The main focus of attention over the last few sessions has been the dramatic surge in Dow futures as the election results and possibility of increased fiscal spending help drive gains in the index’s components. Due to its more narrow focus and scope with less emphasis on being a broad measure of the economy, the Dow Jones Industrial Average rose by 0.11% during Monday’s session, outpacing gains in other local benchmarks and closing at a new record. The S&P 500 closed mostly flat while Nasdaq futures shouldered the brunt of the losses as famous names including Facebook, Amazon, Netflix, and Google all dragged index performance lower. Since the election, these stocks in particular have been under pressure, especially amid concerns about Trump’s perspective towards overseas trade. While Nasdaq futures are trading slightly higher during the European open, more losses in big name tech stocks could continue to weigh on performance.
Stocks Split on Outlook as Tech Leads Losses
Daily Analysis - 15/11/2016