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Stock futures declined after a record Dow close, as President-elect Trump proposed tariffs on imports, impacting market sentiment ahead of Thanksgiving.

Rachel Patel26 November 2024Last Update : 2 weeks ago

www.cnbc.com

Stock futures declined in overnight trading on November 26, 2024, following a record close for the Dow Jones Industrial Average. Futures linked to the Dow fell 144 points, or 0.3%, while S&P 500 futures and Nasdaq 100 futures dropped 0.4% and 0.5%, respectively.

6 Key Takeaways

Stock futures declined after record Dow close.
Trump proposed new tariffs on imports.
Scott Bessent appointed Treasury secretary.
Dow rose 440 points during trading.
Treasury yields fell amid positive outlook.
Market closure for Thanksgiving holiday upcoming.

Fast Answer: Stock futures fell on November 26, 2024, after the Dow closed at a record high. President-elect Donald Trump announced plans for new tariffs, which may impact market sentiment.

The U.S. stock market experienced a volatile session on November 25, 2024, driven by President-elect Donald Trump’s announcement of proposed tariffs. The Dow Jones Industrial Average surged approximately 440 points, reaching a new record close, while the S&P 500 and Nasdaq Composite also saw gains. Investors reacted positively to Trump’s selection of hedge fund executive Scott Bessent as Treasury secretary, viewing him as a stabilizing figure in financial markets.

Key market movements included:

Dow Jones Industrial Average: +440 points (1% increase)
S&P 500: +0.3% to an all-time intraday high
Nasdaq Composite: +0.3%
Russell 2000: New intraday high, first since 2021

In response to the tariff announcements, which include a proposed 25% tariff on products from Mexico and Canada and a 10% levy on Chinese goods, market analysts expressed caution. NewEdge chief investment officer Cameron Dawson noted that while these policies could take time to affect the market, the immediate impact remains uncertain. The U.S. market is set to close for Thanksgiving on November 28, with expectations for lower trading volumes ahead of the holiday.

Notice: Canadian investors should monitor the implications of potential tariffs on trade relations, as they may affect cross-border commerce and market dynamics.

In summary, the stock market is reacting to a combination of record highs and new tariff proposals from President-elect Trump. As the market prepares for the Thanksgiving holiday, investors remain focused on upcoming economic indicators that could influence market Trends.