The S&P 500 recovered some of its losses from the previous week. More economic data is on deck in the week ahead.
MARKET RECAP
Stocks rose 1.7% after falling over 2% the week before. After spending the first half of the week mostly consolidating, they rallied on Thursday, led by a rotation into cyclical stocks. On Wednesday, Nvidia, which has been the star of the year's bull run thus far, released a better-than-expected earnings report. Nevertheless, the tech sector's performance was mixed. Overall, utilities, industrial services, and non-energy minerals led all sectors in performance, while retail trade, health technology, and technology services lagged. Elsewhere, bitcoin continued to push higher, passing $99,000 on Friday. Gold and oil also rallied, with gold gaining over 4% after falling over 4.5% the week before, and oil 6% after falling nearly 5% the week before.
| Past week | Year-to-date | 5-year | |
| S&P 500 | 1.8% | 25.9% | 92.0% |
| Oil (WTI crude) | 6.0% | 1.2% | 23.3% |
| Gold (New York) | 4.4% | 31.2% | 85.1% |
| Bitcoin | 10.3% | 124.3% | 1305.8% |
Source: Yahoo Finance, as of November 22, 2024.
KEY DATA FOR THE WEEK OF NOVEMBER 25
A host of new economic data is on deck, including a GDP update. The earnings lineup will include retailers, biotech companies, and mining corporations, among others.
| Best Buy ( |
Consumer confidence – Tuesday |
| Kohl's ( |
New home sales – Tuesday |
| Kroger ( |
GDP – Wednesday |
| Kirkland's ( |
Jobless claims – Wednesday |
| Zumiez ( |
International trade in goods – Wednesday |
| Real Brands ( |
EIA petroleum status report – Wednesday |
| See the full earnings calendar (login required). | See the full economic calendar. |
Source: Fidelity.com, as of November 22, 2024.
SCREEN OF THE WEEK
Here are 5 stocks from the Fidelity.com Stock Screener that made a new 52-week high during the week of November 11, 2024:
- Texas Pacific Land (
) - Hubspot (
) - Sezzle (
) - Despegar (
) - RH (
)