum. Stay tuned for more updates on market trends and movements.