Published on 30 Nov 2023 on Benzinga
Nasdaq, S&P 500 Futures Rally As Market Looks Set To Finish A Strong November On Upbeat Note -...
Stocks appear on track to open Thursday’s session on a firm note. However, the trading direction will likely hinge on the personal consumption expenditure index, which is deemed the Fed’s preferred inflation gauge. With the OPEC+ set to announce its decision on oil output, oil and energy stocks could be in the spotlight. Earnings news, especially from the tech sector, has mostly been positive.
Data reinforcing the market’s timeline for a fed rate cut could help the stocks rally in the final session of a strong November. This should bode well as the market enters a seasonally stronger month when it typically benefits from the Santa Claus rally.