Morgans AM: Monday, 11 November 2024

US equity markets extended their rally, lifting the benchmark indices to fresh record highs to cap their best week in a year following Donald Trump’ sweeping election victory and after the Federal Reserve cut its benchmark interest rate by -25 basis points - Dow rose +260-points or +0.59% to 43,988.99, briefly crossing 44,000 for the first earlier in the session. Salesforce Inc +3.59% was the leading performer in the 30-stock index on Friday (8 November). Nvidia Corp (down -0.84%) became a member of the Dow on Friday (8 November), replacing beleaguered chipmaker Intel Corp (-0.11%). Paint maker Sherwin-Williams Co (up +0.70%) also joined the blue-chip index, supplanting chemical giant Dow Inc (-4.93%).