Weekly Market Update: November 18, 2024
11/18/24
Markets Fluctuate as Post-Election Trade Continues
Broad market equity indexes gave back much of their post-election gains this week, although pockets of relative euphoria remain. The S&P 500 fell -2% and the Nasdaq 100 fell -3% after the two indexes notched mid-single digit percent increases last week. While most equity indexes declined this week, animal spirits are alive and well in certain speculative corners of the market. Bitcoin’s momentum continued - the cryptocurrency rose 20% on the week to more than $90,000 and is now up almost 120% year to date. Stocks that are expected to benefit from the new administration extended post-election gains as well. Turning to bonds, yields rose further as traders continue to price a Trump presidency and incrementally hawkish comments from Fed officials. With earnings season mostly in the rearview mirror, all eyes will be on Nvidia, which reports after the close on Wednesday.
Investment and insurance products are not FDIC-insured, are not a deposit or other obligation of, or guaranteed by the bank or an affiliate of the bank, are not insured by any federal government agency and are subject to investment risks, including possible loss of the principal amount invested.
Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Wealth Management team, or find the right financial partner on our Commercial Banking team for your business needs.
This article contains general information only. Sunflower Bank, N.A. is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.