S&P 500 hit its 53rd all-time high this year. Weekly market recap, trading week 48/2024
Summary of the trading week using the most popular posts from the X platform
56,500 - this is the number of views of this content over the last 30 days. This is pretty impressive how fast the overall reach has been growing here and on social media. Unfortunately, inflation has also been rising. The best ways to fight this are investing in financial markets and growing business and its profits.
This is why prices for NEW paid subscribers will go up from the 1st of January 2025 to $19.99 a month and $199 a year. This is still below the pricing of most creators and a decent price for the amount and quality of research you receive. You can secure the current (old) pricing below before December ends.
In this series, you can find financial markets posts with the highest number of interactions from my X platform feed over the most recent week. I am aware that not everybody uses X regularly so I thought it could provide some value to your analysis, and investment process.
This was a low liquidity week and pretty uneventful as many institutional investors took holidays due to Thanksgiving on Thursday. In the meantime, the S&P 500 hit its 53rd all-time high, the second-best year since 2017. Overall, the market sentiment remains historically high.
1) Weekly performance. In the first screenshot attached, you can see last week’s performance of the major US indexes, the VIX volatility index, gold, and Bitcoin.
- S&P 500 increased 1.1%
- Nasdaq index advanced 1.1%
- Dow Jones was up 1.4%
- Russell 2000 (small caps) jumped 1.1%
- VIX fell by 11%
- WTI Crude Oil tumbled 4.4%
- Silver dropped 2.1%
- Gold declined 1.9%
- Bitcoin rose by 0.2%
For the trading week ending Friday 5, key events are:
- US ISM Manufacturing PMI for November on Monday
- US Job Openings for October on Tuesday
- US ISM Services PMI for November on Wednesday
- ADP Nonfarm Employment for November on Wednesday
- US nonfarm payrolls report for November on Friday
- US Consumer Sentiment data on Friday
- ~10 Fed Speeches
Big week ahead for the US job market. On Friday, the November job market report will be released. Analysts expect that 200,000 jobs were created last month, up from 12K in October.
Equally important will be revisions as August and September were adjusted DOWN by 81,000 and 31,000. More details in the below piece:
2) What is happening with the European stock market?