Stocks End Higher, S&P And Nasdaq Up 5 Days In A Row

Market Moves You Need to See Stocks End Higher, S&P And Nasdaq Up 5 Days In A Row [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Higher, S&P And Nasdaq Up 5 Days In A Row [Stocks End Higher, S&P And Nasdaq Up 5 Days In A Row]Image: Bigstock Stocks closed higher yesterday to start the shortened holiday trading week. After closing higher for 3 weeks in a row, and putting in their best 3-week period in years, it looks like stocks could be ready to make it week number 4. Last week's better than expected CPI and PPI reports confirmed that inflation remains on the decline. We've got one more inflation report next week (11/30) with the Personal Consumption Expenditures (PCE) index (which is the Fed's preferred inflation gauge). That's the last inflation report before the next FOMC announcement on 12/13. But it's looking more and more likely that the Fed will leave rates unchanged, yet again, making it their 3rd pause in 3 consecutive meetings. In fact, Fed Funds traders are placing a 99.8% probability that the Fed leaves rates where they are. Additionally, they are giving zero percent odds they raise in December, and are actually giving a 0.2% chance they cut rates by a quarter point. I don't see much of a statistical difference between 0.00% and 0.20%. But the point is, Fed Fund traders are in solid agreement that the Fed stands pat. As for cutting, it's highly unlikely. The longest of long shots. But after UBS came out last week suggesting the Fed could cut rates by as much as -2.75% next year (bringing the Fed Funds rate down to a midpoint of 2.63%), more and more people are expecting a bigger Fed pivot (the Fed only forecast a -50 basis point cut next year), and sooner too. In other news, yesterday's Leading Indicators report slipped -0.8% m/m vs. last month's -0.7% and views for -0.6%. Today we'll get Existing Home Sales, and the Chicago Fed National Activity Index. We'll also get the FOMC minutes from November's meeting. Even though earnings season is mostly over, there's still companies that have yet to report. One of the biggest and most anticipated ones is NVIDIA. They will be reporting after the close. But just yesterday, they made another new all-time high. YTD they have gained a whopping 244%. We'll also hear from Lowe's, Medtronic, and Baidu before the open. And Autodesk, HP, and Urban Outfitters after the close. But NVIDIA will be the main event today. Remember, the market is closed on Thursday 11/23, for Thanksgiving Day. And the market closes early on Friday 11/24, for Black Friday. In the meantime, the blistering Q4 rally continues. The major indexes are within striking distance of making new YTD highs. And it looks like we are headed for a strong year-end finish. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [See Zacks' Top Stocks for Free]( Starting today, you can get instant access to the latest picks from our time-proven strategies which since 2000 have soared far above the market. While the S&P 500 averaged +6.2% per year, our top strategies averaged gains as high as +46.4%, +49.5% and +55.2% per year. You'll also get our free Special Report, Top 10 Stock Screening Strategies that Make Money which spells out the formulas behind these top strategies. [See Stocks Free »]( Most Popular Articles from Zacks.com [5 HMO Stocks Set to Gain From Growing Membership, Tech Advancements]( Rising premiums, contract wins, a telehealth services suite and a M&A strategy are expected to drive the performances of these Medical-HMO industry players. [Read More »]( [3 Reasons Bitcoin's Momentum is just Beginning]( Stock Strategist Andrew Rocco explains why the the world's most popular cryptocurrency's momentum is just starting. [Read More »]( [Black Friday Consumers, or NVIDIA? Global Week Ahead]( The crucial holiday shopping season kicks off with Black Friday at a time when investors are questioning whether the consumer-driven U.S. economy can remain resilient. [Read More »]( [Billionaires Bullish on Big Tech: ETFs in Focus]( We have profiled a few stocks and ETFs that billionaire investors are currently picking. [Read More »]( [5 Biotechnology Stocks to Buy for a Stable Portfolio in 2024]( Things are looking better for the biotech industry in the second half of 2023 after a decent performance in the first half. [Read More »]( [Start Every Day Ahead of Wall Street]( Before you make a trade, get today's market news from Zacks' latest Ahead of Wall Street article. With timely information from Zacks analysts, each daily article features a preview of where the market is headed. Plus, Zacks #1s on the move, stock research reports, earnings and economic news, and a top-headline analyst blog. All of it in one easy-to-follow place to give you the edge. [Get the latest news »]( [Bull of the Day: Coinbase (COIN)]( The world's largest crypto exchange is set up for success despite its legal challenges. [Read More »]( [New Zacks Strong Buys for November 21st]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List. [Read More »]( More Zacks Resources Mobile App Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". [www.zacks.com/terms_of_service]( Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through October 2, 2023. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606