U.S. Stocks Gain Over Past Month
Stocks in the U.S. have closed higher for the fourth consecutive week. The Dow Jones Industrial Average gained 117.12 points or 0.33%. The S&P 500 added 0.06%, while the Nasdaq Composite decreased by 0.11%.
Moving Stocks Throughout the Day
The companies making headlines in midday trading include Nvidia, whose shares fell by 1.7% due to a reported delay of a new artificial intelligence chip by next year. Meanwhile, Fisker’s stock jumped by 5% after the announcement of a refiled quarterly report, and solar manufacturers First Solar and SolarEdge declined as the Invesco Solar ETF plummeted by 1%.
Upcoming Strength on Wall Street
Wall Street is anticipated to experience a strong month in the week ahead, with the S&P 500 near key resistance levels at 4,600. Despite some concerns, the index is poised to reach new highs before the year’s end.
Consumer Patience as Holiday Shopping Begins
Holiday shopping may see consumers being more patient this year with Christmas falling on a Monday. CEO Dana Telsey expects that consumers can wait until Christmas, and emphasized companies like Ralph Lauren and Abercrombie driving innovation.
Individual Investors Remain Bullish
Individual investors are feeling bullish about the stock’s outlook over the next six months, with an almost four-month high. This has been accompanied by a four-month low in bearishness among retail investors, marking an optimistic mindset.
S&P 500 Components Reach Record Highs
More than a dozen S&P 500 components reached all-time highs, including Chipotle Mexican Grill, Aflac, Linde, Ingersoll-Rand, Progressive, and Visa.
Dow Heads for First 4-Week Winning Streak Since April
The Dow is nearing its longest weekly winning streak in about half a year, with a significant part of this week’s gains attributed to an upward trend in Boeing.
Thanksgiving Sales Hit Record $5.6 Billion
Online spending hit a record $5.6 billion on Thanksgiving, pointing toward the booming sales in the toy, jewelry, and apparel categories, according to Adobe Analytics.
Walmart and Ulta Viewed as Black Friday Picks
Retailers like Walmart and Ulta are strategically positioned as Black Friday kicks off, vested with the potential to navigate through the holiday season. However, the consumer discretionary sector remains under cautious scrutiny.
Stocks Open Stagnant Friday
Stocks opened with minimal change on Friday, as the Dow Jones Industrial Average inched up 0.1%, while the S&P 500 and Nasdaq Composite experienced minor drops.
Chaos in Oil Markets After Key OPEC+ Meeting Deferred
Oil markets faced turmoil this week following the postponement of the OPEC meeting, leading to fluctuations in U.S. crude prices as traders sought clarity on the supply side.
