{"id":48454,"date":"2024-11-25T19:28:34","date_gmt":"2024-11-25T19:28:34","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/"},"modified":"2024-11-25T19:28:34","modified_gmt":"2024-11-25T19:28:34","slug":"market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/","title":{"rendered":"Market Recap: Wall Street Rallies as S&#038;P 500 and Dow Hit Fresh Records"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Major_Indexes_Surge_Amid_Positive_Sentiment\" >Major Indexes Surge Amid Positive Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Market_Movers_and_Shakers\" >Market Movers and Shakers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Upcoming_Earnings_and_Economic_Events\" >Upcoming Earnings and Economic Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Market_Outlook_and_Analyst_Predictions\" >Market Outlook and Analyst Predictions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Bitcoin_Nears_100000_Milestone\" >Bitcoin Nears $100,000 Milestone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-street-rallies-as-sp-500-and-dow-hit-fresh-records\/48454\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Surge_Amid_Positive_Sentiment\"><\/span>Major Indexes Surge Amid Positive Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <b>U.S. stock market<\/b> kicked off the holiday-shortened week on a high note, with major indexes reaching new all-time highs on Monday, November 25, 2024. Investors showed optimism ahead of key economic data releases and the upcoming Thanksgiving holiday.<\/p>\n<p>The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a><\/b> climbed 0.5% to a fresh record, while the <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/b> surged 1%, also reaching unprecedented levels. The <b>Nasdaq Composite<\/b> gained 0.4%, reflecting the ongoing strength in the technology sector.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Movers_and_Shakers\"><\/span>Market Movers and Shakers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Large-cap technology stocks led the charge, with <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b>, <b>Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<\/b>, and <b>Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b> each gaining about 2%. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>, <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b>, and <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b> also advanced, contributing to the broader market rally.<\/p>\n<p>However, <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> experienced a slight setback, dropping about 2% as investors continued to digest the AI chipmaker&#8217;s recent quarterly results.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Earnings_and_Economic_Events\"><\/span>Upcoming Earnings and Economic Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching several high-profile earnings reports scheduled for this week. <b>Dell Technologies (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DELL\">DELL<\/a>)<\/b> and <b>HP Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=HPQ\">HPQ<\/a>)<\/b> are set to report on Tuesday, November 26, after the market close. Analysts expect Dell to post earnings of $2.05 per share on revenue of $24.7 billion.<\/p>\n<p>Other notable companies reporting this week include <b>CrowdStrike (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRWD\">CRWD<\/a>)<\/b>, <b>Autodesk (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ADSK\">ADSK<\/a>)<\/b>, and <b>Best Buy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BBY\">BBY<\/a>)<\/b>.<\/p>\n<p>On the economic front, Wednesday will bring the release of the <b>October personal consumption expenditure (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) price index<\/b>, a key inflation indicator closely watched by the Federal Reserve. Economists expect the core PCE to show a 0.3% month-over-month increase and a 2.8% year-over-year rise.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook_and_Analyst_Predictions\"><\/span>Market Outlook and Analyst Predictions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite concerns about persistent inflation and the potential for higher interest rates, many Wall Street strategists remain optimistic about the market&#8217;s trajectory into 2025. Several firms, including Goldman Sachs and Morgan Stanley, have set their 2025 S&#038;P 500 targets at 6,500, implying a roughly 10% gain from current levels.<\/p>\n<p><b>Tom Hainlin<\/b> of U.S. Bank Asset Management Group noted, &#8220;As we look at all the sequencing of events between election, Fed, inflation, interest rates, consumer spending, so far it lines up relatively supportive of equity prices moving higher into year-end, and into 2025.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_Nears_100000_Milestone\"><\/span>Bitcoin Nears $100,000 Milestone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the cryptocurrency market, <b>Bitcoin<\/b> continued its impressive rally, trading around $96,000 after hitting a record high of approximately $99,800 on Friday. The world&#8217;s largest cryptocurrency has gained about 40% since the recent U.S. election, buoyed by expectations of a crypto-friendly administration and Congress.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market enters a holiday-shortened week, investors should be prepared for potential volatility due to lower trading volumes. The release of the Federal Reserve&#8217;s November meeting minutes and key inflation data could provide further insights into the central bank&#8217;s monetary policy outlook and impact market sentiment.<\/p>\n<p>With the S&#038;P 500 up 25% year-to-date and the Dow Jones Industrial Average outperforming in recent sessions, market participants will be watching closely to see if this momentum can carry through to the end of 2024 and beyond.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Surge Amid Positive Sentiment The U.S. stock market kicked off the holiday-shortened week on a high note, with 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