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Afternoon Note

November to Remember

By Karina Hernandez, Senior Research Analyst
11/15/2023 1:19 PM

The November to remember keeps rolling in the Market, with the Dow leading +0.35% and about 5.65% so far this month. So far, The S&P and Nasdaq are also having its best November since November 2020, and are up ~7.4% and ~9.9%, respectively.

Ryan Detrick put out an interesting piece of market history that suggest this market could rally another 3.4% this year.

On the economic front, The Empire Fed report came in better-than-expected climbing to 9.1 from -4.6 (the street was looking for -3.0) but new orders were down -0.7 to -4.9 and number of employees dropped 7.6 to -4.5.

Business inventories unchanged at 0.4% and in-line with economists’ expectations.  

Ten sectors in positive territory, led by Material and Financials while Utilities is the sole loser this afternoon.

HAPPY BIRTHDAY...................! :)

Robert E Zerbe on 11/15/2023 2:29:49 PM

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