{"id":48476,"date":"2024-11-28T19:01:31","date_gmt":"2024-11-28T19:01:31","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/"},"modified":"2024-11-28T19:01:31","modified_gmt":"2024-11-28T19:01:31","slug":"stock-market-recap-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/","title":{"rendered":"Stock Market Recap: Thanksgiving Eve Sees Mixed Performance Amid Tech Weakness"},"content":{"rendered":"<p>As the U.S. markets prepared for the Thanksgiving holiday, Wednesday, November 28, 2024, saw a mixed performance across major indexes. This <b>end-of-day update<\/b> provides a comprehensive look at the current market state, upcoming events, and significant stock movements.<\/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-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#Market_Index_Performance\" >Market Index 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-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#Key_Market_Drivers\" >Key Market Drivers<\/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-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#Major_Stock_News\" >Major Stock News<\/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-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#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-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#Market_Outlook\" >Market Outlook<\/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-thanksgiving-eve-sees-mixed-performance-amid-tech-weakness\/48476\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Index_Performance\"><\/span>Market Index Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The day&#8217;s trading session ended with a slight downturn for major indexes:<\/p>\n<p>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a><\/b> declined 0.38% to 5,998.74, breaking a seven-day winning streak.<br \/>&#8211; The <b>Nasdaq Composite<\/b> lost 0.6%, closing at 19,060.48.<br \/>&#8211; The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/b> slipped 138.25 points, or 0.31%, finishing at 44,722.06.<\/p>\n<p>Despite the day&#8217;s losses, it&#8217;s worth noting that all three major indexes are still up for the week and hovering near all-time highs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Market_Drivers\"><\/span>Key Market Drivers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1. <b>Tech Sector Weakness:<\/b> Large technology companies, which have been strong performers throughout the year, saw some profit-taking. Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), up over 173% in 2024, dropped more than 1% during the session.<\/p>\n<p>2. <b>Inflation Data:<\/b> The Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) price index, the Federal Reserve&#8217;s preferred inflation gauge, rose 0.2% in October and 2.3% year-over-year, aligning with economists&#8217; expectations.<\/p>\n<p>3. <b>Holiday Trading:<\/b> Trading volume was about 20% lower than average due to the approaching Thanksgiving holiday, potentially exacerbating market movements.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_Stock_News\"><\/span>Major Stock News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several notable companies made headlines due to earnings reports and stock movements:<\/p>\n<p>1. <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> both saw significant declines, dropping over 12% and 11% respectively, following weak earnings guidance.<\/p>\n<p>2. <b>Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b> experienced a 0.8% decline, despite being up approximately 60% year-to-date.<\/p>\n<p>3. <b>Macy&#8217;s Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=M\">M<\/a>)<\/b> executives rang the <a href=\"https:\/\/stockmarketwatch.com\/markets\/nyse\/today.aspx\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> opening bell, celebrating the 98th Macy&#8217;s Thanksgiving Day Parade.<\/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 should keep an eye on these upcoming events that could impact market performance:<\/p>\n<p>1. <b>Thanksgiving Holiday:<\/b> U.S. stock markets will be closed on Thursday, November 28, for Thanksgiving and will close early at 1 p.m. EST on Friday, November 29.<\/p>\n<p>2. <b>Black Friday:<\/b> The unofficial start of the holiday shopping season could provide insights into consumer spending trends.<\/p>\n<p>3. <b>End of November Trading:<\/b> As the month concludes, the Dow is on track for its biggest monthly gain of 2024, up more than 7% in November.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Outlook\"><\/span>Market Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While Wednesday&#8217;s session saw some pullback, the overall market sentiment remains positive. The Dow and S&#038;P 500 have recently reached all-time highs, and November has been a strong month for equities. However, investors should remain cautious due to several factors:<\/p>\n<p>1. Potential for profit-taking in high-performing tech stocks.<br \/>2. Ongoing evaluation of inflation data and its impact on Federal Reserve policies.<br \/>3. Geopolitical tensions and their potential effects on global trade.<\/p>\n<p>As we head into the holiday season, market participants will be closely watching consumer spending patterns and any signals from the Federal Reserve regarding future interest rate decisions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The pre-Thanksgiving trading session highlighted the market&#8217;s current state of cautious optimism. While tech stocks faced some headwinds, the broader market remains near record levels. As investors digest the latest economic data and corporate earnings, the focus will shift to holiday consumer behavior and its implications for the economy. Stay tuned for further updates as we navigate through this crucial period for the financial markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the U.S. markets prepared for the Thanksgiving holiday, Wednesday, November 28, 2024, saw a mixed performance across major indexes. 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