Stock Market Update
26-Nov-24 10:10 ET
Tariff talk and rising rates keep market in check
Dow -256.30
at 44480.27,
Nasdaq +83.10
at 19137.94,
S&P +10.29
at 5997.66
[BRIEFING.COM] The stock market opened to mixed action as participants react to President-elect Trump saying he will impose large tariffs on imports from Canada and Mexico, and increase tariffs on China imports. The S&P 500 (+0.2%) and Nasdaq Composite (+0.5%) trade up, thanks in part to gains in mega caps.
The Dow Jones Industrial Average sports a 0.6% decline and the Russell 2000 trades 0.6% lower. The equal-weighted S&P 500 trades 0.3% lower.
Rising market rates have kept buying in check in equities. The 10-yr yield, which is sensitive to inflation pressure, is up four basis points to 4.31% and the 2-yr yield is up one basis point to 4.28%.
The Consumer Confidence Index rose to 111.7 in November (Briefing.com consensus 113.0) from 109.6 (revised from 108.7) in October.
New home sales totaled 610,000 in October (Briefing.com consensus 718,000) following a total of 738,000 in September.
