US Stocks Likely To Open Higher, Extending Post-Election Rally: Fed's Rate Decision On Investors' Radar As Expert Highlights Markets Scaling 48 All-Time Highs This Year

U.S. stocks could open in the green on Thursday after a strong post-election rally on Wednesday that saw former President Donald Trump emerge victorious after a long-drawn battle with Joe Biden and Kamala Harris.

Futures of all three major indices edged up on Thursday, pointing to positive sentiment on Wall Street.

Shares of Trump's social media company, Trump Media & Technology Group Corp. (NASDAQ:DJT) will remain in focus once again on Thursday after surging nearly 6% on Wednesday.

Futures

Performance (+/-)

Nasdaq 100

0.22%

S&P 500

0.19%

Dow Jones

0.19%

R2K

0.35%

In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) gained 0.22% to $592.42 and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.26% to $506.87, according to Benzinga Pro data.

Cues From Last Session:

All three major indices registered strong surges as election results poured in on Wednesday, ending the session with major gains. The wider Dow Jones index surged by over 1,500 points, closing the day with 3.6% gains.

Oil prices continued to ease as Trump's win increased expectations of a stronger U.S. dollar.

Treasury yields continued to gain after popping on Wednesday at the prospect of a Trump victory.

All eyes will be on the Federal Open Market Committee (FOMC) and Federal Reserve chair Jerome Powell on Thursday as investors await signals on the path for rate decisions going forward.

Most sectors on the S&P 500 closed on a positive note, with consumer discretionary, industrials, and financials stocks recording the biggest gains on Wednesday.

However, consumer staples and real estate stocks bucked the overall market trend, closing the session lower.

Index

Performance (+/-)

Value

Nasdaq Composite

2.95%

18,983.47

S&P 500

2.53%

5,929.04

Dow Jones

3.57%

43,729.93

Russell 2000

5.84%

2,392.92

It's not just equities that surged—top cryptocurrency Bitcoin (CRYPTO: BTC) continued to gain momentum, scaling a new all-time high of ...