By Anna Hirtenstein and Karen Langley
After Wednesday's election euphoria, investors are settling down.
Stocks are modestly higher, after Donald Trump's victory powered the three major U.S. indexes to all-time highs last session. Some Trump trades such as the dollar and bitcoin are giving back part of Wednesday's gains.
The Federal Reserve's interest-rate decision is due Thursday; it is widely expected to cut by a quarter-percentage point. Earlier, the Bank of England made its own 25 basis point cut, the first major central bank to move since Trump's election scrambled the global outlook.
In recent trading:
Major stock indexes mostly rose. The S&P 500 and Nasdaq Composite advanced, while the Dow industrials was little changed.
Treasury yields slipped. The benchmark 10-year yield traded around 4.39%, down from Wednesday's four-month closing high above 4.42%.
The dollar weakened. The WSJ Dollar Index slipped about 0.8%, after notching its biggest daily gain in more than two years.
Bitcoin declined, after notching a new record high above $76,000 on Wednesday.
Coming up:
The Fed's rate decision is due at 2 p.m. ET, followed by Chair Jerome Powell's press conference.
Results are expected from Airbnb, Expedia and News Corp., The Wall Street Journal's parent company, after U.S. markets close.
Write to Anna Hirtenstein at anna.hirtenstein@wsj.com and Karen Langley at karen.langley@wsj.com
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
November 07, 2024 09:48 ET (14:48 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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