{"id":48464,"date":"2024-11-26T22:28:43","date_gmt":"2024-11-26T22:28:43","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/"},"modified":"2024-11-26T22:28:43","modified_gmt":"2024-11-26T22:28:43","slug":"stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/","title":{"rendered":"Stock Market Recap: S&#038;P 500 and Dow Jones Hit Record Highs Amid Tariff Talk"},"content":{"rendered":"<p>The U.S. stock market closed on a high note on Tuesday, November 26, 2024, with major indexes reaching new milestones despite concerns over potential tariffs. This <b>stock market recap<\/b> highlights the day&#8217;s key developments and answers the question, &#8220;<b>Why was the market up today?<\/b>&#8220;<\/p>\n<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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Market_Performance\" >Market Performance<\/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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Factors_Driving_the_Rally\" >Factors Driving the Rally<\/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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Tariff_Talk_Impact\" >Tariff Talk Impact<\/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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Notable_Stock_Movements\" >Notable Stock Movements<\/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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Upcoming_Market_Events\" >Upcoming Market Events<\/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\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Bond_and_Crypto_Markets\" >Bond and Crypto Markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Market_Breadth_and_Sentiment\" >Market Breadth and Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-sp-500-and-dow-jones-hit-record-highs-amid-tariff-talk\/48464\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance\"><\/span>Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> climbed 0.6% to 6,021.63, surpassing its previous record set earlier this month. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average added 123.74 points, or 0.3%, closing at a new all-time high of 44,860.31. The tech-heavy Nasdaq Composite gained 0.6%, reaching 19,174.30.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Factors_Driving_the_Rally\"><\/span>Factors Driving the Rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. <b>Treasury Secretary Nomination:<\/b> President-elect Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s nomination of Scott Bessent for Treasury Secretary boosted investor confidence. Markets reacted positively, believing Bessent could guide the economy effectively without sparking inflation.<\/p>\n<p>2. <b>Tech Sector Strength:<\/b> Big Tech stocks played a crucial role in lifting the indexes. Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>) surged 3.2%, while Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>) gained 2.2%, providing significant support to the S&#038;P 500.<\/p>\n<p>3. <b>Consumer Discretionary and Real Estate:<\/b> These sectors were among the day&#8217;s top performers, with the Consumer Discretionary Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLY\">XLY<\/a>) and Real Estate Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLRE\">XLRE<\/a>) showing notable gains.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tariff_Talk_Impact\"><\/span>Tariff Talk Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>President-elect <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#8217;s announcement of plans to impose sweeping new tariffs on Mexico, Canada, and China created some ripples in the market. However, the impact was relatively muted as investors speculated whether these threats would materialize into policy or serve as negotiation tactics.<\/p>\n<p><b>Key points:<\/b><br \/>&#8211; General Motors (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GM\">GM<\/a>) shares fell 9%, and Ford Motor (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=F\">F<\/a>) declined 2.6% due to potential tariff implications.<br \/>&#8211; International markets showed modest reactions, with slight declines in Asian and Canadian indexes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>NVIDIA Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>):<\/b> Down 4.2%<br \/>&#8211; <b>Netflix, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NFLX\">NFLX<\/a>):<\/b> Declined 3.6%<br \/>&#8211; <b>Meta Platforms, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>):<\/b> Gained 1.1%<br \/>&#8211; <b>Apple Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>):<\/b> Rose 1.1%<br \/>&#8211; <b>J.M. Smucker:<\/b> Climbed 5.7% after exceeding quarterly expectations<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events\"><\/span>Upcoming Market Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are looking ahead to several key economic reports this week:<\/p>\n<p>1. Consumer confidence reading (November 27)<br \/>2. October&#8217;s personal consumption expenditures price index (November 28)<br \/>3. Federal Reserve&#8217;s November meeting minutes release (November 28)<br \/>4. Jobless claims report (November 27, due to Thanksgiving holiday)<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bond_and_Crypto_Markets\"><\/span>Bond and Crypto Markets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; The 10-year Treasury yield inched up to 4.29% from 4.28%.<br \/>&#8211; Bitcoin retreated from its recent high of over $99,000, trading around $91,000.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Breadth_and_Sentiment\"><\/span>Market Breadth and Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Overall market breadth was positive, with more stocks rising than falling in the S&#038;P 500. The CBOE Volatility Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VIX\">VIX<\/a>), often referred to as the fear gauge, decreased by 4.20% to 14.60, indicating reduced market anxiety.<\/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 heads into the Thanksgiving holiday, investors will be closely monitoring the upcoming economic data releases and any developments regarding the proposed tariffs. The stock market will be closed on Thursday for Thanksgiving and will have a shortened session on Friday.<\/p>\n<p>In conclusion, the <b>stock market&#8217;s upward momentum<\/b> on November 26, 2024, was driven by a combination of positive sentiment surrounding the Treasury Secretary nomination, strong performance in the tech and consumer sectors, and a measured response to potential trade policy changes. As always, investors should stay informed about upcoming economic indicators and geopolitical events that could impact market dynamics in the coming days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. stock market closed on a high note on Tuesday, November 26, 2024, with major indexes reaching new milestones 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