Finance

Stock market today: S&P 500, Dow waver near records ahead of key inflation data

Published

1 year ago

November 27, 2024

Stock market today: S&P 500, Dow waver near records ahead of key inflation data

US stocks paused near record highs on Wednesday as investors digested fresh data that showed inflation made little progress toward the Fed’s 2% target in October.

After clinching record highs on Tuesday, the S&P 500 (^GSPC) fell about 0.1% at the open while the Dow Jones Industrial Average (^DJI) rose less than 0.3%. The tech-heavy Nasdaq Composite (^IXIC) was down about 0.5%.

The mood is muted in the wind-down to the Thanksgiving holiday, which will see markets shut on Thursday and close early on Friday. But the Fed is taking the fore again after being eclipsed somewhat by the debate over the impact of Donald Trump’s tariff plans and Cabinet choices.

The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank’s 2% goal has stalled.

The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.3% from the prior month during October, in line with Wall Street’s expectations for 0.3% and the reading from September. Over the prior year, core prices rose 2.8%, in line with Wall Street’s expectations and above the 2.7% seen in September.

Traders currently see a roughly 34% chance the Fed holds rates steady at that meeting, up from roughly 24% a month before, per the CME FedWatch Tool.

Also out Wednesday, the second estimate of third quarter GDP was unchanged, showing the US economy grew at an annualized rate of 2.8% in the period. Meanwhile, weekly jobless claims continued to move lower with 213,000 unemployment claims filed in the week ending Nov. 23, down from 215,000 the week prior.

Trump on Tuesday tapped Jamieson Greer — a veteran of his first term — as US trade representative. Given Greer was heavily involved in Trump’s original China tariffs, Wall Street is assessing what his role could mean for the big new tariffs promised for the US’s top trading partners.

On the corporate front, Dell (DELL) shares sank over 10% after quarterly revenue fell short amid flagging PC demand. Peer HP’s (HPQ) stock also fell post-earnings, down 8%.

LIVE 6 updates

Key inflation gauge shows price increases stayed flat from prior month

The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank’s 2% goal has stalled.
The core Personal Consumption Expenditures (PCE) index, which strips out food and energy costs and is closely watched by the central bank, rose 0.3% from the prior month during October, in line with Wall Street’s expectations for 0.3% and the reading from September.
Over the prior year, core prices rose 2.8%, in line with Wall Street’s expectations and above the 2.7% seen in September. On a yearly basis, overall PCE increased 2.3%, a pickup from the 2.1% seen in September.
Read more here.
Advertisement
JPMorgan issues S&P target of 6,500 for 2025 as ‘US exceptionalism’ rolls on

Another Wall Street strategist sees a solid backdrop for the US economy and a broadening corporate earnings picture driving stocks higher in the year ahead.
JPMorgan’s global equity strategy team led by Dubravko Lakos-Bujas sees the S&P 500 (^GSPC) hitting 6,500 by the end of 2025, joining the likes of Goldman Sachs and Morgan Stanley, who issued the same target. The target represents about an 8% increase from current levels.
Lakos-Bujas wrote that continued “US exceptionalism,” continued earnings growth, and interest rate cuts from the Federal Reserve will be a tailwind for stocks in the year ahead. He argued the US is likely to remain the “global growth engine with the business cycle in expansion, healthy labor market, broadening of AI-related capital spending, and prospect of robust capital market and deal activity.”
He added, “heightened geopolitical uncertainty and the evolving policy agenda are introducing unusual complexity to the outlook, but opportunities are likely to outweigh risks. The benefit of deregulation and a more business-friendly environment are likely underestimated along with potential for unlocking productivity gains and capital deployment.”
Advertisement
Stocks waver ahead of inflation print

US stocks paused near record highs on Wednesday as investors waited for a reading on the Federal Reserve’s favorite inflation gauge to provide clues to the path of interest rates.
After clinching record highs on Tuesday, the S&P 500 (^GSPC) fell about 0.2% at the open while the Dow Jones Industrial Average (^DJI) rose 0.1%. The tech-heavy Nasdaq Composite (^IXIC) was down about 0.3%.
The October print of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures index, is due for release on Wednesday morning at 10 a.m. ET. The focus is on whether inflation has stalled.
Economists expect annual “core” PCE — which excludes food and energy — to have clocked in at 2.8% in October, up from the 2.7% seen in September.
Weekly jobless claims fall, GDP steady

Weekly jobless claims rose less than expected last week, and hit a seven-month low, as the impact of labor strikes and severe weather continued to abate.
Advertisement

New data from the Department of Labor showed 213,000 initial jobless claims were filed in the week ending Nov. 23, down from the 215,000 the week prior and below the 215,000 economists had expected.
Meanwhile, the number of continuing applications for unemployment benefits hit 1.9 million, up 9,000 from the week prior and the highest level since November 2021.
Elsewhere in economic data, the second estimate of third quarter GDP came in unchanged, once again showing the US economy grew at annualized rate of 2.8%.
Good morning. Here’s what’s happening today.

Advertisement
About those potential Trump tariffs

Shares of automakers General Motors (GM) and Ford (F) were throttled on Tuesday following Trump’s tariff threats toward China, Mexico, and Canada.
GM lost 9%, while Ford dropped 3% as both companies have a strong presence in Mexico.
But automakers aren’t the only companies that stand to be hurt by tariffs, of course.
Think computers and T-shirts!
Here’s what HP Inc. (HPQ) CEO Enrique Lores and Abercrombie & Fitch (ANF) CEO Fran Horowitz told me on the tariff topic.
Advertisement

Enrique Lores
“Some of that [cost of potential tariffs] will have to go to consumers given what is the overall margin that we have in the categories. But again, we need to wait and see what the final tariffs are for us to define what the exact plan is going to be.”
Fran Horowitz
“When we understand truly what’s happening, we will have to make some adjustments, and we will adjust accordingly,It’s exactly what we did in 2018 when we had the same challenge. In 2024 we will not be receiving more than 5% or 6% of our US receipts from China. We’re taking a look at it country by country, but the agility that we’ve built into our supply chain is really what’s going to help us manage through this.”

Click to comment

Finance

BofA revises Harley-Davidson stock price after latest announcement

Published

5 hours ago

May 9, 2026

Press Room

BofA revises Harley-Davidson stock price after latest announcement

Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.

This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.

“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”

Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.

Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.

To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.

Harley-Davidson is going after a younger demographic with its new strategy. Photo by Raivo Sarelainens on Getty Images

What is Harley-Davidson’s “Back to the Bricks” strategy?

Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.

Harley-Davidson “Back to the Bricks” 5-point plan

Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.

Finance

What is Considered a Good Dividend Stock? 2 Financial Stocks That Fit the Bill

Published

17 hours ago

May 9, 2026

Press Room

What is Considered a Good Dividend Stock? 2 Financial Stocks That Fit the Bill

Source: Getty Images

Written by Jitendra Parashar at The Motley Fool Canada

Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.

That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.

Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.

AGF Management stock continues to reward shareholders

AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.

Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.

One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.

In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.

AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.

TD Bank stock remains a dependable dividend giant

Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.

Following a 70% jump over the last year, TD stock currently trades at $148.14 per share and carries a massive market cap of $247 billion. It’s also continuing to provide investors with a quarterly dividend yield of 3%.

TD’s latest results show why it remains a dependable dividend stock. In the February 2026 quarter, the bank’s reported net income jumped 45% YoY to $4 billion, while adjusted earnings rose 16% to a record $4.2 billion.

Similarly, the bank’s Canadian personal and commercial banking segment delivered record revenue and earnings with the help of higher loan and deposit volumes. Meanwhile, its wealth management and insurance business also posted record earnings, while wholesale banking benefited from strong trading and fee income growth.

Notably, TD ended the quarter with a strong Common Equity Tier 1 capital ratio of 14.5%, giving it a solid capital cushion. While the bank continues to spend on U.S. anti-money-laundering remediation and control improvements, its strong earnings base, large customer network, and diversified operations continue to support its dividends.

The post What is Considered a Good Dividend Stock? 2 Financial Stocks That Fit the Bill appeared first on The Motley Fool Canada.

Should you invest $1,000 in Agf Management right now?

Before you buy stock in Agf Management, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Agf Management wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have over $18,000!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 94%* – a market-crushing outperformance compared to 85%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

Get the 10 stocks instantly

* Returns as of April 20th, 2026

More reading

Fool contributor Jitendra Parashar has positions in Toronto-Dominion Bank. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

2026

Finance

UK watchdog says car finance legal challenge hearing unlikely before October

Published

1 day ago

May 8, 2026

Press Room

UK watchdog says car finance legal challenge hearing unlikely before October

Britain’s financial watchdog said on Friday a tribunal hearing on ‌legal challenges to its compensation scheme for mis-sold car loans was unlikely before October, and told lenders to prepare for a possibility that the scheme could be scrapped entirely.