Why Is Emerson Electric (EMR) Stock Rocketing Higher Today
What Happened?
Shares of engineering and automation solutions company Emerson (NYSE:EMR) jumped 8.3% in the afternoon session after stocks rallied as Republican party candidate Donald Trump was declared the winner of the 2024 US presidential election. For industrials stocks, President-elect Trump is considered more pro-business and a defender of American industrial interests. This could generally lead to a more robust capital expenditures and investment environment.
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What The Market Is Telling Us
Emerson Electric’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Emerson Electric is up 32.4% since the beginning of the year, and at $126.91 per share, has set a new 52-week high. Investors who bought $1,000 worth of Emerson Electric’s shares 5 years ago would now be looking at an investment worth $1,724.
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