The market has recovered from its shaky start driven by news of a possible December rate cut odds and some buy-the-dip interest.

All eleven sectors trade in green territory, with eight holding gains wider than 1%. The Health Care (XLV) sector is showing impressive dominance, sitting at a 7.8% month-to-date gain. The next best sector in Consumer Discretionary (XLY) with Ross Stores (ROST) as the top performer after a solid beat-and-raise earnings report.

On the economic front, the final University of Michigan Consumer Sentiment increased to 51 from the preliminary reading of 50.3, surpassing consensus of 50.3. However, the numbers came below October reading of 53.6 and last year reading in the same period of 71.83. Current conditions came down to 51.1 from 52.3 preliminary reading, and expectations rose to 51 from 49 initial reading.

Inflation expectations were revised down in November with the short term (1-year) down to 4.5% from initial reading of 4.7%. The long-term expectations (5-10 years) dropped to 3.4% from initial reading of 3.6%.

The preliminary November S&P Global U.S. Services PMI declined to 51.9 from 52.5 in October, missing consensus of 52.

If the market holds its gain, it could signal the start of a turnaround from a tumultuous week.

Have a great weekend!