S&P 500 (SPY) Report – 11/20/23

Good morning traders!

The S&P 500 ($SPY) is trading near Friday’s close. Let’s get into it…

It’s the week leading up Thanksgiving, and U.S. stock futures showed minimal changes, indicating a steady start for the markets. Historically, November has been a strong month for the S&P 500, despite occasional volatility around Thanksgiving. 

In the news, Microsoft’s shares saw an increase following the announcement that Sam Altman, former OpenAI chief, would join the company to lead a new AI research team. This move reflects Microsoft’s ongoing commitment to innovation and artificial intelligence.

The stock market had a positive performance in the previous week, with the S&P 500, Dow, and Nasdaq Composite all closing higher. Market optimism remains high, especially after recent data suggested a potential slowdown in U.S. inflation, raising hopes that the Federal Reserve might halt interest rate increases.

Globally, European stock markets showed mixed results, with slight movements in major indexes like the Stoxx 600, FTSE 100, and Germany’s DAX. Retail stocks in Europe were up, anticipating strong sales for the upcoming Black Friday. Additionally, economic fundamentals such as income, employment, and consumption are considered crucial indicators for predicting U.S. presidential election outcomes, more so than market-based measures like equity prices.

Monday Economic Events:
Leading Indicators 10:00am ET
3 and 6 Month Bill Auction 11:30am ET
20 Year Bond Auction 1:00pm ET

Fed Speaker Scheduled:
No Fed Speakers Scheduled

Stock Market Holidays:
Thanksgiving Day- November 23, 2023 – Closed
Early Close – November 24, 2023 – 1:00 p.m.


DailyBubble’s Disclaimer
This article provided by the DailyBubble team should only be considered as informational and/or entertainment by the reader. DailyBubble makes no representation to buy or sell any security or financial instrument within the article. Readers seeking investment advice should seek independent financial advice from a professional, and independently research and verify. The DailyBubble team wrote this article and may express its own opinions therein.

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