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Market Rally and Earnings Update
CNBC's Jim Cramer discusses market rally, Fed rate expectations, sector performance, and upcoming earnings reports.
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Jim Cramer
- What were the key market movements on Tuesday?
- The market experienced a rally on Tuesday, with all 11 sectors showing gains, and the S&P 500 rising by over 1%. This positive market activity may be attributed to investors' relief from election uncertainty and ongoing economic strength.
- Which sectors performed best and worst on Tuesday?
- The top-performing sectors on Tuesday were consumer discretionary, industrials, and information technology. Conversely, energy, materials, and consumer staples underperformed, with Celanese experiencing a significant selloff due to a weak outlook.
- How did DuPont and Celanese perform and why is there such a contrast?
- DuPont's stock rallied over 6% following a strong earnings report and upwardly revised guidance. This contrasts sharply with Celanese's performance, highlighting DuPont's successful divestment and stock repurchase strategy.
- Which companies are reporting earnings after and before market hours?
- Several companies are scheduled to release earnings reports after the closing bell and before Wednesday's opening bell, including Devon Energy, International Flavors & Fragrances, Super Micro Computer, Novo Nordisk, CVS Health, Howmet Aerospace, and Celsius Holdings.
- What is the anticipated action of the Federal Reserve regarding interest rates?
- Despite positive economic data, the Federal Reserve is still expected to lower interest rates by 25 basis points on Thursday. While the 10-year Treasury yield has been rising due to concerns about inflation, it remained relatively unchanged on Tuesday.