Friday, November 22, 2024

Stock Market Today: Dow Falling Ahead of Election; Trump Media, Nvidia, Intel, Apple, More Movers; Treasury Yields Fall

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Stocks are wavering in morning trading, with the S&P 500 and Nasdaq Composite moving into positive territory.

The Dow continues to mark one-day losses, down 0.3%, while the S&P 500 and the Nasdaq are up 0.1% each.

These moves are nothing to write home about. More significant action is taking place in other markets like bonds, currencies and oil, which strategists say are all reacting to the fresh changes in the polling averages that favor a win by Vice President Kamala Harris.

West Texas Intermediate crude oil, the U.S. benchmark, rose by 2.1% to $70.97.

Harris is seen as a candidate who would largely maintain status quo, and unlike Trump won’t enact policies that could push up inflation –that means firmer oil prices, higher prices on bonds but a weaker dollar.

Oil was also reacting to tensions in Iran and news that the Organization of the Petroleum Exporting Countries agreed to delay a planned December oil output increase.

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