Us Stock Markets Edge Higher

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Us Stock Markets Edge Higher

Us Stock Markets Edge Higher, Focus On Fed Speakers

All of the big US stock indexes are trending higher on Tuesday. This is an after-effect of Trump's win as he is expected to lower the corporate rate.

Now, all eyes are on the release of the US CPI for October 2024. This could provide insights on how the Fed is planning to adjust its monetary policy.

S&Amp;Amp;P 500 Gains 0.1%

The DJIA has gained 45 points which is equivalent to 0.1% gains. Meanwhile, the S&P 500 is also up by a marginal 0.1%. Just like that, the Nasdaq Composite has gained 0.1% or 20 points.

It's safe to say that all the major US stock indexes are positive after it was confirmed that Trump is the next president of the USA.

The US CPI data is due on Wednesday and will provide insights into the inflation situation last month. The forecasts show that inflation will remain steady and the economy will remain resilient. However, an elevated reading of the US CPI could risk the Fed's current plan of rate cuts.

Just a week ago, the US Federal Reserve lowered the rate by 25 bps and talked about the need for data driven approach.

If we look at individual stocks, Home Depot is up by 0.3% after an upward revision in the sales forecast. The DIY retailer believes that demand will improve, leading to improved sales.

Shopify (SHOP) was the highlight for the day which has gained almost 20%. This sudden rise in stock prices came after the company announced an above-forecast revenue growth for Q4.

Hertz (HTZ) was not so fortunate, as it is down by 9% after reporting a big Q3 loss. The company also missed the revenue forecasts.

Tyson Foods (TSN) also seems to be enjoying the positive sentiment as the stock is up by 8.1%. The food giant also released its report showing better than forecast earnings for Q4.

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