Here is the news article, written for an eighth grade reading level:
Cons Discr led market higher today, followed by Financials; latter still in a much better spot YTD but former is continuing to gain strength; Tech fell but still holds onto a nice gain MTD … small caps had another strong day and are outperforming large caps by a wide margin MTD pic.twitter.com/hNatimLcbt
— Liz Ann Sonders (@LizAnnSonders) November 11, 2024
U.S. stock futures were almost flat on Tuesday morning.
S&P 500 (blue) has shot up to new all-time highs, but strength not yet confirmed by new high in NYSE advance-decline line (orange)
[Past performance is no guarantee of future results] pic.twitter.com/KJ4MIvQPu0— Liz Ann Sonders (@LizAnnSonders) November 11, 2024
Investors are trying to figure out where to put their money after stocks went up a lot following the election. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all went down a little bit.
But on Monday, they all reached record highs. Home Depot reported strong results for the quarter. The company raised its outlook for the full year.
A couple of charts from the @opinion daily note from @johnauthers discussing recent market developments.#economy #markets #stocks #bonds #econtwitter pic.twitter.com/BjatTX8rfw
— Mohamed A. El-Erian (@elerianm) November 12, 2024
It now expects sales to go up by about 4%. Before, it thought sales would only increase between 2.5% and 3.5%. Hurricane repairs and warm weather helped boost sales.
But Home Depot warned that people are waiting for lower mortgage rates before making home improvements. Mattel had to pull thousands of its “Wicked” dolls. There was a mistake on the package.
Stock futures steady amid investor speculation
It listed a link to an inappropriate website instead of information about the “Wicked” movie. Universal is getting ready to sell a lot of “Wicked” products before the movie comes out on November 22.
Mattel might have to reprint the packages or give stores stickers to cover up the wrong website. General Motors is doing really well this year. The company’s stock price has gone up more than 54%.
It’s beating its competitors, including Tesla. GM did better than expected in the third quarter. It thinks next year will be just as good as this year.
Bitcoin is getting close to $90,000 for the first time. On Monday, it almost reached that amount before going down a bit on Tuesday morning. Many investors think it will go past $100,000 later this year.
The new president has promised to make things easier for cryptocurrency businesses. In the past, these businesses have had to deal with a lot of risks and uncertainty.
