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Check out our next “State of the Market,” on Monday, 12/16.
Sizing Up the S&P 500
S&P 500 approaches 6,100 after holding last week’s low
RSI near overbought is potentially consistent with uptrends
Breadth narrows sharply as megacaps reclaim leadership
S&P 500 potentially headed for back-to-back +20% years for 1st time since 1997-1998.
VIX remaining under 15
Megacap AI News
Gene Munster: GM’s exit from Robotaxis boosts TSLA/GOOGL, hurts UBER/LYFT
Wedbush: “Christmas came early for the tech world” with Lina Khan exiting FTC
The Information: AAPL & AVGO developing AI server chips
Apple Intelligence adds ChatGPT to Siri in latest iOS update
GOOGL jumps on fewer regulatory fears, Willow quantum chip
RDDT emerges as AI player with licensed content for model training
AMZN bolsters AI with new products, partnerships
CRM jumps on Agentforce traction
Other Points
November CPI inline. Owners’ equivalent rent and rent climbs at slowest pace since April 2021.
Gold jumps as PBoC buys 5 tons of bullion
Barclays goes negative on housing amid incentives
Greenhaus of Solus, Stoltfus of Oppenheimer, Harvey of Wells Fargo see SPX above 7,000 next year
Jefferies targets 2715 (+13%) on Russell 2000 in 2025
Post-election confidence bump:
NFIB: Small business sentiment highest in 3-1/2 years
NY Fed: Consumers expect higher inflation but also higher earnings
Upcoming Events
Earnings this afternoon: AVGO COST
Tuesday 12/17: Retail sales
Wednesday 12/18: Housing starts/building permits, **FOMC** + Dot plot
Earnings: MU
Thursday 12/19: PCE, jobless claims
Standardized Performances for ETF mentioned above
ETF
1 Year
5 Years
10 Years
SPDR S&P 500 ETF (SPY)
+32.02%
+91.71%
+190.81%
As of November 29, 2024. Based on TradeStation Data.
Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision.
Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.
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