The Dow Jones Index’s struggles resumed on Monday, going down by 0.1 percent at the time of writing to hit 41,973 points. The Index has been on a steep decline in the last two weeks, and is down by 5.3 percent in the last five sessions. Equities markets are in for a potential uptick in volatility, headlined by Tuesday’s US presidential elections.
With the two leading candidates having significant variations in their economic policies, some sectors are likely to be more impacted by the elections outcome than others. This could potentially see the Dow experience increased volatility this week. The market has largely ignored last week’s Nonfarm Payrolls (NFP) figures for October, which were adversely impacted by hurricanes.
As a result, expectations remain that the Federal Open Market Committee (FOMC) members will vote to cut interest rates by 25 basis points on November 7. As this has been the general expectation among traders for the last three weeks, the Fed decision is unlikely to alter the current interest-related market momentum. The big news for the Dow Jones Index (INDEXDJX: .DJI) this week is the inclusion of Nvidia and delisting of Intel. The AI chips market giant will substitute its troubled tech peer, which will exit the Index after 25 years.
This post was last modified on Nov 04, 2024, 15:04 GMT 15:04