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Tax-loss harvesting allows investors to sell losing assets to offset gains and reduce taxable income, with excess losses carried forward. While the IRS wash sale rule complicates this by disallowing claims on repurchased identical assets, exchange-traded funds (ETFs) offer a solution through similar alternatives, helping investors maintain market exposure without violating tax regulations. Consulting a financial advisor is recommended to navigate these complexities.
Palantir Technologies' shares surged 9% to a record high after announcing its move to Nasdaq, with trading expected to begin on November 26 under the ticker "PLTR." The stock's rise follows a strong earnings report, with significant revenue growth from both U.S. government and commercial sectors, and a notable five-year contract with the military for AI technology. Despite the rally, analysts caution that the stock may be overvalued relative to the company's fundamentals, downgrading their 12-month recommendation to a hold.
US stocks are experiencing a pullback, with the S&P 500 trimming about a third of its post-election rally. As of early Friday, S&P 500 futures fell 0.6%, while Nasdaq 100 contracts dropped 0.9% and Dow Jones futures decreased by 0.3%, influenced by persistent inflation and hawkish Federal Reserve comments.
Corporate America celebrates the outcome of the presidential election, as it eliminates the threat of a corporate tax rate increase proposed by Democrats. The promise of lower taxes and deregulation under Donald Trump has boosted confidence among business leaders and shareholders, propelling the S&P 500 index to a record high.
US indices, including the NASDAQ 100 and S&P 500, remain steady, while the Nikkei 225 faces ongoing pressure, drifting below 39,000 after a recent rally. The NASDAQ 100 is consolidating below its highs, and a close below 20,760 may indicate short-term weakness. The S&P 500 holds gains, with potential support at October highs of 5880.
Treasury yields rose and the dollar reached a two-year high ahead of crucial inflation data, which may impact Federal Reserve interest-rate cut expectations. Asian stocks are poised to decline following a significant US rally, with the S&P 500 retreating after its largest five-day gain in a year. Bitcoin neared $90,000 for the first time.
Ed Yardeni predicts the S&P 500 will soar 66% to 10,000 by the end of the decade, fueled by the economic policies of President-elect Donald Trump. He has also raised his year-end targets to 6,100 for 2024, 7,000 for 2025, and 8,000 for 2026, reflecting growing optimism on Wall Street.
NVIDIA Corporation, a leader in programmable graphics processors, generates 77.8% of its sales from IT and networking solutions, including data center platforms and AI infrastructure, while graphics processors account for 22.2%. The company’s revenue is primarily derived from data storage (78%) and gaming (17.1%), with significant geographical sales in the USA (44.3%), Taiwan (22%), and China (16.9%).
Wall Street experienced a surge reminiscent of 2016 following Donald Trump's election victory, with small caps and banks seeing significant gains. The S&P 500 Index marked its best Election Day ever and its strongest week in a year. However, the landscape has shifted considerably since then, as 2024 presents new challenges.
The S&P 500 surged past 6,000 points, reaching a new record as investors celebrated Donald Trump's election victory, despite concerns over China's lack of substantial fiscal support. Following a quarter-point rate cut by the Federal Reserve, Wall Street remained optimistic, overlooking the disappointing news from Beijing. Meanwhile, the offshore yuan weakened, and U.S.-listed shares of Chinese companies faced declines.
S&P Global Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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