Dow jumps nearly 200 points to record in short session, S&P 500 posts best month of 2024: Live updates
Published On Nov 29, 2024, 7:36 AM
U.S. stock indices, including the S&P 500 and Dow Jones Industrial Average, reached new record highs at the end of November, buoyed by a post-election rally and expectations of interest rate cuts. The Nasdaq Composite also gained significantly as chip stocks surged following news about potential U.S. restrictions on semiconductor sales to China, which were less severe than anticipated. Retail stocks performed well during the Black Friday shopping season. However, while many sectors thrived, gold miners faced challenges and were on track for their worst monthly performance since earlier in the year.
Stock Forecasts
SPY
Positive
The latest bullish momentum in the stock market, along with high expectations for further interest rate cuts, points towards a continued upward trend in equity prices, particularly in sectors like technology and retail.
NVDA
Positive
The ongoing interest in semiconductor companies due to favorable government policies and potential growth from AI and other technologies suggests that stocks like Nvidia and Lam Research will likely continue to gain.
WMT
Positive
Retail and consumer sectors, particularly Walmart, have shown resilience and strong growth during the holiday season, indicating a positive outlook as consumer spending is expected to rise.
GDX
Negative
Despite the recent performance, gold miners are under pressure due to declining gold prices, which may lead to further losses in the VanEck Gold Miners ETF.
Related News
Stock market today: Dow, S&P 500 close at record highs to cap winning month for US stocks
Nov 29, 2024, 2:02 PM
Stocks finished off a winning month of November at record highs to cap a holiday-shortened trading session.
Stock market today: Dow, S&P 500 close at record highs to cap winning month for US stocks
Nov 29, 2024, 2:02 PM
Stocks finished off a winning month of November at record highs to cap a holiday-shortened trading session.
Top states Americans moving to dominated by the South
Nov 29, 2024, 7:00 AM
The National Association of Realtors' annual Migration Trends study for 2024 shows Americans are flocking toward Southern states, and it is not because of the weather.