Market Monitor November 29

Last update: Dec 1, 2024

Highlights

The S&P500 posted a 5.8% gain in November, its best month of 2024.
Technology stocks such as Apple (+1.1%) and Nvidia (+2.2%) were key drivers, helped by record inflows of $141 billion in U.S. stocks.
In addition, investors were relieved that the FDPR measure, which could limit global exports, is unlikely to be deployed. Chip companies such as Lam Research (+3.2%) and Qualcomm (+1.4%) are also trading higher. However, analysts warn that further restrictions remain possible under the new Trump administration.
Apple reached a record price of $237. Biotech stock Applied Therapeutics, however, plunged 75% after FDA disapproval of a drug.

Up 0.62% today, indicating bullish sentiment.
Strong performance over the last 1 month (5.96%) and 12 months (31.25%), showing positive medium- and long-term trends.

Up 0.88% today.
Momentum is strong in the short term (1 week: 1.93%) and long term (12 months: 30.72%).

Up 0.38% today, slightly lagging compared to SPY and QQQ.
Robust performance in the last 1 month (11.07%), signaling growing interest in small-cap stocks.

Health Care and Information Technology sectors are leading the market with the highest gains. Energy and Materials remain underperformers for the week.

Information Technology, Industrials, and Financials continue to dominate over this period. Utilities, Real Estate, and Materials lag behind.

Information Technology remains the strongest sector, with Industrials and Financials also contributing significantly.
Defensive sectors like Real Estate and Utilities show the weakest performance.

Today, 67.3% of stocks advanced, while only 30.4% declined, showing broad market participation in the rally.

SMA(200): 64.4% of stocks are above their 200-day moving average, indicating strong long-term trends.
All shorter-term SMAs (20, 50, 100 days) also show a significant majority of stocks above these averages, reinforcing the overall bullish sentiment.
New Highs (NH) vs. New Lows (NL): NH: 7.9% versus NL: 0.9%, reflecting a clear upward momentum.

Broad Market Rally: With the majority of stocks advancing and above their key moving averages, the market is showing strength across multiple sectors.
Sector Leadership: Technology and Industrials are consistently outperforming across timeframes, signaling strong growth and economic optimism.
Small-Cap Momentum: Russell 2000's strong performance suggests increasing interest in riskier small-cap stocks, potentially driven by higher risk appetite or economic expansion expectations.