Good evening. The S&P 500 ended the week up 4.7%, creating new all-time highs after the U.S. election outcome. Here are the top stocks to watch this week and what’s moving the markets.

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Top Stocks & Setups To Watch This Week

• $ROKU
Break above 74.14 🎯 77.51 & 80.77
• $AAPL
Break above 229.83 🎯 233.47 & 237.49
• $AMD
Break below 145.10 🎯 140.71 & 134.86
• $COIN
Break above 272.55 🎯 287.48 & 295.16
• $HD
Break above 406.40 🎯 415.29 & 421.56
• $META
Break above 608.86 🎯 621.51 & 639.55

KV’s S&P 500 Levels

Weekly Market Recap

Election Eases Uncertainty

The U.S. election delivered a decisive result, calming markets and reducing volatility. Despite the campaign’s focus on potential policy shifts, underlying market drivers like economic growth and earnings remain key. With a Republican win, tax cuts and deregulation could boost growth, benefiting cyclicals and smaller-cap stocks. However, increased debt may pressure interest rates, and investors will need to watch for signs of inflation.

Fed Policy Adjustments

The Federal Reserve cut rates again, lowering its policy rate, but signaled a cautious approach ahead, given improving economic data. Fiscal changes from the new administration could slow the pace of rate cuts if inflation reemerges. Market expectations have adjusted, with fewer rate cuts anticipated through 2025. This suggests interest rates may settle between 3.5% and 4%, providing opportunities for investors to lock in attractive bond yields.

Focus on Fundamentals

The U.S. economy shows resilience, defying recession fears, with steady consumer spending, rising corporate profits, and a softening labor market. Despite political changes, long-term trends and strong fundamentals support the ongoing bull market. Diversifying portfolios and focusing on growth sectors like U.S. mid-caps and industrials can help capture gains. A measured approach to equity and fixed-income investments is advised as markets adjust to post-election dynamics.

Coming Up…

Important economic releases this week include CPI inflation and retail sales data. On the earnings front, SHOP, MARA, BABA $CAVA, SPOT, DIS, PLUG, HD, OXY, and CSCO are expected to report this week.

Key Headlines We’ve Been Reading

This is what’s caught our eye over the past 7 days.

• Markets close at record highs as Trump is reelected.
• China's luxury slump is trickling down to other consumer companies.
• Boeing bankers grab up to $300 million in capital raise fees.
• Oil giant Saudi Aramco posts 15% drop in third-quarter profit but maintains dividend.
• Nvidia rides AI wave to surpass Apple, becomes world's largest company.

Trading Quote Of The Week

That was it for this week!

Stay safe,
KV 👋

Week #46 | November 10, 2024

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