Overview
November saw volatility driven by high valuations of tech stocks, but expectations of interest rate cuts by the Federal Reserve buoyed the end-of-month rebound, marking the largest weekly gain in five months. The S&P 500 continued its streak with a seventh consecutive monthly increase, whereas the tech-heavy Nasdaq experienced a monthly drop for the first time since March, as investors shifted from AI-related stocks to more defensive sectors like healthcare.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
Intel saw a 10% surge, benefiting from speculation that Apple might choose Intel's chips for its M series processors, which positively influenced its stock. Economic data has been sparse, leading to concerns about potential hidden risks within the economy despite the stock market's resilience. The post-Thanksgiving session typically features low liquidity and quiet trading, and today's session was further influenced by a systems issue at the CME exchange that heightened investor caution.
Tomorrow's Economic Indicators
| Release Time | Report |
|---|---|
| 11:45 PM | U.S. November S&P Global Manufacturing PMI |
| Midnight | U.S. November ISM Manufacturing PMI |
General Opinion
The market currently displays a mixed sentiment driven by the anticipation of the Federal Reserve's rate adjustments and profit-taking in key tech stocks. While the S&P 500 remains strong, careful monitoring of upcoming economic indicators and Federal Reserve policies is crucial. Investors are increasingly leaning toward defensive sectors, reflecting underlying economic uncertainties.
