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U.S. stocks have a 12% premium due to higher growth outlook, energy security, and AI investment cycle. Valuation may not tell the whole story.

Why Are US Stocks More Expensive Than European Equities? Here Is What &#39;Justifies The Premium,&#39; Analysts Reveal

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At ECB&#39;s meeting, Lagarde opted to keep key interest rates unchanged, and signaled no rate cuts. Euro rose while European stocks paused, aided by euro strength.

ECB President Lagarde Defies Powell&#39;s Dovish Stance: &#39;We Should Absolutely Not Lower Our Guard&#39;

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Kicking off the new month, Wall Street continued its strong November momentum, with major U.S. stocks rallying on Friday. 

Stocks, Gold, Bonds Rally Further, Dollars Tumbles As Traders Anticipate Fed Cuts: What&#39;s Driving Markets Friday?

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Shares of Europe-related ETFs are trading lower amid weakness in US markets following hotter-than-expected March inflation data, which has weighed on global markets.

U.S. stocks are trading at more expensive valuations compared to European equities. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) carries a forward Price-to-Earnings (P/E) ratio of 21x, standing 50% higher than the SPDR EURO STOXX 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>).
Bank of America analysts Ohsung Kwon and Savita Subramanian suggested the initial sticker shock from the S&amp;P 500&#8217;s valuation may not <a href="https://www.benzinga.com/topic/expert-ideas">tell the whole story.</a>
&#8220;We hear &#8216;the S&amp;P 500 is egregiously expensive vs. Europe.&#8217; At first glance, it is true,&#8221; analysts wrote.
Yet, the valuation premium of U.S. stocks over European equities is not as straightforward as it appears. Once adjusted for sector composition and taking into account growth differentials, energy security and the potential from the AI investment cycle, the premium is largely justifiable.
<h1 class="wp-block-heading">US Stocks More Expensive Than European Ones? Here Is The Reason</h1>
According to their analysis, three-quarters of the S&amp;P 500&#8217;s valuation premium can be attributed to the index&#8217;s heavier weighting in asset-light sectors, such as Technology. Once adjusted for sector composition, the premium narrows to a mere 12%.
This adjusted premium is closely linked to the growth differentials between the U.S. and Europe. 
The current 12% premium implies that the U.S. economy is expected to outperform the European economy by 2.6 percentage points this year, aligning closely with forecasts (+2.7% for the U.S. vs. +0.4% for Europe). 
Factors like energy security and geopolitical risks further contribute to a more stable growth outlook for the U.S., supporting the valuation premium.
The current premium of 12% implies the U.S. economy is outgrowing the European economy by 2.6ppt this year, just slightly higher than our house forecasts of +2.7% vs. +0.4%, respectively. Energy security in the U.S. is also a major advantage over Europe, especially with brewing geopolitical risks. 
&#8220;We believe the better (and likely more stable) growth outlook in the U.S. justifies the premium,&#8221; analysts said.
Moreover, a burgeoning AI investment cycle in the U.S. is anticipated to drive a robust earnings cycle over the next few years, with projections of +12% in 2024 and +10% in 2025. This contrasts with a more tepid outlook for Europe, where a 9% decline in earnings per share (EPS) is expected in 2024, followed by a modest 3% growth in 2025.
Historically, the S&amp;P 500 has demonstrated stronger and more stable earnings growth as compared to European stocks, with a 7.3% annual EPS growth over the past decade — nearly double Europe&#8217;s +3.8%/yr. The S&amp;P 500 has also seen lower earnings volatility, with the standard deviation of earnings growth dropping to 8% over the last decade, compared to 18% for Europe.
Read Now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37915971/apple-analysts-unmoved-by-antitrust-lawsuit-unmatched-brand-strength">Apple Analysts Unmoved By Antitrust Lawsuit: &#8216;Unmatched Brand Strength&#8217;</a>
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Why Are US Stocks More Expensive Than European Equities? Here Is What 'Justifies The Premium,' Analysts Reveal

European stock ETFs are higher following the ECB's meeting and rate decision.

Investors hoping for European Central Bank (ECB) President Christine Lagarde to signal a path towards interest rate cuts in 2024, in line with Federal Reserve Chair Jerome Powell&#8216;s previous day remarks, found themselves recalibrating these expectations following her hawkish <a href="https://www.benzinga.com/topic/europe">press conference on Thursday. </a>
At its final meeting of the year, the ECB opted to keep its key interest rates unchanged, marking the second straight hold and likely signaling that the end of the tightening cycle began in July 2022. However, the similarities with the Fed&#8217;s meeting ended there. 
While Powell subtly opened the door to future rate reductions, Lagarde&#8217;s narrative was decidedly different.
Read also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36227799/feds-unexpected-dovish-signals-spark-market-euphoria-economists-weigh-in">Fed&#8217;s Unexpected Dovish Signals Spark Market Euphoria: Economists Weigh In</a>
<h2 class="wp-block-heading">Lagarde Doesn&#8217;t Lower The Guard</h2>
&#8220;We should absolutely not lower our guard,&#8221; Lagarde asserted, countering the anticipations of market participants who were speculating on potential ECB rate cuts mirroring the Fed&#8217;s direction. 
She clarified that the ECB&#8217;s policy-making process did not entertain discussions on rate cuts and is not uninfluenced by market speculations or temporal pressures.
Lagarde stressed that the ECB will continue to be guided by a data-dependent approach in determining the appropriate level and duration of restrictions.
She stated that if the key ECB interest rates remain at their current levels for an extended period, they would &#8220;make a substantial contribution to the return of 2% inflation.&#8221;
&#8220;There&#8217;s a whole beach in between a hike and a cut&#8221; and that is a hold, Lagarde said. 
In conjunction with the decision to hold rates steady and provide a firm stance against future rate cuts, the ECB has also declared its intention to initiate active sales of securities acquired under the Pandemic Emergency Purchase Programme, proceeding at a pace of €7.5 billion monthly.
The ECB also unveiled its macroeconomic projections for the upcoming years. Headline inflation has been downwardly revised from prior estimates, with Frankfurt now expecting it to average 5.4% in 2023, 2.7% in 2024, 2.1% in 2025 and 1.9% in 2026.
Economic growth is expected to show a modest uptick from 0.6% in 2023 to 0.8% in 2024, leading up to 1.5% for 2025 and beyond.
<h2 class="wp-block-heading">Euro Strengthens, European Stocks Pause</h2>
After Lagarde&#8217;s remarks, the euro-dollar exchange rate, as tracked by the Invesco CurrencyShares Euro Currency Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>), rose to 101.52, up 1%. 
On the contrary, European equities flipped to the downside, likely impacted by the disappointing remarks regarding potential rate cuts. 
Currency-unhedged exchange-traded funds (ETFs) tracking European stocks such as the SPDR DJ Euro Stoxx 50 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), the Global X DAX Germany ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAX#NASDAQ">DAX</a>), the iShares MSCI Italy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWI#NYSE">EWI</a>), and the MSCI France Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>), still managed to hold on minor gains for the sessions, aided by the strength of the euro. 
Now read: <a href="https://www.benzinga.com/markets/equities/23/12/36235965/with-fed-rate-cuts-on-the-horizon-equity-markets-soar-dollar-weakens-10-year-treasury-yield-fall">With Fed Rate Cuts On The Horizon, Equity Markets Soar, Dollar Weakens, 10-Year Treasury Yield Falls Below 4%</a>
Photo: Shutterstock

ECB President Lagarde Defies Powell's Dovish Stance: 'We Should Absolutely Not Lower Our Guard'

Kicking off the new month, Wall Street continued its strong November momentum, with major U.S. stocks rallying on Friday. 
The S&amp;P 500, Dow Jones, and Nasdaq indices are all set for their fifth consecutive week of positive movement. Investor optimism further improved, driven by growing speculation of Fed rate cuts in 2024, despite Fed Chair <a href="https://www.benzinga.com/economics/macro-economic-events/23/12/36047939/fed-chair-powell-remains-cautious-premature-to-declare-victory-on-inflation-prepa">Powell&#8217;s cautious remarks.</a>
The <a href="https://www.benzinga.com/markets/equities/23/12/36046529/us-manufacturing-suffers-13-month-contraction-streak-in-november-falling-short-of-forecasts">ISM manufacturing</a> activity slowed more than predicted in November, contributing to a marked drop in Treasury yields. 
According to CME Group Fed Watch tool, fed futures are currently anticipating the first interest rate cut in March 2024, with a probability of 60%. Furthermore, speculators are factoring in a total of five rate cuts by December 2024, with a probability of 72%.
The U.S. dollar index (DXY) fell 0.4%, partially erasing Thursday&#8217;s gain. Gold, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), continued to shine, with the precious metal surging by 1.5% to reach $2,070 per ounce, coming tantalizingly close to its all-time highs.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.22%</td>
<td>15,984.29</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.61%</td>
<td>4,597.30</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.79%</td>
<td>36,202.42</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.24%</td>
<td>1,853.38</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) rose 0.5% to $458.84. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) gained 0.7% to&nbsp;$362.69.&nbsp; </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) edged 0.29% higher to $390.00. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 2.5% to $184.17, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
Chart Of The Day: S&amp;P 500 Index Notches 5th Week Of Gains, Tests July 2023&#8217;s Highs
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/01142757/SPX_2023-12-01_18-26-53_d1ef2-1024x723.png" alt="" class="wp-image-154039" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/01142757/SPX_2023-12-01_18-26-53_d1ef2-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/01142757/SPX_2023-12-01_18-26-53_d1ef2-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/01142757/SPX_2023-12-01_18-26-53_d1ef2-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/01142757/SPX_2023-12-01_18-26-53_d1ef2.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Each S&amp;P 500&#8217;s equity sector traded in the green on Friday. Real estate and materials, as tracked by the Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) and the Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>), were the notable gainers, up 1.7% and 1.5%, respectively. 
Technology underperformed, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) inching only 0.1% higher. Also the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was a laggard, flat for the day. 
Industry-wise, regional banks, as tracked by the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) rallied 4.7%. Semiconductors, as monitored through the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>), were unchanged for the day.
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) fell about 5% following its quarterly results announcement. </li>
<li>Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) fell about 6% in reaction to its earnings. </li>
<li>Other stocks moving on earnings news are PagerDuty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) (down 2%, Ulta Beauty, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ulta#NASDAQ">ULTA</a>) (up about 11%), and UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) (up over 26%).</li>
<li>Pfizer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NASDAQ">PFE</a>) fell over 4%, hitting lows last seen in late March 2020, as the healthcare giant announced to halt trials of its weight loss drug, danuglipron, due to reported side effects among participants. </li>
<li>SoFi Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) rallied 7% after Cathie Wood&#8217;s decision to purchase $1.5 million worth of SOFI shares. </li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 1% following lukewarm reception to its Cybertruck following Thursday&#8217;s delivery event.</li>
</ul>
<h2 class="wp-block-heading">Commodities, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the performance of the light sweet crude, was 0.6% lower. 
European equity indices ended Friday positively. The SPDR DJ Euro STOXX 50 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.7%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.8% higher to $38,781, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 1.9% to $2,093. 
Shanthi Rexaline contributed to this report.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36049175/cybertruck-a-moonshot-for-tesla-divisive-new-ev-represents-5-of-revenue-zero-profit">Cybertruck A &#8216;Moonshot&#8217; For Tesla? Divisive New EV Represents 5% Of Revenue, Zero Profit In 2025 For Automaker: Analysts</a>

Stocks, Gold, Bonds Rally Further, Dollars Tumbles As Traders Anticipate Fed Cuts: What's Driving Markets Friday?

Thursday&#8217;s trading session on Wall Street presents a mixed picture, characterized by notable fluctuations in major indices. While tech-heavy benchmarks like the S&amp;P 500 and the Nasdaq 100 are experiencing declines, blue-chip stocks and small caps are treading the <a href="https://www.benzinga.com/markets">path of marginal gains.</a>
The market mood remains somewhat subdued in the wake of the Federal Reserve&#8217;s favored measure of inflation delivering a relatively uneventful report. 
The annual Personal Consumption Expenditures (PCE) inflation rate in the United States has eased to 3% in October 2023, aligning with analysts&#8217; expectations and reaching levels not observed since March 2021. This marks a decline from the previous September&#8217;s figure of 3.4%. Monthly, the PCE remained stagnant, coming in below the expected 0.1%. 
WTI crude oil prices experienced a highly volatile session, dropping to as low as $75 per barrel before recovering to $76.9 at the time of this writing. While the OPEC+ cartel collectively agreed to implement an additional 1 million barrel-a-day reduction in oil output, the details of individual member cuts are yet to be disclosed. Meanwhile, Brazil is set to become a member of the OPEC+ group starting from January 2024. 
Treasury yields saw an increase, and bond prices moved lower. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) fell 0.8%. The dollar surged 0.6%, aided by weaker-than-expected inflation in the euro area, rekindling speculations of ECB rate cuts next year. 
<h2 class="wp-block-heading">Performance Of US Stock Indices Thursday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.77%</td>
<td>15,865.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.22%</td>
<td>4,550.21</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.79%</td>
<td>35,708.08</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.24%</td>
<td>1,808.05</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) edged 0.1% down to $454.28. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.8% to&nbsp;$357.37.&nbsp; </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) fell 0.68% to $387.12. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $179.95, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
Chart Of The Day: OPEC+ Fails To Boost Oil Prices
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30135844/USOILSPOT_2023-11-30_17-58-15_8a164-1024x723.png" alt="" class="wp-image-153323" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30135844/USOILSPOT_2023-11-30_17-58-15_8a164-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30135844/USOILSPOT_2023-11-30_17-58-15_8a164-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30135844/USOILSPOT_2023-11-30_17-58-15_8a164-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/30135844/USOILSPOT_2023-11-30_17-58-15_8a164.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Sector-wise, financials and healthcare rose the most, with the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) and the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>), up 0.6% and 0.7%, respectively. 
Growth-linked sectors such as the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) were the underperformers, down 1.2%, 0.4% and 0.5%, respectively. 
Industry-wise, gains were concentrated in biotech companies, with the SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) up 2.5%
Semiconductors were the main laggard, with the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) down 1.7%.
<h2 class="wp-block-heading">4,200 Points For S&amp;P 500 Index</h2>
Among the major investment firms that have released their outlooks for the U.S. stock market in 2024, JPMorgan Chase &amp; Co. stands out with a bearish stance. The firm&#8217;s analysts forecast a price target of 4,200 points for the S&amp;P 500 index, implying an 8% decline from current prices. 
JPMorgan&#8217;s view is rooted in valuations deemed excessively high relative to fundamentals and a pessimistic outlook on the earnings trend of American companies.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/36029153/chilling-2024-s-p-500-outlook-why-jpmorgan-analysts-project-nightmare-scenario-for-">Chilling 2024 S&amp;P 500 Outlook: Why JPMorgan Analysts Project Nightmare Scenario For Stocks</a>
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Stocks reacting to earnings include Okta, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) (down over 4%), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) (up over 7%), Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) (up over 6%), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) (up over 5%), Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) (up nearly 9%), The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) (up over 2%) and Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) (up over 16%). </li>
<li>Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell over 3%, as company announced a weaker profit guidance due to UAW strikes. </li>
<li>Hewlett Packard Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) rose nearly 2% after announcing on Thursday that it has broadened its partnership with chipmaker Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to develop an enterprise computing solution tailored for generative artificial intelligence. The semiconductor giant fell 3.2%. </li>
<li>Those reporting after the market close include Ambarella, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMBA#NASDAQ">AMBA</a>), Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), PagerDuty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>), Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>), UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) and Zumiez Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZUMZ#NASDAQ">ZUMZ</a>).</li>
</ul>
<h2 class="wp-block-heading">Commodities, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the performance of light sweet crude, was 1.5% lower. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), inched 0.3% lower to $2,037/oz. Silver edged 0.9% higher to $25.23. 
European equity indices inched higher, aided by larger speculative bets on ECB rate cuts in 2024. However, the currency-unhedged SPDR DJ Euro STOXX 50 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) fell 0.4% as the dollar strengthened 0.6% against the euro. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 0.3% lower to $37,737, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 0.5% to $2,039. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/11/36027540/bitcoin-bull-run-ahead-novogratz-sees-return-to-all-time-highs">Bitcoin Bull Run Ahead: Novogratz Sees Return To All-Time Highs</a>

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S&P 500, Nasdaq Slip As Tech Underperforms, Oil Reacts to OPEC+: What's Driving Markets Thursday?

Stocks are experiencing their 16th green session out of the 20 so far in November, with the S&amp;P 500 index reaching its highest level since early August, and the Nasdaq 100 just 4.4% below its all-time highs <a href="https://www.benzinga.com/markets">set in November 2021.</a>
The second estimate of the U.S. GDP for the third quarter revealed an expansion of 5.2% in Q3, surpassing earlier projections of 4.9%, marking the most rapid growth rate in almost two years.
Even the hawkish comments from Richmond Fed President Thomas Barkin failed to shake the stock market, and investors are now pricing in the start of rate cuts in May 2024 with an 80% probability, anticipating five cumulative cuts by December 2024 with a 58% probability.
Barkin mentioned that he is not ruling out the possibility of another rate hike, and believes that inflation will prove to be more stubborn than the Fed would prefer.
The yield on the U.S. 10-year Treasury remained below the 4.3% mark on Wednesday, staying at a level not seen in over two months.
On a different note, the Wall Street<a href="https://www.wsj.com/world/middle-east/opec-mulls-new-oil-production-cuts-amid-middle-east-conflict-f37cef80"> Journal </a>reported that OPEC+ is contemplating new oil production cuts of up to 1 million barrels per day. This move, likely to drive oil prices higher, may be announced on Thursday during a virtual meeting of the cartel.
WTI crude oil traded 1.5% higher to $77.7 a barrel as of 1:00 p.m. in New York.
<h2 class="wp-block-heading">Performance Of US Stock Indices Wednesday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.22%</td>
<td>16,041.52</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.24%</td>
<td>4,565.34</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.31%</td>
<td>35,530.44</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.09%</td>
<td>1,812.38</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) rose 0.26% to $456.17. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged 0.5% higher to&nbsp;$355.72.&nbsp; </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) rose 0.25% to $391.18. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) soared 1.07% to $179.95, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: The US Economy Just Had Its Best Quarter In 2 Years</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/29141157/USGDPQQ_2023-11-29_18-11-14_3ab6a-1024x723.png" alt="" class="wp-image-152454" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/29141157/USGDPQQ_2023-11-29_18-11-14_3ab6a-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/29141157/USGDPQQ_2023-11-29_18-11-14_3ab6a-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/29141157/USGDPQQ_2023-11-29_18-11-14_3ab6a-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/29141157/USGDPQQ_2023-11-29_18-11-14_3ab6a.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Real estate and financials were the sector outperformers on Wednesday, with the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) and the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), up 1.5% and 1.4%, respectively. 
Consumer staples as tracked by the Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) were the laggard, down 0.8%. 
Regional banks were the spotlight among equity industries, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) up 3.4%. 
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) rallied 10% as the carmaker announced a $10 billion buyback program and raised its dividend.</li>
<li>Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>) rallied nearly 12% following the release of its quarterly results. </li>
<li>Crowdstrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) rose 10% as momentum improved following its quarterly results. </li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) surged more than 25%, extending gains of over 40% over the past two sessions, ahead of next week&#8217;s earnings report. </li>
<li>NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) soared over 15%, in reaction to its earnings report.</li>
<li>Other companies moving after their earnings reports are, Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) (down about 10%), Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) (up about 3.5%), Foot Locker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) (up about 17%), Donaldson Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DCI#NYSE">DCI</a>) (up about 17%) </li>
<li>Those reporting after the close include Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>), Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), Okta, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>), Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Synopsys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), Zuora, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZUO#NYSE">ZUO</a>) and Victoria&#8217;s Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>).</li>
</ul>
<h2 class="wp-block-heading">Commodities, Bonds, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the performance of light sweet crude, was 1.5% higher. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), inched 0.3% higher to $2,046/oz. Silver edged 0.2% higher to $25.05. 
Treasury yields fell, with yields on the 2-year and 10-year note declining by 9 and 5 basis points, respectively. Long-dated Treasury yields also eased, with the 30-year yield down 4 basis points to 4.46%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rallied 1%. 
European equity indices had a robust session of gains. The SPDR DJ Euro STOXX 50 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.8% higher. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.7% higher to $38,241, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 2.3% to $2,072. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/11/35962067/cyber-monday-sales-could-hit-12-billion-5-stocks-that-could-win-big-from-e-commerce-holiday-shopping">S&amp;P 500 At 5,000 In 2024? Bank of America&#8217;s Optimistic Forecast Diversifies Beyond Magnificent 7</a>
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Stocks Drift Higher On Stronger GDP Data, Oil Rebounds As OPEC+ Mulls Cuts: What's Driving Markets Wednesday?

U.S. stocks experienced a welcome resurgence on Tuesday, buoyed by the latest comments <a href="https://www.benzinga.com/markets">from Federal Reserve officials.</a>
Federal Reserve Governor Christopher Waller indicated that if inflation continues its downward trajectory over the next few months, there could be strong economic justification for reducing the policy rate. 
&#8220;If inflation consistently declines, there is no reason to insist that rates remain really high,&#8221; Waller said.
In a similar vein, Chicago Fed President Austan Goolsbee has noted that the current deceleration in inflation is the most significant in 71 years, while New York Fed President John Williams, has characterized the drop as a positive development. On the contrary, Fed Governor Michelle Bowman acknowledged the need for further policy tightening to bring inflation in line with the Fed&#8217;s target.
These dovish signals from the Fed officials led to a noticeable decline in Treasury yields. The policy-sensitive two-year yields dropped by 12 basis points, descending to 4.76% — a level last observed in early August. This decrease reflects the market&#8217;s reassessment of the interest rate trajectory following the Fed officials&#8217; comments.
The U.S. dollar index, as measured by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), fell 0.5%, slipping below the 103 mark. 
This downward movement in the dollar index was mirrored by a notable uptick in gold prices. The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) saw a 1.4% increase, reaching $2,040, its highest level since May. Now, it stands just 2% below its all-time highs. 
<h2 class="wp-block-heading">Performance Of US Stock Indices Tuesday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.23%</td>
<td>16,009.85</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.29%</td>
<td>4,563.61</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.45%</td>
<td>35,492.11</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.01%</td>
<td>1,801.28</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) rose 0.28% to $455.77. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged 0.5% higher to&nbsp;$354.90.&nbsp; </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) rose 0.27% to $390.17. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) held steady at $178.73, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: Gold Prices Eye All-Time Highs</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/28131414/GOLD_2023-11-28_17-13-58_9c1ce-1024x723.png" alt="" class="wp-image-151537" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/28131414/GOLD_2023-11-28_17-13-58_9c1ce-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/28131414/GOLD_2023-11-28_17-13-58_9c1ce-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/28131414/GOLD_2023-11-28_17-13-58_9c1ce-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/28131414/GOLD_2023-11-28_17-13-58_9c1ce.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
The utilities and energy sectors showed the strongest performance in equities, with both the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) posting gains of 0.6%.
On the other hand, health care lagged behind, as the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) declined by 0.2%.
Among equity industries, gold miners demonstrated significant strength, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) surging by 4.4%.
Conversely, biotech, as represented by the SPDR Series Trust SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>), underperformed, recording a 0.6% decrease in value.
<h2 class="wp-block-heading">Latest Economic Data</h2>
The Conference Board&#8217;s latest report reveals a resurgence in <a href="https://www.benzinga.com/economics/macro-economic-events/23/11/35982168/consumer-confidence-rises-more-than-predicted-in-november-but-an-early-recession-">U.S. consumer confidence</a> for November, defying earlier expectations. 
The consumer confidence index surged from a downwardly revised 99.1 in October to a reading of 102 in November, according to the latest data released Tuesday. This surpassed market expectations of a 101.6 reading.
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>) rallied over 5%, marking the best performance among S&amp;P 500 stocks, reflecting rising gold prices. </li>
<li>PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) rallied over 18.4% after reporteding third-quarter earnings of 11.61 Chinese yuan.</li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) rose 3.1%. </li>
<li>Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) rose less than 1%, in a volatile session, following a double earnings beat.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) rose 11% on heavy trading volume Tuesday despite a lack <a href="https://www.benzinga.com/news/23/11/35982438/whats-going-on-with-gamestop-corporation-stock">of company-specific news.</a>&nbsp;</li>
<li>Micron Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MU#NYSE">MU</a>) fell 2.7% despite the company raising&nbsp;its first-quarter outlook, which surpassed estimates.</li>
</ul>
<h2 class="wp-block-heading">Commodities, Bonds, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the performance of light sweet crude, was 2.6% higher. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 1.4% to $2,041/oz. Silver rose 1.3% to $24.94. 
European equity indices fell. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) edged 0.1% higher. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.7% higher to $38,241, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 2.3% to $2,072. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/11/35962067/cyber-monday-sales-could-hit-12-billion-5-stocks-that-could-win-big-from-e-commerce-holiday-shopping">S&amp;P 500 At 5,000 In 2024? Bank of America&#8217;s Optimistic Forecast Diversifies Beyond Magnificent 7</a>
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US Stocks Rebound As Treasury Yields, Dollar Fall On Dovish Fed Remarks, Gold Hits $2,040: What's Driving Markets Tuesday?

U.S. stocks are kicking off the week with a slight dip, as all major indices trade in the red in New York, except for the tech stocks of the Nasdaq 100, which are showing positive momentum following the release of encouraging data after <a href="https://www.benzinga.com/topic/cyber-monday">Black Friday</a>.
Initial data from Adobe and Salesforce indicates robust Black Friday online sales, slightly surpassing expectations, according to Bank of America. Overall, online sales have outperformed offline ones, a sentiment also echoed by Goldman Sachs, which noted subdued in-store traffic, with no lines forming during opening hours.
Treasury yields are once again declining as investors increasingly anticipate a soft landing for the economy. The dollar remains stable while the price of gold edges higher to reach $2,010 per ounce. Oil prices dipped with the oil producers&#8217; meeting scheduled for Thursday.
<h2 class="wp-block-heading">Performance Of US Stock Indices Monday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.23%</td>
<td>16,018.60</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.09%</td>
<td>4,555.39</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.30%</td>
<td>35,293.15</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.45%</td>
<td>1,799.42</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) eased 0.07% to $455.03. </li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) edged 0.2% lower to&nbsp;$352.96.&nbsp; </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) rose 0.25% to $390.45. </li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.45% to $178.53, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: S&amp;P 500 Eyes Best Month Since July 2022</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="723" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/27133436/SPY_2023-11-27_17-34-22_60ec8-1024x723.png" alt="" class="wp-image-150602" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/27133436/SPY_2023-11-27_17-34-22_60ec8-1024x723.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/27133436/SPY_2023-11-27_17-34-22_60ec8-300x212.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/27133436/SPY_2023-11-27_17-34-22_60ec8-768x542.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/27133436/SPY_2023-11-27_17-34-22_60ec8.png 1530w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Real estate stocks led gains among equity sectors, with the Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) up 0.6%, followed by consumer discretionary, with the Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) up 0.5%. 
Energy was the laggard, with the the Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) down 1%. 
Gold miners outperformed among equity industries, with the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) up 0.9%. 
Solar stocks, as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), continue to underperform, down by 1.52%, after tumbling 1.9% on Friday. 
<h2 class="wp-block-heading">Latest Economic Data</h2>
October 2023 saw the U.S. housing market display mixed signals with a downturn in new home sales but an <a href="https://www.benzinga.com/economics/macro-economic-events/23/11/35963718/us-housing-market-sends-mixed-signals-october-new-home-sales-fall-yet-building-pe">uptick in building permits</a>.  Sales of new single-family houses reached a seasonally adjusted annual rate of 679,000 in October, implying a 5.6% decrease from September's revised rate of 719,000.
Building permits rose by 1.8% to a seasonally adjusted annual rate of 1.498 million, slightly above the preliminary estimate of 1.487 million.
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) and Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>), led gains among Nasdaq 100 stocks, up 3.9%, 3.8% and 1.7%, respectively. </li>
<li>Domino&#8217;s Pizza Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DPZ#NYSE">DPZ</a>) was the S&amp;P 500&#8217;s best performer for the day, up 4.5% as TD Cowen raised its price target from $410 to $430. </li>
<li>Crown Castle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCI#NYSE">CCI</a>) experienced a 4% rally, reaching its highest level since late July, as activist investor Elliott Management acquired over $2 billion worth of stock in the wireless tower company.</li>
<li>Some of the worst-performing stocks include Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), WK Kellog Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLC#NYSE">KLC</a>) and Petco Health And Wellness Co Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>), with each of them experiencing a decline of approximately 5%.</li>
</ul>
<h2 class="wp-block-heading">Commodities, Bonds, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the performance of light sweet crude, was 1.8% lower. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.4% to $2,010/oz. Silver rose 1.3% to $24.62. 
As yields declined, bond soared, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) up 0.9%. 
European equity indices fell. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) edged down 0.5%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1.5% down to $36,918.50, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) fell 2.5% to $2,012.81. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/11/35962067/cyber-monday-sales-could-hit-12-billion-5-stocks-that-could-win-big-from-e-commerce-holiday-shopping">Cyber Monday Sales Could Hit $12 Billion: 5 Stocks Plays On E-Commerce Holiday Shopping Growth</a>
Photo: Shutterstock.

New ETFs

FSLR

MELI

WOOF

US Stocks Slip, Tech Rises On Solid Holiday Sales, Treasury Yields Soften: What's Driving Markets Monday?

U.S. stocks marked their fourth consecutive week of gains, the longest winning streak since June, in a week marked by thinner trading volumes due to the Thanksgiving and Black Friday holidays.
Small-cap stocks outperformed, while tech stocks lagged behind as U.S. Treasury yields surged following better-than-expected services <a href="https://www.benzinga.com/economics/macro-economic-events/23/11/35940719/us-manufacturing-momentum-slows-in-november-services-beat-expectations-price-pres">PMI data in November.</a>
Both the 10-year and 30-year Treasury bond yields increased by 7 basis points, resulting in a 1.1% decline in the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>).
The remaining sectors of the S&amp;P 500 saw little movement, with energy and materials slightly outperforming by the end of the session.
Elsewhere, gold held above the psychological $2,000/oz threshold, signaling renewed optimism among investors. 
<h2 class="wp-block-heading">Friday&#8217;s US Index Performance</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.12%</td>
<td>15,982.00</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.06%</td>
<td>4,559.33</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.33%</td>
<td>35,390.16</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.67%</td>
<td>1,807.50</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>
<ul>The SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA: <a style="font-size: revert" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>) closed flat at $455.21. </ul>
</li>
<li>
<ul>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) ended 0.4% to&nbsp;$353.91.&nbsp; </ul>
</li>
<li>
<ul>The Invesco QQQ Trust&nbsp;(NASDAQ: <a href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) eased 0.15% to $289.48. </ul>
</li>
<li>
<ul>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.66% to $179.31, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a> </ul>
</li>
</ul>
Chart Of The Day: Nasdaq 100 At Less Than 5% Distance From All-Time Highs
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="521" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7-1024x521.png" alt="" class="wp-image-149597" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7-1024x521.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7-768x391.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7-1536x782.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/24140352/NDQ_2023-11-24_18-03-26_057e7.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETFs Performance</h2>
Healthcare stocks led gains among equity sectors, with the Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) up 0.55%. 
The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) and the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) were the laggards, down 0.4% and 0.2% respectively. 
Among industries, oil services, as monitored through the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) edged higher by 0.5%. 
Solar stocks, as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), underperformed, down by 1.4%. 
<h2 class="wp-block-heading">Latest Economic Data</h2>
The S&amp;P Global Manufacturing PMI for the U.S. recorded a slight decrease, falling from 50 to 49.4 points in November, signaling a reentry into contraction territory. In contrast, the S&amp;P Global Services PMI rose from 50.6 to 50.8 points, <a href="https://www.benzinga.com/economics/macro-economic-events/23/11/35940719/us-manufacturing-momentum-slows-in-november-services-beat-expectations-price-pres">surpassing expectations of 50.4.</a>
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Nordstrom Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWM#NYSE">JWM</a>) and Best Buy Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) rose 6% and 2.9%, respectively, thanks to deeper discounts that drew in shoppers seeking clothing and electronics.</li>
<li>Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) rose 5.8%, as cryptocurrencies surged across the board. </li>
<li>NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell 1.9%, marking the second straight decline following its earnings release. </li>
<li>First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) fell 3.5% as buyers take a respite after the 15% gain seen in the prior week. </li>
</ul>
<h2 class="wp-block-heading">Commodities, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), closed 1.2%. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), rose 0.4% to $2,000/oz. Silver rallied 2% to $24.30. 
European equity indices inched higher. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) edged up 1.1%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1.4% up to $37,815, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 1.8% to $2,099. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/emerging-markets/23/11/35940145/israel-hamas-war-day-49-ceasefire-begins-first-round-of-hostages-released-as-fuel-heads-">Israel-Hamas War, Day 49: Ceasefire Begins; First Round Of Hostages Released As Fuel Heads To Gaza</a>
Photo: Shutterstock

COIN

JETS

Stocks Notch 4th Week Of Gains - Tech Falters As Yields Rise; Gold Steady At $2,000: Friday's Market Recap

Wall Street is cloaked in green in the session leading up to Thanksgiving, with the S&amp;P 500 index reaching 4,560 points, a level closely watched by analysts, at midday <a href="https://www.benzinga.com/markets">trading in New York. </a>
The S&amp;P 500 is currently testing the downward trendline that connects the highs of January 2022 to the highs of July 2023. All-time highs are less than 6% away from the current levels.
The CBOE Volatility Index, known as VIX, has dropped below the 13 mark, presently assessing the lower bounds of the 2020-2023 range, suggesting an exceptionally low degree of anxiety in the market. 
Among tech giants, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) lost ground, down 2.3% and 3.7%, respectively. The former is introducing a new price discount for its Model Y, while the latter issued a warning about declining sales in China despite reporting strong financial results. 
Peer Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) saw an almost 4% increase, marking the best performance among S&amp;P 500 stocks. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reached an all-time high of 378.9.
The latest economic data released today paints an improving picture in the mortgage market, lower-than-expected jobless claims, and an upward revision in the University of Michigan Consumer Confidence index for this month. The U.S. dollar index rose by 0.3%, while Treasury yields held steady. 
Crude oil prices dropped over 2% as the OPEC+ cartel postponed the meeting scheduled for this Sunday due to disputes over members&#8217; output, leading to the energy sector&#8217;s underperformance. 
<h2 class="wp-block-heading">Wednesday&#8217;s US Index Performance</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.55%</td>
<td>16,021.94</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.34%</td>
<td>4,555.28</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.36%</td>
<td>35,212.38</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.62%</td>
<td>1,794.34</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.3% higher to&nbsp;$454.77.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.4% to&nbsp;$352.16.&nbsp;</li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was 0.5% higher to $390.38.</li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $177.86, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Chart Of The Day: S&amp;P 500 Bulls Face A Key Resistance Test
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="760" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/22135137/SPX_2023-11-22_17-51-23_e4c08-1024x760.png" alt="" class="wp-image-148236" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/22135137/SPX_2023-11-22_17-51-23_e4c08-1024x760.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/22135137/SPX_2023-11-22_17-51-23_e4c08-300x223.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/22135137/SPX_2023-11-22_17-51-23_e4c08-768x570.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/22135137/SPX_2023-11-22_17-51-23_e4c08.png 1455w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETFs Performance</h2>
Tech and communications services led gains among equity sectors, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) up 0.6% and 0.5%, respectively. 
Energy was the laggard, with the Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) falling 0.7%. 
Among industries, airlines, as tracked by the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), outperformed, up by 1.8%. 
Oil services declined the most, with the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) easing 1%. 
<h2 class="wp-block-heading">Latest Economic Data</h2>
<ul>
<li>The Mortgage Bankers Association of America (MBA) reported a 20 basis point decrease in the average contract interest rate for 30-year fixed-rate mortgages to 7.41% during the week ending Nov. 17. </li>
<li>Mortgage applications saw a 3% increase during the same week, marking the third consecutive weekly rise and the most significant jump in two months.</li>
<li>In October 2023, new orders for durable goods declined sharply by 5.4% month-over-month, reversing a 4.0% surge seen in September and falling well below the expected 3.1% drop.</li>
<li>For the week ending Nov. 18 the number of unemployment benefits dropped by 24,000 to 209,000, a significant decrease from the previous week&#8217;s three-month high and below market expectations of 225,000.</li>
<li>The University of Michigan&#8217;s consumer sentiment index was revised higher to 61.3 in November 2023 from the preliminary reading of 60.4. Inflation expectations for the year ahead exceeded expectations, reaching 4.5%, while expectations for the five-year outlook remained at 3.2%, the highest level since March 2011.</li>
<li>Crude oil inventories in the US surged by 8.701 million barrels in the week ending November 17, 2023, following a 3.592 million barrel build in the previous period, surpassing market forecasts of a 1.160 million barrel increase, according to the EIA Petroleum Status Report.</li>
</ul>
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Carnival Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) rose 3.8% after Citigroup reinstated coverage on the stock with a &#8216;Buy&#8217; rating, highlighting that pricing and demand continue to show resilience in the face of geopolitical concerns.</li>
<li>Farm equipment manufacturer Deere &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) slumped nearly 4% after the company issued a soft 2023 outlook expecting a decline in demand. </li>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) fell nearly 6%, despite beating Street&#8217;s estimates last quarter, as several analysts lowered price targets. </li>
</ul>
<h2 class="wp-block-heading">Commodities, Bonds, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the price performance of light sweet crude oil, fell 2.2%. 
Gold, as monitored through the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), eased 0.3% to $1,990/oz. Silver fell 0.4% to $23.63, fueled by the rise in gold prices. Treasury yields were steady, with the 10-year benchmark hovering at a 4.42% yield. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) edged 0.2% higher. 
European equity indices inched higher. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) edged 0.1% up. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.5% up to $36,644, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 5.3% to $2,037. 
Shanthi Rexaline contributed to this report.
Read Next:&nbsp;<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/23/11/35906245/half-of-s-p-500-stocks-still-below-200-day-average-10-bargain-plays-for-latecomer-bull" target="_blank" rel="noreferrer noopener">Half Of S&amp;P 500 Stocks Still Below 200-Day Average, Ignoring Covid-Like Rally: 10 Bargain Plays For Latecomer Bulls</a>

Intraday Update

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PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

S&P 500 Flirts With Key Resistance, VIX Drops, Nvidia In Focus: What's Driving Markets Wednesday?

Wall Street took a brief respite during midday trading on Tuesday, marked by modest losses <a href="https://www.benzinga.com/markets">in major stock averages. </a>
The subdued optimism was likely influenced by disappointing quarterly results from prominent retailers such as Lowe&#8217;s Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), Kohls Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>), and Best Buy Co. Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>).
Investors were also eagerly awaiting the release of the Federal Open Market Committee (FOMC) meeting minutes at 2 p.m. ET, hoping for greater <a href="https://www.benzinga.com/news/23/11/35872246/fomc-minutes-could-provide-markets-with-a-sobering-reminder-of-higher-for-longer">insight into monetary policy.</a>
Shares of NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) declined by 1.7% after surging to fresh record highs on Monday, with the company scheduled to report earnings <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35888525/can-ai-stalwart-nvidia-deliver-back-to-back-hit-show-q3-earnings-preview">after the closing bell</a>. This event has the potential to significantly influence market sentiment for the remainder of the shortened Thanksgiving week.
Gold prices made a remarkable surge, crossing the significant milestone of $2,000 per troy ounce, fueled by the sustained weakness of the dollar, which is holding at its lowest level in over two months.
<h2 class="wp-block-heading">US Index Performance On Tuesday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.71%</td>
<td>15,913.39</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.27%</td>
<td>4,536.31</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.21%</td>
<td>35,073.32</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.02%</td>
<td>1,788.62</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.3% lower to&nbsp;$452.99.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.2% to&nbsp;$350.70.&nbsp;</li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was 0.7% lower to $387.96.</li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1.1% to $177.36, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: Gold Surges To $2,000, Up Nearly 10% YTD</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="475" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee-1024x475.png" alt="" class="wp-image-147238" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee-1024x475.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee-768x356.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee-1536x712.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/21132944/GOLD_2023-11-21_17-25-08_aeeee.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Health care and materials led gains among equity sectors, with the Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) and the Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) up 0.7% and 0.5%, respectively. 
Tech and real estate were the laggards, with the the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) down 0.9% and 0.5%, respectively. 
Among industries, gold miners, as tracked by the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>), sharply outperformed, rallying over 3.4%. 
Clean energy and solar stocks eased, following Monday&#8217;s sharp gains, with the Invesco Wilderhill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) and the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) down 3.1% and 1.9%, respectively. 
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>) shares climbed over 8% following the release of its quarterly results.</li>
<li>Other companies reacting to their earnings are Jacobs Solution Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/J#NYSE">J</a>) (down 9%), Abercrombie &amp; Fitch Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) (down 3%), Burlington Stores, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) (up 20%), Hibbett, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIBB#NASDAQ">HIBB</a>) (up 13%) and Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) (up 4%). </li>
<li>Meme stock AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) hit<a href="https://www.benzinga.com/news/23/11/35901056/amc-stock-hits-new-52-week-low-whats-going-on"> a fresh all-time low. </a></li>
<li>Those reporting after the market close include Nvidia, Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>), Guess?, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), Jack in the Box Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>), Nordstrom, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) and Urban Outfitters, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/URBN#NASDAQ">URBN</a>).</li>
</ul>
<h2 class="wp-block-heading">Commodities, Bonds, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the price performance of light sweet crude oil, eased 0.2%. 
Silver rose 1.9% to $23.85, fueled by the rise in gold prices. Treasury yields were slightly softer, with the 10-year benchmark hovering at a 4.41% yield. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) eased 0.3%. 
European equity indices had a lackluster session. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) fell 0.6%. 
In emerging markets, Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) eased 1% after rallying as much as 11.6% on Monday following Javier Milei&#8216;s victory in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35874017/mileis-election-win-fuels-major-gains-in-argentine-adrs-etfs-there-is-no-free-lunch">the country&#8217;s presidential elections. </a>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2% lower to $36,761, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) fell 2.8% to $1,970. 
Shanthi Rexaline contributed to this report.
Related Link: <a href="https://www.benzinga.com/news/large-cap/23/11/35884385/nvidia-microsoft-reach-all-time-highs-push-nasdaq-100-near-2021-peak-caution-indicator-flashes">Nvidia, Microsoft Reach All-Time Highs, Push Nasdaq 100 Near 2021 Peak &#8211; Caution Indicator Flashes</a>
Photo via Shutterstock.

BIDU

BURL

HIBB

JACK

URBN

Stocks Edge Down Ahead Of Fed Minutes, Nvidia Earnings, While Gold Hits $2,000: What's Driving Markets Tuesday?

U.S. stocks are kicking off the Thanksgiving holiday week on a positive note, with all major Wall Street indices trading in the green as of <a href="https://www.benzinga.com/markets">midday in New York</a>.
The U.S. dollar index (DXY) has declined to 103.50 levels, marking its lowest point since late August, one day ahead of the eagerly anticipated release of the FOMC minutes <a href="https://www.benzinga.com/news/23/11/35872246/fomc-minutes-could-provide-markets-with-a-sobering-reminder-of-higher-for-longer">from the November meeting.</a>
Oil prices have witnessed a robust rally, with West Texas Intermediate (WTI) climbing more than 3% to breach the <a href="https://www.benzinga.com/news/23/11/35879641/opec-to-discuss-deeper-production-cuts-to-underpin-volatile-oil-prices">$78-per-barrel mark</a>. Investors are now looking ahead to the OPEC+ meeting where the cartel is expected to further cut production to bolster crude prices. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) has registered a 0.5% increase.
Treasury yields have shown little movement, with the 10-year benchmark yield remaining flat at 4.46%.
<h2 class="wp-block-heading">US Index Performance On Monday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.79%</td>
<td>15,962.80</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.47%</td>
<td>4,535.38</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.37%</td>
<td>35,074.82</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.48%</td>
<td>1,806.38</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.4% higher to&nbsp;$452.73.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.3% to&nbsp;$350.62.&nbsp;</li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was up 0.8% to $389.04.</li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.5% to $179.19, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
<h2 class="wp-block-heading">Chart Of The Day: Tech Stocks Are Only 5% From All-Time Highs</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc-1024x495.png" alt="" class="wp-image-146523" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/20133057/QQQ_2023-11-20_17-30-41_a7edc.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Tech stocks have taken the lead in driving gains, with the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) surging by 1%, outperforming all other sectors. 
The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) and the Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) were the laggards, down 0.5%.
Among industries, solar stocks sharply outperformed, with the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) rallying by 3.4%. 
Regional banks softened, with the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) easing 0.5%. 
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>Microsoft rose 2% after the company hired former OpenAI CEO Sam Altman and former president Greg Brockman, along with some of their ex-colleagues to set up a new AI team.</li>
<li>Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) rose 1% ahead of the highly anticipated release of its earnings due Tuesday after the market close. </li>
<li>Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) was moving higher after the bank announced a massive layoff initiative, <a href="https://www.benzinga.com/etfs/sector-etfs/23/11/35877591/citigroup-restructures-targets-10-senior-management-layoffs">targeting 10% of workforce.</a></li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) rallied over 4% after Deutsche Bank upgraded the stock to Buy on an improved free cash flow outlook.</li>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) soared 6.5% after selling its Bellator mixed martial arts promotion to the Professional Fighters League, according to an announcement made by the PFL on Monday.</li>
<li>PENN Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NYSE">PENN</a>) rallied nearly 7% following Bank of America&#8217;s decision to upgrade the stock, driven by favorable download data for the sports gambling service ESPN Bet.</li>
</ul>
<h2 class="wp-block-heading">Commodities, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the price performance of light sweet crude oil, rose 3.1%. 
Gold edged 0.4% lower&nbsp;to $1,973/oz, while silver fell 1% to $21.49.&nbsp;
European equity indices had a mixed sesssion. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.3%. 
In emerging markets, Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) rose as much as 12% following Javier Milei&#8216;s victory of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35874017/mileis-election-win-fuels-major-gains-in-argentine-adrs-etfs-there-is-no-free-lunch">the country&#8217;s presidential elections. </a>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1% higher to $37,753, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) rose 2.2% to $2,056. 
Shanthi Rexaline contributed to this report.
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35877295/black-friday-preview-consumers-will-likely-show-up-14-retail-technology-stock-picks">Black Friday Preview: &#8216;Consumers Will Likely Show Up&#8217; — 14 Retail, Technology Stock Picks From Analysts</a>
Photo via Shutterstock.

Movers

AMAT

CHPT

ENOR

EXPE

KLAC

LRCX

PARA

PENN

ROST

Stocks Grind Higher, Oil Rallies, Dollar Falls: What's Driving Markets Monday?

Wall Street experienced a relatively quiet session as the week came to a close, with the three major averages hovering around parity in midday trading in New York, yet still on course for their third <a href="https://www.benzinga.com/news/earnings/23/11/35846046/us-stocks-on-track-to-finish-week-on-a-high-as-positive-earnings-rate-pause-hopes-lend-support">successive week of gains.</a>
Small caps emerged as the market&#8217;s brightest pocket, with the Russell 2000 climbing 1.3% Friday and achieving a weekly increase of over 5%, its second-best performance of the year.
Mega-cap stocks, as tracked by the iShares S&amp;P 100 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OEF#NYSE">OEF</a>), were flat for the day. 
The dollar&#8217;s weakening trend persisted, marking its most challenging week since early July. Traders have now fully priced in the Federal Reserve maintaining rates unchanged next month, with an expectation of four rate cuts in the upcoming year.
Treasury yields flattened, with the two-year yield up by 6 basis points and the 30-year yield down by 3 basis points. The widely-followed iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) is on track for its fourth consecutive week of gains, the longest streak in a year.
Crude oil was a notable mover, rising as much as 4%, nearly offsetting its 4.6% drop on Thursday.
<h2 class="wp-block-heading">US Index Performance On Friday</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.09%</td>
<td>15,847.22</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.11%</td>
<td>4,514.25</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.02%</td>
<td>34,940.89</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.33%</td>
<td>1,797.37</td>
</tr>
</tbody>
</table>
</figure>
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.1% higher to $450.94.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.1% to $349.61. </li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was up 0.1% to $386.34.</li>
<li>The iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.5% to $178.51, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
<h2 class="wp-block-heading">Sector, Industry ETF Performance</h2>
Among sectors, energy stocks, as indicated by the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), saw a rally, climbing 2.6%.
Conversely, the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) and the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged behind, each down by 0.3%.
Among industries, retail stocks experienced a surge, with the SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) increasing by 2.8%. Other significant gainers included the SPDR S&amp;P Oil &amp; Gas Exploration and Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) and the VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>), up 2.7% and 2.6%, respectively.
REITs showed softer performance, with the Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) declining by 0.1%.&#8221;
<h2 class="wp-block-heading">Latest Economic Data</h2>
<ul>
<li>Housing starts increased by 1.9% month-over-month, reaching a seasonally adjusted annual rate of 1.372 million in October 2023 and extending the 7% increase in the previous month, the U.S. Census Bureau reported Friday. The figure came in above market forecasts of 1.35 million. </li>
<li>In October 2023, building permits rose 1.1% month-over-month, reaching a seasonally adjusted annual rate of 1.487 million, an increase from the 1.471 million recorded in September. This marks a rebound from the 4.5% decrease experienced in the preceding month. </li>
</ul>
<h2 class="wp-block-heading">Stocks In Focus</h2>
<ul>
<li>The Gap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>) soared 29% on an extraordinary earnings beat. </li>
<li>Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) rose nearly 8% on strong quarterly results. </li>
<li>Expedia Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NYSE">EXPE</a>) rose 5.3%, reaching levels last seen in May 2023, after Evercore ISI upgraded the stock to Outperform and raised the price target from $135 to $200. </li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) fell nearly 5% despite reporting better-than-expected results last quarter. The stock faces pressure following a report suggesting the company is facing a U.S. criminal investigation for possibly&nbsp;evading export restrictions on China&#8217;s SMIC. Peers KLA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) and Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) also moved lower.</li>
<li>ChargePoint Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NASDAQ">CHPT</a>) plunged more than 30% in reaction to its preannouncement.</li>
</ul>
<h2 class="wp-block-heading">Commodities, Other Global Equity Markets And Crypto</h2>
The United States Oil Fund, LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), which tracks the price performance of light sweet crude oil, rose 4.04%. 
Gold edged 0.1% higher to $1,982/oz, while silver inched 0.2% higher to $23.77. 
European equity indices closed in the green. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 1.3%, but the best performer was the iShares MSCI Norway ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENOR#NYSE">ENOR</a>), up 2.3%. 
In emerging markets, Global X MSCI Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) rose 1.9% ahead of the second round of the country&#8217;s presidential election over the weekend. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 0.9% higher to $36,479, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) fell 0.8% to $1,945. Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) rallied 5.2%. 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35817579/feasting-on-profits-does-thanksgiving-week-cook-up-stock-market-gains">Feasting On Profits: Does Thanksgiving Week Cook Up Stock Market Gains?</a>
Shanthi Rexaline contributed to this report.
Photo via Shutterstock.

$DOGE

Large-Cap Stocks Pause, Small Caps Shine, Oil Makes Comeback: What's Driving Markets Friday?

It&#8217;s a red day on Wall Street, with stocks retreating as investors assess the latest economic data indicating an increase in jobless claims and Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) delivering a cautious <a href="https://www.benzinga.com/news/earnings/23/11/35832639/crude-oil-down-4-walmart-shares-fall-after-q3-results">stance on the consumer outlook.</a>
Treasury yields fell, as investors flocked to fixed income. The 10-year yields erased Wednesday&#8217;s uptick, settling at 4.45%. 
On the data front, jobless claims exceeded expectations, totaling 231,000 last week and reaching their highest level in three months. Import and export prices came in below anticipated levels, heightening concerns about a sustained economic slowdown. Money markets have completely ruled out the probability of a Federal Reserve interest rate hike and are factoring in four rate cuts in 2024.
Oil prices plummeted by 4.8%, causing further declines in energy stocks, while precious metals acted as a safe haven, leading to gains for mining companies.
The VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) dropped by 4.4%, making it the worst-performing industry today, while the VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) rallied nearly 2%, representing the best-performing industry
Cues From Thursday's Trading:
Both the S&amp;P 500 and the Nasdaq 100 eased 0.1%, while Dow Jones Industrial Average slipped 0.3%. Small caps underperformed, shedding 1.6%. 
 US Index Performance On Thursday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.07%</td>
<td>15,812.71</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.08%</td>
<td>4,499.54</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.33%</td>
<td>34,874.17</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.64%</td>
<td>1,772.76</td>
</tr>
</tbody>
</table>
</figure>
Thursday Trading In Major US Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.1% lower to $449.11.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.3% to $349.24.</li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.1% to $385.34, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500 sector ETFs:
<ul>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) rose 0.7%, outperforming other sectors.</li>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the laggard, down 2.7%.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-brokers-futures-traders">Best Futures Brokers</a>
Stocks In Focus:
<ul>
<li>Cisco Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>) experienced an almost 12% decline, due to the lackluster outlook for both the current quarter and the full year.</li>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) saw a drop of almost 6% following the release of a billings guidance that left investors disappointed.</li>
<li>NetEase, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTES#NASDAQ">NTES</a>) fell over 2% following the release of its quarterly results.</li>
<li>Walmart slipped over 7% due to the weaker outlook. </li>
<li>Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) tumbled 9% despite an earnings beat. The Chinese giant decided to postpone the listing of its Freshippo grocery unit and put the spinoff of its cloud business on hold, leaving shareholders disappointed. </li>
<li>Other companies reacting to earnings are Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) (up 6%) Shoe Carnival, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCVL#NASDAQ">SCVL</a>) (down 7%) Warner Music Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>) (down 4%) Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) (up 5%) and The Children&#8217;s Place, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLCE#NASDAQ">PLCE</a>) (down 26%).</li>
<li>Those reporting after the close include Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), The Gap, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPS#NYSE">GPS</a>), Ross Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROST#NASDAQ">ROST</a>) and Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil plummeted 4.8%, with a barrel of WTI-grade crude trading at $73. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 4.7% lower to $67.99.&nbsp;&nbsp;
Treasuries rallied, with&nbsp;the iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) up 1.5% for the day.&nbsp;
The dollar slightly eased, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), down 0.1%. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;was 0.1% higher to 1.0858.
European equity indexes had a mixed session. The SPDR DJ Euro STOXX 50 Etf  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) closed flat. 
Gold rose 1.2%&nbsp;to $1,982/oz.&nbsp;The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was 1.2% higher to $183.80.&nbsp;Silver rose 1.6% to $23.82, with the&nbsp;iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) up 1.8% to&nbsp;$21.83.&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 3.6% to $36,502.
Staff writer Piero Cingari updated this report midday Thursday.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/23/11/35820677/larry-summers-says-market-reposing-too-much-confidence-in-mother-fed-warns-2-inflation-target-might">Larry Summers Says Market Reposing &#8216;Too Much Confidence In Mother Fed,&#8217; Warns 2% Inflation Target Might Not Be Met Without Significant Downturn</a>
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Stocks Turn Red As Jobless Claims Rise, Gold Rallies, Oil Plummets: What's Driving Markets Thursday?

U.S. stocks trended higher on Wednesday, extending gains in a week marked by <a href="https://www.benzinga.com/calendars/economic">two soft inflation reports</a>. 
After a surprisingly sharp drop in the Consumer Price Index on Tuesday, a similar trend emerged on Wednesday with the Producer Price Index also <a href="https://www.benzinga.com/news/econ-s/23/11/35803395/producer-prices-deflate-retail-sales-contract-october-economic-data-paints-bleak-picture">declining more than anticipated. </a>
October retail sales data revealed a modest 0.1% decrease for the month, which was more favorable than the projected 0.3% fall.
Traders are nearly fully factoring in the likelihood of the Federal Reserve maintaining steady interest rates in December while anticipating four rate reductions next year.
These adjusted expectations for interest rates have sparked an upsurge in major tech stocks. 
The &#8220;Magnificent Seven&#8221; group, featuring prominent tech giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is now revisiting peak levels last observed toward the end of 2021.
On a positive note, the House has approved <a href="https://www.benzinga.com/news/23/11/35793891/house-passes-mike-johnson-proposed-stopgap-spending-bill-aimed-at-thwarting-potential-government-shu">a temporary spending bill</a> that extends government funding through mid-January.
Chart Of The Day: &#8216;Magnificent 7&#8217; Tech Giants Revisit Record Peaks 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5-1024x495.png" alt="" class="wp-image-143772" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/11/15130522/AAPLAMZNGOOGMETANVDAMSFTTSLA_2023-11-15_17-05-03_b7ac5.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Cues From Wednesday&#8217;s Trading:
The S&amp;P 500 rose 0.2%, rising above 4,500 points. Blue-chip stocks in the Dow Jones Industrial Average also traded 0.3% higher, while the tech-heavy Nasdaq 100 slightly underperformed, up 0.1%. 
Small caps extended their strong weekly, with the Russell 2000 up 0.8% following a 5.4% gain on Tuesday. 
US Index Performance On Wednesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.15%</td>
<td>15,828.20</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.21%</td>
<td>4,505.17</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.30%</td>
<td>34,940.86</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.78%</td>
<td>1,812.23</td>
</tr>
</tbody>
</table>
</figure>
Wednesday Trading In Major US Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.2% higher to $449.64.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $349.62. </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% higher to $385, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500 sector ETFs:
<ul>
<li>The Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) was the outperformer, up 0.7% Wednesday.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) was the laggard, down 0.3%. </li>
</ul>
Upcoming Economic Data:
U.S. mortgage applications saw a 2.8% increase in the week ending Nov. 10, extending the previous week&#8217;s 2.5% upswing. The average 30-year mortgage rate held steady at 7.61%. 
See Also: <a href="https://www.benzinga.com/money/best-brokers-futures-traders">Best Futures Brokers</a>
Stocks In Focus:
<ul>
<li>Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) fell over 4% following the release of its quarterly results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) extended its gains and traded up nearly 2.3% after the company sent out an invite for its Cybertruck launch event.</li>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) rocketed 16% following a strong double beat in quarterly results. </li>
<li>Other companies reacting to earnings reports include Catalent, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTLT#NYSE">CTLT</a>) (up 11%), JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) (up about 9%) and  TJX Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) (down about 4%). </li>
<li>Those reporting after the market close include Cisco Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>) and Sonos, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil fell 1%, with a barrel of WTI-grade crude trading at $77.32. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 1% lower to $72.&nbsp;&nbsp;
Treasury yields were higher,&nbsp;with the 10-year yield up by 10 basis points to 4.55% and the 30-year yield up by 9 basis points to 4.71%.&nbsp;The iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) was 1.6% lower for the day.&nbsp;
The dollar rose, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), up 0.3%. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;was 0.3% lower to 1.0842.
European equity indexes closed in the green. The SPDR DJ Euro STOXX 50 Etf&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.2%.&nbsp;
Gold eased 0.1%&nbsp;to $1,961/oz.&nbsp;The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was 0.1% lower to $182.&nbsp;Silver rose 1.7% to $23.44, with the&nbsp;iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>) up 1.5% to&nbsp;$21.50.&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.4% higher to $36,410.
Staff writer Piero Cingari updated this report midday Friday.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/equities/23/11/35797715/buffetts-berkshire-trimmed-chevron-stake-while-cashing-out-of-gm-and-this-covid-stock-heres-how-">Buffett&#8217;s Berkshire Trimmed Chevron Stake While Cashing Out Of GM And This COVID Stock: Here&#8217;s How The Sage Of Omaha Adjusted His Portfolio In Q3</a>
Photo via Shutterstock.

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Stocks Inch Higher On Soft PPI, 'Magnificent 7' Retest 2021 Record Highs: What's Driving Markets Wednesday?

Stocks were surging on Tuesday, fueled a lower-than-expected Consumer Price Index (CPI) report in October, cementing market bets on the end <a href="https://www.benzinga.com/economics/macro-economic-events/23/11/35775608/us-inflation-eases-more-than-expected-in-october-cements-expectations-for-end-of-">of Fed rate hikes. </a>
The headline CPI index held flat on a month-over-month basis in October, while it climbed 3.2% on an annual basis, below forecasts of a 3.3% rise. 
Core inflation, which strips out energy and food items, also eased more than expected to 4%, marking the lowest print since September 2021. 
Traders discarded expectations for any additional Federal Reserve rate hikes this year and are now anticipating four rate cuts beginning in May next year.
Cues From Tuesday&#8217;s Trading:
The S&amp;P 500 Index rallied 1.9%, the Dow Jones rose 1.4% and the tech-heavy Nasdaq 100 soared 2.1%. 
Small caps outperformed, with the Russell 2000 rocketing 4.8%, marking its best session in over a year. 
 US Index Performance On Tuesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+2.08%</td>
<td>15,805.89</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.94%</td>
<td>4,494.28</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.38%</td>
<td>34,814.19</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+4.78%</td>
<td>1,786.11</td>
</tr>
</tbody>
</table>
</figure>
Analyst Color:
Chris Zaccarelli, chief investment officer for Independent Advisor Alliance highlighted the CPI&#8217;s notable drop year-over-year, signaling an end to the Fed&#8217;s rate hikes. 
Despite recession uncertainties, strong consumer spending, low unemployment, and robust corporate profits suggest a continued market rally, according to the expert. 
&#8220;People begin to accept that higher rates are off the table, which should push stock and bond prices higher,&#8221; the analyst said. 
Fed&#8217;s Speakers Comments On October CPI Data
&#8220;Inflation progress continues, economic growth has been strong, the labor markets vibrant,&#8221; Chicago Fed President Austan Goolsbee said on Tuesday at the Detroit Economic Club. 
The Fed official noted that October CPI data looked pretty good. He said that this year could see the fastest non-war-related one-year fall in U.S. CPI inflation in a century, with an unemployment rate that never gets above 4%.
Tuesday&#8217;s Trading In Major US Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 1.9% higher to&nbsp;$448.57</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 1.4% to $348.32</li>
<li>The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 2.1% to $385, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500&#8217;s sector ETFs:
<ul>
<li>All sectors traded in the green, showing robust daily gains. The strongest was the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>), up 4.7% for the day, followed by the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>), up 3.4%. </li>
<li>Solar stocks as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) rallied as much as 9.9%, showing the best performance among industries. </li>
</ul>
Stocks In Focus:
<ul>
<li>Fisker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>) slumped over 22% after the electric vehicle maker reported a wider-than-expected third-quarter loss and weak deliveries.</li>
<li>Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) shares rose over 6% after the home improvement retailer reported third-quarter results that beat expectations. The company narrowed its guidance ranges for 2023.</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 17%, aided by the reduction in expected interest rates. Industry peers such as SolarEdge Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) and First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) rallied 13%. </li>
<li>Commercial real estate companies including Alexandria Real Estate Equities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARE#NYSE">ARE</a>) and Boston Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>) rocketed 10%. </li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil fell 0.2%, with a barrel of WTI-grade crude trading at $78.26. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 0.2% lower to $72.81.&nbsp;&nbsp;
Treasury yields plummeted,&nbsp;with the 2-year yield down by 21 basis points to 4.83% and the 10-year yield down by 18&nbsp;basis points to 4.46%.&nbsp;The iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) was 1.9% higher for the day.&nbsp;
The dollar fell, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), down 1.4%. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;rose 0.9% to 1.0872.
European equity indexes closed sharply in the green. The SPDR DJ Euro STOXX 50 ETF  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 3%. 
Gold rose 0.9%&nbsp;to $1,962/oz, while silver rallied 3.5%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 1.4% lower to $35,974.
Staff writer Piero Cingari updated this report midday Tuesday.&nbsp;
Read Next:<a href="https://www.benzinga.com/fintech/23/11/35766141/nasdaqs-ai-push-to-meet-evolving-data-demands-from-retail-traders"> NASDAQ&#8217;s AI Push To Meet Evolving Data Demands From Retail Traders</a>
Photo: Shutterstock

CSIQ

ENPH

SEDG

VIPS

Market Soars, Dollar Slides As Moderate Inflation Signals Potential Fed Policy Shift: What's Driving Markets Tuesday?

The markets exhibited a mixed trend Monday, with technology heavyweights experienced a slight downturn as investors adopt a cautious approach ahead of the pivotal<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35757206/inflations-slow-retreat-october-cpi-could-signal-crucial-shift-in-economic-landscap"> consumer price index report on Tuesday.</a>
Adding to the market&#8217;s unease: Moody&#8217;s decision to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35735142/moodys-casts-a-dark-cloud-us-outlook-downgraded-to-negative-over-escalating-deficit">revise the U.S. sovereign rating outlook Friday from stable to negative</a>, citing growing concerns about fiscal management amid rising interest rates and significant fiscal deficits.
The U.S. dollar saw a modest decline of 0.2%, while commodities experienced a notable surge across the board. WTI crude oil and U.S. natural gas prices increased by 1.5% and 6%, respectively. The jump in the latter&#8217;s prices was particularly influenced by forecasts of colder weather and a subsequent rise in heating demand in late November.
Chinese-related stocks surged, dragging gains on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>), both up 4%, following reports that China may end its commercial freeze on buying 737 Max when U.S. President Joe Biden and Chinese President Xi Jinping meet this week. 
Cues From Monday&#8217;s Trading:
The S&amp;P 500 was flat for the day, while tech stocks in the Nasdaq 100 fell 0.24%. Blue chips outperformed, as the Dow Jones Industrial Average rose 0.30%, while small caps in the Russell 2000 were little changed. 
 US Index Performance on Monday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.24%</td>
<td>15,489.42</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.03%</td>
<td>4,415.87</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.65%</td>
<td>34,368.80</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.07%</td>
<td>1,706.18</td>
</tr>
</tbody>
</table>
</figure>
Monday Trading In Major US Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was unchanged to $440.64.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $343.82. </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.3% to $377, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500 sector ETFs:
<ul>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the outperformer for the day, up 0.8%.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) was the laggard, down 0.9%.</li>
</ul>
Analyst Color:
Brad McMillan, chief investment officer at Commonwealth Financial Network, is optimistic regarding the resilience of the equity market. &#8220;Despite some bouncing around in both rates and the market, there is some resilience to both the economy and markets right now,&#8221; he said.
&#8220;The ability of the markets to weather bad news — based on the continued growth of the economy — is another sign that while there are real risks out there,&#8221; the overall picture is still pretty solid, he said. 
Daniel Ives, an analyst at Wedbush, said the tech bull market has begun. &#8220;We believe the new tech bull market has now begun and tech stocks are set up for a strong 2024 as the AI spending tidal wave hits the shores of the broader tech sector,&#8221; he said.
See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>U.S. medical device companies&#8217; stocks climbed on Monday, as concerns about the impact of Novo Nordisk&#8217;s weight-loss drug Wegovy on the cardiac health segment appeared less severe than investors initially anticipated, providing some relief to the struggling sector. DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>) was up 8%, while Insulet Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PODD#NASDAQ">PODD</a>) surged 7%, both among the S&amp;P 500&#8217;s daily best performers. </li>
<li>Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) rose 1.6% following the subpar results reported last week and the &#8220;going concern&#8221; warning.</li>
<li>Under Armour Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAA#NYSE">UAA</a>) fell 5%, following the disappointing revenue guidance reported last week. </li>
<li>Companies reacting to earnings include Henry Schein, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) (up about 6.5%) monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) (up about 11%), Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) (down about 3%) and Tower Semiconductor Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) (up about 2%). </li>
<li>Fisker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>) is due to report after the market close.</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil rose 1.3%, with a barrel of WTI-grade crude trading at $78.27. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 1.4% higher to $72.77.&nbsp;&nbsp;
Treasury yields were steady,&nbsp;with the 10-year yield down at 4.65% and the 30-year yield at 4.76%.&nbsp;The iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) was 0.4% lower for the day.&nbsp;
The dollar fell, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), down 0.2%. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;was 0.3% higher to 1.07.
European equity indexes closed in the green. The SPDR DJ Euro STOXX 50 Etf&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.2%.&nbsp;
Gold rose 0.4%&nbsp;to $1,947/oz.&nbsp;The SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>) was 0.6% higher to $180.&nbsp;Silver was largely flat.&nbsp;Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 1.2% to $36,656.
Staff writer Piero Cingari updated this report midday Monday.&nbsp;
Read now: <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35753880/exclusive-kevin-oleary-says-theres-no-reason-to-get-excited-about-bitcoin-etf-until-theres">EXCLUSIVE: Kevin O&#8217;Leary Says There&#8217;s No Reason To Get Excited About Bitcoin ETF Without Regulatory Clarity</a>
Photo via Shutterstock.

Pre-Market Outlook

HSIC

MNDY

PLUG

PODD

TSEM

Stocks Pause Ahead Of CPI Report; Commodities, Tesla, Boeing Surge On Rising China Hopes: What's Driving Markets Monday?

Stocks rallied on Friday, reversing the negative session from Thursday, which had broken the longest winning streak in over two years, following hawkish comments by Fed Chair Jerome Powell <a href="https://www.benzinga.com/markets/equities/23/11/35715608/s-p-500-nasdaq-100-snap-longest-winning-streak-in-two-years-as-feds-powell-chills-markets">on Federal Reserve policy.</a>
The tech sector is back on the rise, driven by the performance of the Magnificent 7 titans, with Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reaching a new all-time high, breaking above $369 at the time of publication.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is also up, marking its fourth consecutive week of gains, the best streak since January 2023.
The University of Michigan consumer sentiment index fell to 60.4 in November, the lowest in six months, well below the forecast of 63.7. However, five-year inflation expectations reached 4.4%, the highest level since March 2011.
Cues From Friday's Trading:
The S&amp;P 500 rose 1%, on track to end the week in the green. Blue chips in the Dow Jones Industrial Average rose 0.7%, battling to close the week in the green. 
The tech-heavy Nasdaq 100 soared 1.8%, pushing weekly gains to 2.4%. Small caps also rose 0.8%, but remained negative for the week. 
 US Index Performance On Friday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index </td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+1.80%</td>
<td>15,462.63</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.13%</td>
<td>4,396.76</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.69%</td>
<td>34,158.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.77%</td>
<td>1,700.36</td>
</tr>
</tbody>
</table>
</figure>
Thursday&#8217;s&nbsp;Trading In Major US&nbsp;Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 1.2% higher to&nbsp;$439.15</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.9% to $342.02&nbsp;</li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1.9% to $376.93, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500&#8217;s sector ETFs:
<ul>
<li>The Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, rising 2.2%</li>
<li>The Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) was the laggard, up by 0.1%. </li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) tumbled over 43% to $3.38 following its t<a href="https://www.benzinga.com/markets/equities/23/11/35720218/plug-power-flashes-going-concern-warning-following-downbeat-q3-results-stock-sinks-over-25">hird-quarter miss and &#8220;going concern&#8221; warning.</a></li>
<li>Among the other stocks moving on <a href="https://www.benzinga.com/calendars/earnings">earnings news </a>are Alarm.com Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALRM#NASDAQ">ALRM</a>) (up nearly 10%) Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) (up about 30.5%), Hologic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>) (up over 6%), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) (down about 10%), Lions Gate Entertainment Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) (flat), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) (up over 11%), Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) (up over 4%), The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>) (down over 16%) and Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>) (down about 5%).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil rose 2.2%, with a barrel of WTI-grade crude trading at $81. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 2.3% higher to $71.83.&nbsp;&nbsp;
Treasury yields were mostly steady,&nbsp;with the 10-year yield at 4.63% and the two-year yield up by 3&nbsp;basis points to 5.05%.&nbsp;The iShares 20+ Year Treasury Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NYSE">TLT</a>) was 0.4% higher for the day.&nbsp;
The dollar eased, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) down 0.1%. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;was 0.1% higher to 1.0680.
European equity indices had a positive session. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 0.5%.&nbsp;
Gold fell 1.2% to $1,934/oz, while silver fell 1.8% to $22.22.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/bonds/23/11/35706307/feds-barkin-warns-there-is-more-inflation-to-come-calls-for-decisive-economic-slowdown">Fed&#8217;s Barkin Warns &#8216;There Is More Inflation To Come,&#8217; Calls For Decisive Economic Slowdown</a>
Photo: Shutterstock

$ETC

ALRM

BLNK

HOLX

ILMN

NVTS

WYNN

Tech Stocks Soar, Microsoft Reaches Record High As AI Rally Resumes: What's Driving Markets Friday?

The stock markets is in a lackluster session on Thursday, with traders eagerly awaiting more clues on monetary policy from Fed Chair Jerome Powell, who is set to deliver live remarks at <a href="https://www.benzinga.com/topic/jerome-powell">2 p.m. in Washington.</a>
In other Fed commentary, Richmond Fed President Thomas Barkin emphasized the need for an economic slowdown to complete the disinflation process and <a href="https://www.benzinga.com/markets/bonds/23/11/35706307/feds-barkin-warns-there-is-more-inflation-to-come-calls-for-decisive-economic-slowdown">reach the 2% target</a>.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) experienced a rollercoaster ride, surging as much as 6.5% at 10 a.m. only to nearly erase its gains by noon trading in New York.
Jitters returned to the Treasury market, with yields surging significantly on the long end of the curve. The 30-year yield increased by 11 basis points to 4.73%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) declined by 1.5%.
The S&amp;P 500 is on a eight-day winning streak, while the Nasdaq 100 has risen in each of the last nine sessions. 
Cues From Thursday&#8217;s Trading:
The S&amp;P 500 hovered around flat trading, while blue-chip stocks in the Dow Jones were a tad lower. 
The tech-heavy Nasdaq 100 inched 0.1% higher, while small caps fell 0.2%
 US Index Performance On Wednesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.09%</td>
<td>15,326.45</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.03%</td>
<td>4,381.49</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.08%</td>
<td>34,088.29</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.19%</td>
<td>1,710.93</td>
</tr>
</tbody>
</table>
</figure>
Thursday&#8217;s&nbsp;Trading In Major US&nbsp;Equity ETFs
<ul>
<li>The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was flat at $437.37.</li>
<li>The SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) held steady at $341.12. </li>
<li>The Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.15% to $373, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a></li>
</ul>
Looking at S&amp;P 500 sector ETFs:
<ul>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) was the outperformer, up 0.7%.</li>
<li>The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) was the laggard, down 1.5%. </li>
</ul>
Upcoming Economic Data:
The Labor Department reported that weekly jobless claims were 217,000 for the week ending Nov.4, marginally lower than the revised 220,000 of the prior week, and broadly in line with the expected 218,000. 
The Treasury will auction 30-year bonds at 1 p.m. ET.
Fed Chair Powell will participate in a panel discussion at the IMF at 2 p.m. ET.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) rallied over 7% as investors reacted positively to its fourth-quarter earnings report and the <a href="https://www.benzinga.com/news/earnings/23/11/35692758/disney-ceo-bob-iger-reveals-4-building-blocks-for-reviving-mouse-house-move-beyond-this-period-of-f">management commentary on the call.</a></li>
<li>Among the other stocks moving on earnings news are Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) (up over 17%), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>) (down over 4%), AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) (down about 11%), Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) (down about 14%), Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) (up over 9%), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) (flat), Virgin Galactic Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) (up over 24%), AstraZeneca plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) (up over 1%) and Becton, Dickinson and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) (down 8%), </li>
<li>Companies reporting after the close include Alarm.com Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALRM#NASDAQ">ALRM</a>), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>), DoubleVerify Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>), Hologic, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOLX#NASDAQ">HOLX</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Lions Gate Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>), Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>), SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>), Plug Power, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) and Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil rose 0.6%, with a barrel of WTI-grade crude trading at $76. The United States Oil Fund&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was 0.7% higher to $70.66.&nbsp;&nbsp;
Treasury yields were slightly higher,&nbsp;with the 10-year yield up by 8 basis points to 4.57%. The US Treasury Note ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UTEN#NYSE">UTEN</a>) was 0.6% lower. 
The dollar held steady, with the U.S. dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) flat. The EUR/USD pair, which is tracked by the Invesco CurrecyShares Euro Currency Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXE#NYSE">FXE</a>),&nbsp;was unchanged at 1.07.
European equity indices had a positive session. The SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>) rose 1%.&nbsp;
Gold rallied 0.6%&nbsp;to $1,961/oz, while silver rose 1.3% to $22.82. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was 2.2% higher to $36,441.
Staff writer Piero Cingari updated this report midday Thursday.&nbsp;
Read Next: <a href="https://www.benzinga.com/23/11/35687689/us-economy-set-for-upturn-in-2024-goldman-sachs-projects-s-p-500-bonds-will-climb-as-inflation-subsi">US Economy Primed For 2024 Rebound: Goldman Sachs Envisions S&amp;P 500, Bond Surge As Inflation Pressure Eases</a>
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