SPX 500

Stocks continued with strength in 2024 and with a market-friendly administration taking over in the United States, the backdrop is open for continuation of equity gains.

It was a banner year for stocks and the last time the S&P 500 rallied by this much the index continued with a strong outing in 1999.

The recent bearish trend isn’t confined to the S&P 500. The Dow Jones Industrial Average has experienced its first 10-day losing streak since 1974, shedding nearly 2,900 points over two weeks from its highest to its lowest points.

After a strong performance throughout the year, there are still no major signs of the trend turning bearish for the S&P 500 heading into the final weeks of the 2024. For that reason, we have no reason to adjust our S&P 500 forecast to bearish just yet from a technical point of view, even macro concerns are plentiful.

U.S. stocks are heading to a higher open. US inflation data brought no surprises and bolstered expectations that the Fed would cut rates again next week. CPI rose 2.7% YoY, up from 2.6% in October, and core CPI rose 3.3%. The data cemented expectations that the Fed would cut rates in December, boosting stocks while the USD was unchanged.

It was a slow grind higher for the S&P 500 last week, but the index touched the next major round level of 6100 and there’s no some open and unfilled gap around 6050.

Investors are looking ahead of the all-important non-farm payrolls report on Friday. Ahead of this, there were little signs of waning appetite for risk, keeping the S&P 500 forecast and trend bullish. But as the index starts to drift higher and higher into overbought levels, investors will be wondering when the Trump trade will be fully priced in.

U.S. stocks are edging lower on Tuesday after the S&P 500 and the NASDAQ closed at record levels in the previous session. Sentiment is souring after news that China will begin banning the export of some rare minerals to the US in a tit-for-tat escalation of the tech war

U.S. stocks are mixed after stronger than forecast data and ahead of the key core PCE inflation report. US GDP was revised higher to 1.9% in Q3, up from 1.8%, boosted by solid consumer spending as inflation continued to cool. Meanwhile, jobless fell to 213k. The data points to the US economy being in a good place raising questions over the Fed's ability to cut rates. US core PCE is expected to rise to 2.8% YoY in October.

It’s been a fast-evolving market since the Presidential election three weeks ago. But stocks remain higher, Bitcoin has put in a major move and gold is on its back foot.

U.S. stocks are heading higher, building on recent gains, as investors weigh up the implications of Trump's tariffs on its top trade partners. President-elect Trump said he would impose a 25% tariff on Canadian and Mexican imports and an additional 10% tariff on imports from China. Looking ahead, the minutes of the November Fed meeting will be released later and could provide more insight into the Fed's outlook for rates.