Market Action For Last Week
S&P 500 ETF (SPY):
- Closing Price on 11/22/24: $595.51
- Closing Price on 11/29/24: $602.55
- Point Gain/Loss: +7.04
- Percent Gain/Loss: +1.18%
Nasdaq-100 ETF (QQQ):
- Closing Price on 11/22/24: $505.79
- Closing Price on 11/29/24: $509.74
- Point Gain/Loss: +3.95
- Percent Gain/Loss: +0.78%
Russell 2000 ETF (IWM):
- Closing Price on 11/22/24: $238.77
- Closing Price on 11/29/24: $241.87
- Point Gain/Loss: +3.10
- Percent Gain/Loss: +1.30%
Upcoming Major Economic Reports and Potential Market Moving Events
Monday, December 2, 2024:
- ISM Manufacturing PMI at 15:00 (Estimate: 47.5)
Tuesday, December 3, 2024:
- JOLTs Job Openings at 15:00 (Estimate: 7.49 million)
Wednesday, December 4, 2024:
- ISM Services PMI at 15:00 (Estimate: 55.5)
- Factory Orders MoM at 15:00 (Estimate: 0.4%)
- Fed Chair Powell Speech at 18:45
Friday, December 6, 2024:
- Average Hourly Earnings MoM at 13:30 (Estimate: 0.3%)
- Non-Farm Payrolls at 13:30 (Estimate: 183,000)
- Unemployment Rate at 13:30 (Estimate: 4.1%)
Upcoming Major Stock Earnings Reports
Monday, December 2, 2024:
- Zscaler (ZS) - After Market Close
Tuesday, December 3, 2024:
- Salesforce (CRM) - After Market Close
Wednesday, December 4, 2024:
- Synopsys (SNPS) - After Market Close
- Marvell Technology (MRVL) - After Market Close
Thursday, December 5, 2024:
- Lululemon Athletica (LULU) - After Market Close
- Veeva Systems (VEEV) - After Market Close
- Hewlett Packard Enterprise (HPE) - After Market Close
- Cooper Companies (COO) - After Market Close
- Brown-Forman (BF.B) - Before Market Open
Market Outlook
For the next 30 days, the market sentiment remains cautiously bullish. The recent gains in major indices, coupled with strong economic indicators and upcoming earnings reports, suggest continued positive momentum. However, potential risks such as geopolitical tensions and inflation concerns could introduce volatility. The upcoming FOMC meeting and economic data releases will be crucial in shaping market dynamics.