Market Monitor December 03

Highlights

• Investors are awaiting labor market data and the Fed’s Beige Book, while market strategist Matt Maley warns of potential volatility due to overly optimistic sentiment.

• Palantir rose 6.9% and appears well-positioned for inclusion in the Nasdaq 100.

• Meta Platforms hit a record high of $613.65, driven by confidence in AI investments.

• U.S. Steel dropped 8% after Donald Trump strongly opposed its acquisition by Nippon Steel.

• PSQ Holdings soared an impressive 270% following the announcement that Donald Trump Jr. will join its board of directors.

Market Performance Overview

SPY (S&P 500):

• Up 0.18% on the day.
• Short-Term Trend: Positive with 1.35% gains over the week and 11.71% gains over three months.
• Long-Term Trend: Robust with a 31.17% gain over the last 12 months.

QQQ (Nasdaq 100 ETF):

• Advanced 1.1% on the day.
• Short-Term Trend: Leading performance with 1.88% gains over the week and 14.84% gains over three months.
• Long-Term Trend: Strong growth of 31.39% over 12 months.

IWM (Russell 2000 ETF):

• Slight decline by -0.05% on the day, reflecting minor underperformance among smaller-cap stocks.
• Short-Term Trend: Positive with 1.25% gains over the week and 16.28% gains over three months.
• Long-Term Trend: Solid with a 29.42% gain over the last year.

Sector Performance

1-Week

• Top-performing sectors include Information Technology, Communication Services and Health Care.
• Real Estate, Financials and Utilities were among the sectors that lagged significantly with a negative performance.

1-Month

• Leaders: Information Technology and Industrials, both showing substantial growth.
• Laggards: Real Estate and Consumer Staples with modest or minimal gains.

3-Month

• Strongest sectors: Information Technology (+30%), Industrials, and Consumer Discretionary all saw significant growth.
• Weakest sectors: Real Estate and Materials showed minimal growth, lagging behind the broader market.

All info available on our Sector Performance page

Historical Breadth Numbers

Market Breadth Metrics:

• Advancing stocks: 38.9%, Decliners: 57.9%, indicating a day of negative breadth.
• SMA Indicators: Bullish trends persist, with 66.8% of stocks above their 20-day moving average.
• The NH/NL ratio (5.8/1.1) remains strongly bullish, as stocks achieving new highs significantly outpace those hitting new lows, reflecting overall market strength.

All info available on our Market Monitor page