Last Week’s Summary
- S&P 500 Index rose 1.08%
- International Equities rose 0.97%
- Emerging Markets fell 0.77%
- U.S. 10-Year Treasury Yield fell to 4.17%
- Initial Jobless Claims stayed at 213k
- GDP stayed at 2.8%
- Personal Income rose to 0.6%
- Personal Spending fell to 0.4%
What to Watch for This Week
- M, 12/2/24 S&P Global US Manufacturing PMI, ISM Manufacturing
- T, 12/3/24 JOLTS Job Openings
- W, 12/4/24 MBA Mortgage Applications, ADP Employment Change
- Th, 12/5/24 Trade Balance, Initial Jobless Claims
- F, 12/6/24 Change in Nonfarm Payrolls, Unemployment Rate, U. of Mich. Sentiment
Weekly Market Recap
U.S. Stocks ended a shortened trading session higher, while Treasury Yields declined across the curve. Speculation that President-elect Donald Trump might moderate his most extreme trade policies weighed on the dollar.
The S&P 500 climbed more than 1% for a second consecutive week, rising 0.6% on Friday to reach fresh record highs. Meanwhile, the 10-Year Treasury Yield fell to 4.17%. Optimism around Trump’s Treasury secretary pick has buoyed U.S. Stocks and Bonds while weakening the dollar, with expectations that tariff policies will remain measured.
The S&P 500 gained 5.7% in November, marking its best month of the year. Investors poured $141 billion into U.S. Equities during the month, the largest Four-Week inflow on record, according to EPFR Global data.
A surge in a handful of tech giants has propelled U.S. Stocks to a 26% year-to-date gain, driven by the prospect of Federal Reserve rate cuts alongside sustained economic growth.
As December begins, market participants turn their attention to upcoming employment data, which could offer critical guidance ahead of the Fed’s final rate decision in two weeks.
60-Second Breakdown:
Redwood Senior Analyst Michael C. Sasaki, CFA® discusses recent market performance and explains this week’s chart.
