Stocks close November on high with record gains, tech lags post-election, Marvell and Lululemon earnings awaited

From Nasdaq: 2024-12-04 05:00:00

Stocks closed November on a high, with all major US indexes posting gains. S&P 500 and Dow hit record highs, Nasdaq close behind. November saw S&P climb 5.73%, Nasdaq 6.21%, and Dow 7.54%. Sector rotation evident, tech lagging post-election. Marvell Technology, Lululemon earnings reports awaited.

Historical data supports December gains, especially in election years. December ranks third-best month for Dow, S&P 500, and Nasdaq. Christmas month rarely sees big declines. Prospects of year-end rally look good. S&P 500 up 25% in 2024. Zacks Investment Ideas highlight top stocks for potential gains.

Black Friday sales up 3.4%, online sales surged 14.6%. Inflation on downward trend. Fed prefers gradual rate cuts. GDP growth at 2.8%. Job market holding up. Unemployment benefits filings down to 213,000. November jobs report expected to show 214,000 new jobs added.

Block, Amazon, Tesla in spotlight for December. Block shares hit 52-week high post-Black Friday. Amazon’s holiday shopping event breaks records. Tesla faces setback as CEO’s compensation package blocked. Potential for stock growth ahead. Market outlook positive for year-end. Zacks offers top stock picks for potential gains.



Read more at Nasdaq: Zacks Investment Ideas feature highlights: Marvell Technology, Lululemon, Block, Amazon and Tesla