Finance & Market Update: Monday, November 11, 2024

Real Estate & Commercial Real Estate (CRE) Insights:

• Office Market: Companies are increasingly rolling back flexible work policies, boosting demand for office space and benefiting landlords. (The Wall Street Journal)

• Commercial Real Estate Bonds: Bonds used to finance U.S. commercial real estate are on pace for their best yearly performance in a decade, with excess returns for commercial mortgage-backed securities pegged at 3.4% in 2024. (MarketWatch)

• First-Time Home Buyers: Their share of home sales has reached a 43-year low, attributed to high home prices and mortgage rates above 7%, coupled with a lack of affordable homes. (MarketWatch)

Market Highlights:

• U.S. Stock Market: The Dow Jones Industrial Average closed at 43,988.99, up 0.59%. The S&P 500 rose 0.38% to 5,995.54, and the Nasdaq Composite edged up 0.09% to 19,286.78. (The Wall Street Journal)

• Cryptocurrencies: Bitcoin reached a new high, trading above $81,000. Ethereum also saw gains, trading at $3,182.17. (The Wall Street Journal)

Economic Developments:

• U.S. Presidential Election: Donald Trump’s re-election has influenced markets, with investors anticipating policy shifts in tariffs, taxes, and government spending. (AOL)

• Federal Reserve: The Federal Reserve’s recent rate cut is under scrutiny, with analysts evaluating its potential impact on economic growth and inflation. (Yahoo Finance)

Corporate News:

• Tesla: Shares surged by 8.19% following Trump’s victory, with expectations of favorable policies for the automotive sector. (Google)

• Berkshire Hathaway: Warren Buffett’s firm reduced its Apple holdings, selling about 25% of its shares, leaving it with $69.9 billion in Apple stock. (The Wall Street Journal)

Global Finance:

• South Korea: Finance Minister Choi Sang-mok stated that authorities are prepared to respond promptly if financial market volatility escalates excessively. (Reuters)

• UK Bond Market: Government debt sales are projected to approach £300 billion this year, the second-highest on record, as the government seeks to fund increased public investment. (The Times)

Investment Insights:

• Technology Stocks: The tech sector experienced significant gains, with companies like Nvidia and Amazon leading the rally ahead of the Federal Reserve’s upcoming decisions. (The Wall Street Journal)

• Cryptocurrency Market: The re-election of a pro-crypto president has bolstered confidence in digital assets, contributing to the recent surge in cryptocurrency values. (The Wall Street Journal)

Upcoming Events:

• Federal Reserve Meeting: Investors are closely monitoring the Federal Reserve’s upcoming meeting for insights into future monetary policy and its implications for markets. (Yahoo Finance)

Stay informed and have a great day!

Solomon Capital