US open: Dow builds on solid post-election rally

8th Nov 2024 14:03

(Sharecast News) - Wall Street stocks trading got off to a mostly positive start on Friday after the Federal Reserve Bank opted to lower its benchmark interest rate by 25 basis points.

As of 1530 GMT, the Dow Jones Industrial Average was up 0.51% at 43,953.62, while the S&P 500 advanced 0.28% to 5,989.76 and the Nasdaq Composite came out the gate 0.10% weaker at 19,250.46.

The Dow opened 224.28 points higher on Friday, building on this week's solid post-election gains.

The Fed's decision to lower interest rates, in line with expectations, was still drawing an amount of investor attention early on Friday, as were comments from chairman Jerome Powell, who said he was "feeling good" about the state of the US economy during his post-meeting presser but did warn that the US was on an unsustainable path as far as fiscal policy was concerned.

On the macro front, a preliminary reading of the University of Michigan's consumer sentiment index increased to 73 in November, up from 70.5 in October and ahead of forecasts for a print of 71.

In the corporate space, Airbnb shares were in the red during early trading after Q3 earnings came in shy of consensus expectations, while Block shares were also trading lower after posting a Q3 revenue miss.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

McDonald's Corp. (MCD) $301.65 2.37%

Walmart Inc. (WMT) $85.06 1.44%

Travelers Company Inc. (TRV) $255.55 1.30%

Unitedhealth Group Inc. (UNH) $611.87 1.06%

Procter & Gamble Co. (PG) $165.04 1.00%

Visa Inc. (V) $308.82 0.99%

Amgen Inc. (AMGN) $325.05 0.98%

Home Depot Inc. (HD) $402.72 0.82%

Goldman Sachs Group Inc. (GS) $586.52 0.75%

JP Morgan Chase & Co. (JPM) $237.86 0.63%

Dow Jones - Fallers

Caterpillar Inc. (CAT) $394.27 -3.42%

Dow Chemical Co. (DOW) $47.26 -3.36%

Walt Disney Co. (DIS) $98.16 -0.78%

Chevron Corp. (CVX) $155.91 -0.55%

Walgreens Boots Alliance, Inc. (WBA) $9.23 -0.43%

Intel Corp. (INTC) $26.13 -0.38%

Microsoft Corp. (MSFT) $424.89 -0.13%

International Business Machines Corporation (CDI) (IBM) $213.52 -0.08%

Dowdupont Inc. (DWDP) $0.00 0.00%

Johnson & Johnson (JNJ) $156.76 0.02%

S&P 500 - Risers

Expedia Group Inc. (EXPE) $187.33 7.58%

Dxc Technology Company (DXC) $24.13 6.86%

Fortinet Inc. (FTNT) $88.71 6.02%

Molson Coors Beverage Co. Class B (TAP) $59.85 5.51%

Motorola Solutions Inc (MSI) $493.26 4.96%

Eog Resources Inc. (EOG) $130.90 3.51%

DENTSPLY Sirona Inc. (XRAY) $17.83 3.30%

Cintas Corp. (CTAS) $225.06 2.52%

McDonald's Corp. (MCD) $301.65 2.37%

Progressive Corp. (PGR) $261.23 2.33%

S&P 500 - Fallers

Fluor Corp. (FLR) $50.91 -13.61%

Akamai Technologies Inc. (AKAM) $92.86 -11.05%

Under Armour, Inc. (UA) $9.26 -6.89%

Under Armour Inc. Class A (UAA) $10.38 -6.78%

H&R Block Inc. (HRB) $59.44 -6.18%

Arista Networks Inc. (ANET) $405.80 -5.85%

Mettler Toledo International (MTD) $1,334.55 -5.45%

Freeport-McMoRan Inc (FCX) $46.36 -4.57%

Bath & Body Works, Inc. (BBWI) $30.45 -4.09%

Apartment Investment & Management Co. (AIV) $8.37 -3.68%

Nasdaq 100 - Risers

Expedia Group Inc. (EXPE) $187.33 7.58%

Tesla Inc (TSLA) $308.92 4.04%

DENTSPLY Sirona Inc. (XRAY) $17.83 3.30%

Mercadolibre Inc. (MELI) $1,824.00 2.82%

Cintas Corp. (CTAS) $225.06 2.52%

T-Mobile Us, Inc. (TMUS) $236.46 2.15%

Vertex Pharmaceuticals Inc. (VRTX) $512.71 2.04%

Verisk Analytics Inc. (VRSK) $285.95 2.00%

Fiserv Inc. (FI) $212.50 1.74%

American Airlines Group (AAL) $13.84 1.62%

Nasdaq 100 - Fallers

NetEase Inc. Ads (NTES) $77.00 -5.13%

JD.com, Inc. (JD) $39.40 -4.45%

Qurate Retail Inc. (QRTEA) $0.46 -4.45%

Baidu Inc. (BIDU) $90.16 -3.60%

Dollar Tree Inc (DLTR) $61.58 -3.08%

Trip.com Group Limited (TCOM) $66.32 -3.08%

Microchip Technology Inc. (MCHP) $72.16 -2.93%

Wynn Resorts Ltd. (WYNN) $84.63 -2.91%

Micron Technology Inc. (MU) $110.67 -2.42%

Skyworks Solutions Inc. (SWKS) $89.18 -2.18%