My top 10 things to watch Thursday, Nov. 7
1. It’s Fed Day. Two days after the election. Wow, what a week. To those who say we don’t need another interest rate cut, I say that you have not been listening to companies’ post-earnings conference calls. Manufacturing has been weak, and there’s a freight recession.
2. Wall Street was extending its Trump victory-fueled rally that took the Dow, the S&P 500, and the Nasdaq to new heights Wednesday. At least early Thursday, bond yields were lower after jumping on a belief that Donald Trump’s policies as president would heat up the economy and risk higher inflation.
3. Guggenheim downgraded solar company Array Technologies to neutral from buy. The analysts cited concerns Trump’s stance on energy transition. Array is a competitor of Club name Nextracker. I don’t think Trump is against solar and Nextracker has all-American products, which the incoming president should like.
