Here are five key things investors need to know to start the trading day:
1. Postelection gains
Stock futures slipped Friday as the major indexes look to close out a week of postelection gains. So far this week, the Dow Jones Industrial Average has advanced 4%, the S&P 500 has added 4.2% and the Nasdaq Composite is up 5.6%. Those results put both the Dow and the S&P on pace for their best weeks since November 2023. Follow live market updates.
2. Another quarter
Federal Reserve Board Federal Reserve Chairman Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting in Washington on November 07, 2024 in Washington, DC.
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3. Earnings rundown
Traders work on the floor of the New York Stock Exchange during the morning trading on November 07, 2024 in New York City.
Michael M. Santiago | Getty Images
Earnings season is starting to wrap up, and it’s been a stronger-than-expected round of results. More than 85% of S&P 500 companies have reported their most recent results as of midday Thursday. So far, earnings are about 8% higher than the year-ago period, and revenue is about 5% higher. Here are some of the most notable reports from Thursday after the bell:
4. Deal or no deal?
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Let’s make a deal. Wall Street is expecting a Trump presidency to usher in a friendlier regulatory environment and unlock deal-making. There’s plenty of pent-up demand, with executives in the pharmaceutical, financial and media sectors particularly eager to reignite M&A. “We’re very excited about the upcoming regulatory environment,” Chris Ripley, CEO of broadcast station group owner Sinclair, said during an earnings call this week. “It does feel like a cloud over the industry is lifting here.”
5. Debt swap
Pictured here is a construction site of property developer Hongkong Land, in Shanghai on Nov. 4, 2024.
Feature China | Future Publishing | Getty Images
China is tackling local government debt. The country’s Minister of Finance, Lan Fo’an, announced Friday a 10 trillion yuan ($1.4 trillion) package, spent over five years, to address so-called “hidden debt” at the local level. The funds are intended to alleviate pressure on local governments and free up resources for economic growth. Authorities signaled more economic support could come next year.
– CNBC’s Hakyung Kim, Jeff Cox, Darla Mercado, Spencer Kimball, Lillian Rizzo, Gabrielle Fonrouge, Rohan Goswami, Annika Kim Constantino, Robert Hum, MacKenzie Sigalos, Ashley Capoot, Michael Wayland, Jonathan Vanian and Evelyn Cheng contributed to this report.
