MRKT MATRIX: November 8, 2024

Today’s Top Stories:

• Dow tops 44,000, S&P 500 hits 6,000 in week of market milestones after Trump election win (CNBC)

• Investors Dial Back ‘Trump Trades’ as Policy Questions Remain (Bloomberg)

• Tom Lee says small cap stocks can outperform over next couple years by 100% on Trump policies (CNBC)

• Citi upgrades Bank of America to buy, pointing to a lighter regulatory environment (CNBC)

• Bitcoin’s on track to hit $100,000 after Trump’s election victory, analysts say (CNBC)

• S&P 500 Earnings Season Update (FactSet)

• China Unveils $1.4 Trillion Debt Swap, Saves Stimulus for Trump (Bloomberg)

Today’s On The Tape is Presented by CME Group, iConnections, and Robinhood

Let The Good Times Roll with Brian Belski

Guy Adami, Dan Nathan, and Danny Moses explore market optimism in the wake of Trump’s decisive election victory and the anticipated impacts on financial regulations, particularly for banks.

After the break (27:00), Brian Belski, Chief Investment Strategist at BMO Capital Markets, shares his insights on the future of major financial institutions and potential mergers among regional banks. The discussion also touches on the broader economic outlook, including inflation, interest rates, and the unique dynamics in the gold market. The hosts delve into the tech sector's performance, with particular analysis of JPMorgan, Tesla, and AI-driven companies like NVIDIA and Palantir. Belski closes with his cautious optimism for the stock market and the importance of focusing on individual stocks and sectors amidst evolving market conditions.

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