Critical Level For S&P 500 To Take Note! π
The S&P 500 Index, as closely followed by the SPDR S&P 500 ETF Trust (NYSE:SPY), ended 2.2% up for the week to 4,513 points, hovering near a crucial technical level. Large-cap tech stocks, as tracked by the Invesco QQQ Trust (NASDAQ:QQQ), were up 2% for the week.
S&P 500 approaching critical level next week
Every of the eleven S&P 500βs sectors posted a positive weekly performance. Real Estate Select Sector SPDR Fund (NYSE:XLRE) and the Materials Select Sector SPDR Fund (NYSE:XLB), up 4.5% and 3.6% respectively, were among the best performers.
Long-term Treasuries, as monitored through the popular iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT), rose 2.3% this week, marking their fourth consecutive week of positive performance as yields decline.
Hot tip 1: Does Thanksgiving Week Cook Up Stock Market Gains? Thanksgiving week sees an average S&P 500 gain of about 0.6%, outperforming other weeks of the year, yet analysts warn the effect is typically short-lived.
Hot tip 2: What To Watch In The Week Ahead: The release of the minutes from the Federal Reserveβs Open Market Committee meeting in November, scheduled for Tuesday, stands as the weekβs focal point. Investors will keenly analyze these minutes for any broad consensus on the end of Fed rate hikes and insights into how policymakers view the economic outlook.
Janet confirms a soft landing with Jerome?
Hot tip 3: Upcoming Earnings To Watch: Attention is squarely focused on semiconductor stock Nvidia Corp. (NASDAQ:NVDA)βs third-quarter earnings, set for release in the aftermarket session Tuesday.
The week will also see other major players sharing their financials, with Loweβs Companies Inc. (NYSE:LOWE) and Analog Devices Inc. (NASDAQ:ADI) reporting on Tuesday and Deere & Company (NYSE:DE) on Wednesday.
Weekly options trade summary
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Modify on 2023-11-19 03:05
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Loading every dip AH!! Santa rally real Jim been short since 430 πππππ you are the reason CPI squeezed and even MB closed his short! Get WTECKED 460 turkey day
We may end 2023 at all time highs, buy the pullback and enjoy the ride. Have a great weekend!
now that nov monthly options are over let's see some normal trading here.