Stock futures are looking up as the market tries to recover ahead of Thanksgiving week after facing some tough times. On Monday morning, the Dow Jones Industrial Average saw a rise of 124 points, or 0.27%. The S&P 500 and Nasdaq-100 also gained, increasing by 0.52% and 0.75%, respectively. Trading will be lighter soon since the market closes on Thanksgiving Day and shuts early on Friday.
This small rebound follows a rough start to November. The head of the New York Federal Reserve hinted at a potential interest rate cut in December, which gave investors a glimmer of hope. However, the market has struggled this month due to concerns over inflated valuations in artificial intelligence-related stocks.
Last week, the S&P 500 dipped by 2%, making its total decline for November reach 3.5%. The Nasdaq Composite fell by 2.7%, marking a 6.1% drop this month, while the Dow dropped 1.9%, down 2.8% overall for November.
Looking ahead, the rest of the month might be rocky. With fewer traders around and not much news to drive changes, we could see more ups and downs. “Investors hate noise. They crave certainty, and the market simply cannot deliver that right now,” noted Mark Malek, CIO at Siebert Financial.
This week, important reports like U.S. retail sales and the Producer Price Index (PPI) will be released, which could influence the market’s direction as we approach the Fed’s end-of-year meeting.
Experts are also watching trends in consumer behavior. According to a recent survey by the National Retail Federation, 55% of consumers plan to start their holiday shopping before Thanksgiving—a clear sign that while markets may fluctuate, consumer sentiment remains strong.
As we navigate through these uncertain times, it’s crucial to stay informed. For deeper insights on market trends, you can refer to this article from CNBC.
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