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Closing Market Summary: Stocks post strong end to November amid rate-cut hopes

Stocks finished the week solidly higher as the market continues to relish in its reinvigorated odds for a December rate cut. 

The major averages all reclaimed their 50-day moving averages, with the Nasdaq Composite up 4.9% WTD, the S&P 500 up 3.7% WTD, and the DJIA up 3.0% WTD. Semiconductors surged, reflecting strong rebounds across chipmakers.

Mega-cap growth names led the advance, with notable gains in tech and AI-related stocks. The Information Technology (+4.3% WTD), Communication Services (+5.9% WTD), and Consumer Discretionary (+5.3% WTD) sectors were standout performers, while all eleven S&P 500 sectors finished the week in positive territory. Though the health care sector (+1.9% WTD) was not at the top of the weekly standings, it added to its impressive run in November that saw it finish 9.1% higher for the month.

Small- and mid-cap stocks also participated in the rally, with the Russell 2000 up 5.5% WTD and the S&P Mid Cap 400 up 3.9% WTD.

This week saw the major averages reclaim much of the ground that was lost earlier in November, as investors responded to increasing confidence that the Federal Reserve may ease policy in December, driven primarily by remarks from Fed Governors and regional Presidents signaling support for a rate cut.

  • Russell 2000: +5.5% WTD
  • S&P Mid Cap 400: +3.9% WTD
  • Nasdaq Composite: +4.9% WTD
  • S&P 500: +3.7% WTD
  • DJIA: +3.0% WTD

 

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Past performance is not a guarantee of future results. Indices are unmanaged and one cannot invest directly in an index. Diversification does not guarantee investment returns and does not eliminate the risk of loss.

Data and rates used were indicative of market conditions as of the date shown and compiled by Briefing.com. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. References to specific securities, asset classes and financial markets are for illustrative purposes only and do not constitute a solicitation, offer, or recommendation to purchase or sell a security. S&P 500 Index is a market index generally considered representative of the stock market as a whole. The index focuses on the large-cap segment of the U.S. equities market. Each company’s security affects the index in proportion to its market value. NASDAQ Composite Index is a market value-weighted index that measures all NASDAQ domestic and non-U.S. based common stocks listed on the NASDAQ stock market. Dow Jones Industrial Average is a widely used indicator of the overall condition of the stock market, a price-weighted average of 30 actively traded blue chip stocks, primarily industrials, but also includes financial, leisure and other service-oriented firms. Russell 2000 Index measures the performance of the smallest 2,000 companies in the Russell 3000 Index of the 3,000 largest U.S. companies in terms of market capitalization. MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

Park Avenue Securities LLC (PAS) is a wholly owned subsidiary of The Guardian Life Insurance Company of America (Guardian). PAS is a registered broker/dealer offering competitive investment products, as well as a registered investment advisor offering financial planning and investment advisory services. PAS is a member of FINRA and SIPC.

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8076115.24 (Exp. 3/26)

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