Biggest S&P 500 Movers on Wednesday

Advancers

• Companies in the financial sector—especially those that issue credit cards—were among the 澳𝔍洲幸运5官方开奖结果体彩网:top performers in the wake of Election Day. Shares of Discover Financial Services (DFS) soared 20.2%, notching the strongest gain of any S&P 500 stock. Discover previously 澳洲幸运5官方开奖结果体彩网:announced plans to merge with Capital One (COF). Increased optimism about the deal receiving regulatory approval under a second Donald Trump administration likely helped boost shares of both companies, as Capital One stock popped 15.0% higher. Meanwhile, shares of Synchrony Financial (SYF), known for its retail-branded credit cards, surged 18.8%.
• Trimble (TRMB) shares added 17.9% after the GPS navigation firm reported better-than-expected third-quarter sales and profits. A revenue boost from the company's subscriptions and software services helped drive strong performance and contributed to an increase in full-year guidance. The company cited positive trends in client spending as concerns about the economy recede.
• Steel producers also enjoyed a post-election bump. Leading up to the election, analysts indicated that a Trump victory could lead to more protective policies toward the domestic steel industry. Shares of North Carolina-based steelmaker Nucor (NUE) jumped 16.0%.

Decliners

• Super Micro Computer (SMCI) shares logged the weakest performance in the S&P 500, plummeting 18.1% after the server and data storage provider said it is 澳洲幸运5官方开奖结果体彩网:unable to specify a release date for its postponed 2024 annual report. Last week, accounting giant EY resigned from its auditing role with Supermicro. The uncertain outlook for the financial data release raised concerns about a possible delisting of the stock. The Nasdaq warned in a September letter that the reporting delay has left Supermicro out of compliance with the exchange's rules.

• Solar industry stocks 澳洲幸运5官方开奖结果体彩网:lost some of their luster as media sources called the presidential election in favor of Trump. The former president has pledged that, upon returning to the White House, he intends to reverse Biden administration policies designed to promote the adoption of renewable energy solutions. Shares of solar technology provider Enphase Energy (ENPH) dropped 16.8% on Wednesday, while shares of solar module manufacturer First Solar (FSLR) sank 10.1%.
• Although food and beverage, personal care, and health industry supplier International Flavors & Fragrances (IFF) topped third-quarter revenue estimates, earnings per share came in below expectations, and its shares sank 11.6%.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

The Outlook for Crypto and Bitcoin Under Trump

The cryptocurrency industry expects bett🤪er days ahead.

Specifically, Donald Trump's return to the White House is seen as a positive development for crypto regulation and the potential development of a strategic bitcoin stockpile. Those prospects lifted bitcoin (BTCUSD) today, with the leading cryptocurrencyꦇ surging above $76,000 for the first time ever on Wednesday.

One of the biggest concerns for the crypto industry in recent years has been the Securities and Exchange Commission's approach to enforcement. The SEC has been 澳洲幸运5官方开奖结果体彩网:criticized by crypto backers for perceived jurisdictional overstepping, bringing cases against crypto exchanges Binance, Coinbase, Kraken, and others.

During his speech at the Bitcoin 2024 conference in July, Trump promised to end the current administration's "anti-crypto crusade" and to replace SEC chair 澳洲幸运5官方开奖结果体彩网:Gary Gensler on "day one." At the same event, he proposed crea𒆙tion of a bit🌠coin stockpile.

This election has also brought more crypto-friendly lawmakers into the Congress, making industry backers more optimistic. The results could mean rapid progress on bills related to 澳洲幸运5官方开奖结果体彩网:stablecoins and clarification on when a🃏 crypto asset is a security, analysts at Bernstein said, according to a CoinDesk report.

They could also presage new crypto exchange-traded funds, such as the one recently proposed by crypto asset manager Bitwꩲise for XRP.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Kyle Torpey

Meantime, at the Federal Reserve...

The Federal Reserve's policy committee on Wednesday began a two-day meeting that's expected to culminate with a decision to 澳洲幸运5官方开奖结果体彩网:cut the benchmark lending rate by a quarter percentage point.

At just about any other time, the start of the Fed meeting would have been front and center on the minds of investors, but the election has grabbed the spotlight this week. Nonet🐻heless, market attention will be squarely focused tomorrow afternoon on t🅷he Fed.

The decision is due at 2:00 p.m. ET, when the Fed will release its policy statement, which is eagerly awaited not only for the decision on rates but also for clues about what the Fed will do in the months ahead. Fed Chair Jerome Powell's will speak at a press conference a half hour later, and his remarks about the health of the economy and what it means for monetary policy will be closely scrutinized.

The central bank cut its key fed funds rate in September for the first time in four years, slicing it by half a percentage point. Officials indicated at the time that they expected to contin🤪ue easing policy as inflation had subsided and the labor market was showing signs of weakness.

What Trump's Election Means for Mortgage Rates

Treasury yields surged on Wednesday as market participants strapped in for a Trump presidency that's expected to boost inflation and interest rates.

Experts expect rising yields to lift mortgage rates in the coming weeks𝕴, though rates are expected to continue to trend downward over the long te𒉰rm.

Economists say Trump's tax and tariff policies could stoke inflation and deter the Fed from cutting interest rates as much as previously expected.

Read the 澳洲幸运5官方开奖结果体彩网:full analysis here.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

Gold Prices Tumble as Dollar Strengthens, Treasury Yields Rise

Gold futures fell sharply Wednesday as news of Donald Trump's election victory sent bond yields, the U.S. dollar, and stocks strongly higher.

Gold futures dropped as much as 3% to as low as $2,673 per troy ounce. The precious metal now has shed about 5% of its value since peaking at its 澳洲幸运5官方开奖结果体彩网:latest all-time high of $2,805 per troy ounce a week ago.

Gold has enjoyed a 澳洲幸运5官方开奖结果体彩网:yearlong rally driven by rising central bank purchases, geopolitical tension, and declining interest rates. Expectations that those will persist have led many analysts to project further gains in the price of gold, with Goldman Sachs predicting gold will reach $3,000 per 澳洲幸运5官方开奖结果体彩网:troy ounce by the e꧒nd🌊 of 2025. That rally reversed amid concerns that Trump's proposed tariffs and immigration could reignite inflation.

Adam Turnquist, chief technical strategist for LPL Financial, said higher growth and 澳洲幸运5官方开奖结果体彩网:inflation expectations drove bond yields and the dollar higher Wednesday. That make𝓀s gold, which offers no yields, less attractive to investors.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Lyle Niedens

What Wall Street Thinks of Qualcomm Ahead of Earnings Report

Qualcomm (QCOM) will report its fiscal fourth-quarter earnings after the market closes Wednesday, and analysts expect rising revenue and profits compared to th༒e same time last year. However, they see revenue growth slowing over the next year amid slow smartphꩲone and PC sales.

Analysts are somewhat bullish on the 澳洲幸运5官方开奖结果⛄体彩网:hardware and software manufacturer's stock, with the 12 analysts tracked by Visible Alpha split between four "buy," seven "hold," and one "sell" rating. Qualcomm's average 澳洲幸运5官方开奖结果体彩网:price target of $198.08 shows that analysts think the stock has room to 🌃rise in the coming months.

In the fourth quarter, analysts expect Qualcomm's revenue to have risen nearly 15% from the same time last year to $9.9 billion, with profits projected toꦍ rise over 70% to $2.58 billion, according to estimates compiled by Visible Alpha.

Qualcomm stock was up nearly 4% W𓆏ednesday to around $172, about 19% above where it started the year but below the June🔴 high of $230.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

CVS Shares Soar on Earnings, Leadership Change

CVS Health (CVS) shares surged after the pharmac🏅y chain and healthcare company posted better-than-expected results and new CEO David Joyner made leadership changes as he moves to shake up the struggling firm.

The company reported third quarter earniওngs per share oꦗf $1.09, with revenue rising 6.3% to $95.4 billion.

Revenue was boosted by the Pharmacy & Wellness division, which saw sales up 12% to $32.4 billion, aided by higher prescripti🍷on vo▨lume, Sales at the Health Care Benefits segment advanced some 25% to $33 billion on growth in Medicare and commercial product lines.

The company said Health Services unit revenue dropped 5.9%, chiefly because of the loss of a large client and continued pharmacy client price improvements. Reuters in January reported that Tyson Foods (TSN) replaced CVS Hea🦋l🌊th with Rightway to manage employee drug benefits.

Joyner took over as CEO 澳洲幸运5官方开奖结果体彩网:last month. CVS in a separate statement said former UnitedHealth Group (UNH) executive Steve Nelson will become head of its Aetna insurance arm, and Prem Shah, the current chief pharmacy officer and presid🌸ent of the Pharmacy & Consumer Wellness division, will become group preside🔯nt

CVS shares were up 10% in recent trading, but 🌟are still down more than 20% since the start of the ꦯyear.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Small-Cap Stocks Jump After Trump Win

Small-cap ♔stocks rose broadly Wednesday, outperforming the leading market indexes in the wake of Donald Trump’s victory in the presidential election. 

The Russell 2000 (RUT) index of smaller companies was recently up more than 4%, outpacing 澳洲幸运5官方开奖结果体彩网:gains seen in𒉰 the S&P 500, Dow and Nasdaq. Several Russell companies posted large gains, with roughly a dozen recently up about 20% or more. 

Both the Russell and benchmark S&P are up this year, but today’s move narrows the S&P’s outperformance. It also has the Russell at yearꦍ-to-date highs — and levels last seen in late 2021. 

The economic environment is generally seen as favorable to smaller companies, which are more sensitive to broader conditions. The Federal Reserve is also expected to 澳洲幸运5官方开奖结果体彩网:cut rates again on Thursda♌y; lower interest rates are generally understood to benefit companies that, like small caps, often carry more debt. 

Some analysts have also speculated that a Republican win could mean lower corporate tax rates that might particularly benefit smaller firms. 

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

Solar Stocks Tumble Following Trump's Election Win

Several solar stocks including First Solar (FSLR) and Enphase Energy (ENPH) slumped in early trading Wednesday after the presidential election was called in favor of former President ▨Donald Trump.

SunRun (RUN), Plug Power (PLUG), and SolarEdge Technologies (SEDG) shares also declined, with the Invesco Solar (TAN) 澳洲幸运5官方开奖结果体彩网:exchange-traded fund (ETF) down nearly 11%.

In the 16-page campaign platform listed on Trump's website, positions on energy policies include increasing oil, natural gas, and coal production, while reversing Biden administration policies favoring renewable energy.

Trump's ability to reverse legislation like the 澳洲幸运5官方开奖结果体彩网:Inflation Reduction Act, which 澳洲幸运5官方开奖结果体彩网:studies have shown has accelerated the reduction of carbon dioxide emissions, will hinge on how Republicans fare in the remaining races yet to be decided in the House of Representatives. The party has secured a slight majority in the Senate, per the races already called by the Associated Press.

-澳洲幸运5官方开奖结果体彩网:Aaron McDade

Super Micro Computer Levels to Watch as Stock Plunges Again

Shares in Super Micro Computer (SMCI) tumbled in early trading Wednesday after the troubled server maker provided preliminary fiscal first-quarter results late yesterday that came in below Wall Street expectations and said it’s unable to predict when it will file its 澳洲幸运5官方开奖结果体彩网:delayed 2024 annual report.

The stock broke down below a falling wedge pattern late last month on the highesᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚt weekly volume since late August, suggesting selling conviction behi൲nd the move.

Investors should watch crucial support levels on Super Micro Computer's chart around $23, $12, and $10, while monitoring a key resistance area near $30.

The stock was down 23%ℱ at $21.38 in 𝔉recent trading.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

What Donald Trump's Victory Means for the Economy

Former president Donald Trump's victory in the 2024 presidential election sets the U.S. economy on a path of higher tariffs, lower taxes, and deregulation.

His victory has immediate and longer-term consequences for the U.S. economy. In the short run, the U.S. avoids the uncertainty and disruption that a delayed result 澳洲幸运5官方开奖结果体彩网:could have caused.

In the longer run, Trump will have the chance to implement the vision laid out during his campaign, though his ability to do so will depend on which party controls the House of Represen🍒tatives, and several of those races have yet to be ca♒lled.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Diccon Hyatt

Tesla Jumps as Musk Seen Winning Under Trump Presidency

Shares of Tesla (TSLA) were up 12% in recent premarket trading Wednesday on investor bets that the electric vehicle (EV) m༒aker run by Elon Musk will be a major beneficiary of Donald Trump’s return to the presidency.

Tesla CEO Musk, an outspoken Trump backer, is expected to become a promi꧂nent adviser to the president.

Tesla's prospects under a Trump presidency are less clear cut, however. Trump isn’t a backer of clean energy, while Tesla has 澳洲幸运5官方开奖结果体彩网:benefited from the 澳洲幸运5官方开奖结果体彩网:Inflation Reduction Act of 2022, signed by President Joe Biden. Tesla also gained from 100% ✃tariffs on Chinese EVs imposed by Biden that protected the EV maker from an onslaught of cars from the Asian nation—which is also a major market for the company.

Wedbush analyst Dan Ives, who has an “outperform” rating on the EV maker’s shares, 澳洲幸运5官方开奖结果体彩网:said Sunday that the possibility of a trade war with China could weigh on𝓰 the company. Ives did, however, note that a Trump presidency could mark a more welcoming environment for the company’s autonomy ♍initiatives.

-澳洲幸运5官方开奖结果体彩网:Nisha Gopalan

Trump Media Stock Surges in Premarket Trading

Shares of Trump Media and Technology Group (DJT) jumped in 𓂃premarket trading with former President Donald Trump set to win re-election to the White House. 

The social-media company’s shares were recently trading at around $45, indicating an open more than 30% above Tuesday’s close. The move would extend a jump off September lows below $12 that has been marked by 澳洲幸运5官方开奖结果体彩网:big swings in the company's value.

The company, owner of the Truth Social platform, last night reported its latest quarterly financial results, turning in third-quarter revenue of $1 million and a net loss of a bit more than $19 million. In its press release, executives🐽 cited a “legion of retail investors” who own the sha𓆏res. 

The company “continues to explore addi𒉰tional possibilities for growth such as potential mergers and acquisitions with companies that would benefit from Trump Media technology and branding, including in the realm of fintech,” CEO Devin Nunes said in a statement. 

Trump is majority owner of the company's shares.

-澳洲幸运5官方开奖结果体彩网:David Marino-Nachison

Major Indexes Poised to Skyrocket at Wednesday's Open

Futures tied to the Dow Jones Indust𒁏ria꧙l Average were up 3%.

S&P 500 futures were up 2.3%.

Nasdaq 100 futures were up 1.7%.