Market analysts say the stock market's momentum following the 2024 election could continue, driven by steady economic growth, strong corporate earnings and expectations for further interest rate cuts by the Federal Reserve. But concerns remain that a shift in policies could affect inflation rates.
The U.S. market typically rises after presidential elections regardless of which party wins, and it surged after former President Donald Trump won another term and Republicans took control of the U.S. Senate. The Dow Jones Industrial Average, the S&P 500 and the tech-focused Nasdaq Composite closed at record highs last week, with most stocks edging upward this week following a pause on Tuesday. On Wednesday, the GOP won enough seats to control the U.S. House.
