From Nasdaq: 2024-12-02 15:10:00

In November 2024, U.S. equities rallied post-election, with the S&P 500 and Russell 2000 hitting all-time highs. The GOP sweep of the elections led to market optimism for lower taxes and economic growth. The Fed cut rates by 25bps, with economic data showing growth and inflation in line with expectations.

Holiday sales saw a 3.4% increase in retail sales compared to 2023, with e-commerce sales rising by 14.6%. The National Retail Federation forecasts a 2.5% – 3.5% increase in holiday spending for November and December. Earnings for Q3’24 showed an average 6.91% upside beat and an 8.17% earnings growth rate.

WTI crude oil prices have been trading near three-year lows, with potential breakdown below $66 support. The U.S. Dollar rallied in November, with expectations of further gains as Trump’s tax cuts are implemented. Looking ahead, the focus is on the November nonfarm payrolls report and the upcoming FOMC meeting in December. Nasdaq warns companies about potential dilution due to fractional shares in reverse splits.



Read more at Nasdaq:: November 2024 Review and Outlook