CNBC Pro: Morgan Stanley fund managers pick stocks to play into Trump’s victory
U.S. President-elect Donald Trump’s election victory sent shockwaves through the stock market, leaving investors scrambling to figure out which sectors and stocks would benefit.
Aaron Dunn, Portfolio Manager Morgan Stanley U.S. Value FundNoting there was “tremendous volatility” in markets following the election results as markets repriced a “50/50 election.”
Dunn, who is also Morgan Stanley’s co-head of value stocks, told CNBC’s “Squawk Box Asia” on Tuesday that he had identified three stocks he was betting on after the election results.
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— Amala Balakrishna
Stocks end lower, climb after election
Stocks ended lower on Tuesday as Wall Street paused its post-election rally.
The S&P 500 Index fell 0.29% to close at 5,983.99 points; the Nasdaq Index fell 0.09% to close at 19,281.40 points. The Dow Jones Industrial Average fell 382.15 points, or 0.86%, to close at 43,910.98 points.
— Brian Evans
Three-quarters of stocks on the New York Stock Exchange fell on Tuesday; Nasdaq fell 63%
About three-quarters of stocks on the New York Stock Exchange fell in price on Tuesday (2,090 of 2,824 trades), while about 63% of Nasdaq stocks fell (2,770 of 4,388), according to FactSet data.
In terms of stock trading volume, declining stocks on the New York Stock Exchange accounted for approximately 71% of the total trading volume, while declining stocks on the Nasdaq accounted for approximately 59.5% of all stocks changing hands.
Still, as the stock market has hit all-time highs on most measures recently, the number of new 52-week high stocks on the NYSE reached 177, while the number of new 52-week low stocks stood at 66. The gap between the Nasdaq’s new high and new low was 257 points and 141 points.
On Tuesday, the New York Stock Exchange’s composite volume was well below normal, reaching about 70% of its average volume over the past 30 days in late trading, while the Nasdaq’s composite volume was 95% of its average volume over the past 30 days. % above.
——Scott Schniper
Small-cap stocks retreat after post-election rally
Small-cap stocks took a big hit on Tuesday after rising in the post-election rally.
Mainly small stocks Russell 2000 It fell 1.4% intraday. That puts the index on track to give back all of the previous day’s gains.
In contrast, broad S&P 500 Index It was down just about 0.1% in Tuesday trading.
Russell 2000 and S&P 500, 1 day
Small caps are considered The winners of Donald Trump’s second term Because they can benefit from less regulation. Notably, the Russell 2000 is up about 6% from a week ago.
— Alex Harling
Citi says stock market ‘unwinding risks’ are rising
Citigroup said investor excitement after the election could lead to a short-term market pullback.
The investment firm’s quantitative research team said in a note to clients that positioning in the stock market has “expanded” and that “risks are increasing for the S&P 500 and Russell 2000.”
“S&P holdings are now at their highest levels in the past three years, with positions in the Nasdaq and Russell 2000 also expanding. Profits rose in both the S&P and Russell 2000, which could lead to near-term profits retreat, thereby further capping the upside,” the note said.
— Jesse Pond
Dollar rises against major currencies
The U.S. dollar index rose 0.4% to 105.95 on Tuesday. So far this month, the dollar has appreciated 1.9% against a basket of six major currencies.
The dollar rose 0.5% against the yen to 154.5 yen. This marked the yen’s lowest level against the dollar since July 2024.
U.S. Dollar Index 2024
