Dow Jones, Nasdaq, S&P 500 weekly preview: Jam packed weak ahead of Thanksgiving
The Dow climbed 426.16 points, or 0.97%, to settle at 44,296.51, marking its highest close ever and extending its winning streak to three sessions. Meanwhile, theOver the week, the Dow advanced around 2%, while both the S&P 500 and Nasdaq saw gains of approximately 1.7%. This performance comes as a reversal from the prior week, when Wall Street's rally following the election showed signs of slowing.
“We also look for continued softness in core capital goods, with orders only up by 0.1% in October and shipments turning positive, rising 0.2% on the month,” strategists added.In addition to PCE and FOMC minutes, several more key economic indicators are set to be released this week, condensed into the first three days before the Thanksgiving holiday.
This week will also see a few earnings reports, though the schedule is lighter than in recent weeks due to the Thanksgiving holiday. Companies set to report include: “The US economy and stock market are doing well. The most widely anticipated recession of all time has been a no-show for a third year. The S&P 500 is up 25.9% ytd and 66.9% since the bull market started on October 12, 2022.
“Historically, good years tend to follow more good years for US equities, and January is when capital gets deployed from the largest asset base. I placed my order for an SPX 7K hat.”“Expensive valuations mean such sensitivity to the macro is likely to continue. Higher volatility is the base case as the new administration’s"Move Fast, Break Things" approach to reinvigorate America risks uncertainty from tariffs, immigration policy and importantly, bond yield movements.
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