"At some point, you know, of course, a slowdown becomes a victim of its own success, so to speak," Jack Ablin, investment chief at Cresset Capital, said Wednesday on CNBC's "Power Lunch." The investor pointed to same-store sales growth that has matched inflation over the last 12 months. However, one market observer warned investors to keep an eye on earnings as the economy starts to show signs of slowing. Stocks are riding high on hopes the Federal Reserve is done with its tightening campaign. The New York Stock Exchange is closed for Thanksgiving on Thursday and will close early on Friday. … Against that backdrop, as we head into 2024, I think equities will continue to perform pretty well." "A soft landing from the Fed becoming more and more of a possibility as inflation continues to come down. "I'd probably be leaning more towards the camp at this rally could continue a little bit longer," said Charlie Ripley, senior investment strategist at Allianz Investment Management. The Dow has advanced nearly 7%, and the S&P 500 is up more than 8% during the period. The major averages are all still on pace for monthly gains, however. The S&P 500 and Nasdaq Composite on Tuesday ended a five-day winning streak, as the blistering November rally took a pause. ![]() The company posted fiscal third-quarter adjusted earnings and revenue that beat expectations, but warned export restrictions on China would weigh on its fiscal fourth quarter. Investors, however, continue to remain optimistic that the central bank will not raise rates at its December meeting, according to fed funds futures trading.Ĭhipmaker Nvidia reported its latest quarterly results Tuesday after the bell. On Tuesday, the Federal Reserve signaled in its latest meeting notes that monetary policy will remain restrictive, and gave no indication of cutting interest rates anytime soon. This also marks a significant drop for 10-year yield after it crossed the 5% mark in October for the first time in 16 years. ![]() It later recovered and was last little changed at 4.41%. The yield on the 10-year Treasury briefly fell to 4.369% Wednesday morning, the lowest level since Sep. Marathon Oil, EOG Resources and Devon Energy all closed lower. Meanwhile, the energy sector lost 0.1% Wednesday after OPEC delayed a meeting on production cuts originally scheduled for the weekend. Small - and mid-caps outperformed Wednesday, rising 0.7% and 0.6%, respectively. The tech-heavy Nasdaq also saw greater participation, with 62.9% of the stocks in the index rising. More than half of the stocks trading on the New York Stock Exchange were up Wednesday, indicating widening breadth for the market rally. The Nasdaq Composite advanced 0.46% to 14,265.86. The Dow Jones Industrial Average gained 184.74 points, or 0.53%, to 35,273.03. Stocks rose Wednesday after yields briefly fell to their lowest level in two months, and the November market rally broadened into the Thanksgiving holiday. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit
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