By Park-Elm|
2024-12-03T15:50:31+00:00
December 3rd, 2024|Markets|
- U.S. markets kicked off November with an upbeat reaction to the Presidential election, amid a backdrop of robust economic data and mixed Q3 corporate earnings results. Despite a mid-month pullback, the S&P 500® recovered to post its biggest monthly gain of the year, up 6%.
- Mid- and small-cap stocks soared, with the S&P MidCap 400® and the S&P SmallCap 600® up 9% and 11%, respectively, showcasing a broadening of the market rally. Despite looming uncertainty over potential tariffs and the future trajectory of inflation and Fed rate cuts, VIX® closed the month below the 14 handle, its lowest level since July.
- All large-cap sectors posted gains. Aided by tailwinds including robust consumer spending and hopes of a potentially beneficial regulatory environment, Consumer Discretionary and Financials were the top performers, up 13% and 10%, respectively.
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