Invesco QQQ Trust, Series 1 (NASDAQ: QQQ)

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Invesco QQQ Trust, Series 1

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To maintain the correspondence between the composition and weights of the securities in the trust (the securities) and the stocks in the NASDAQ-100 Index, the adviser adjusts the securities from time to time to conform to periodic changes in the identity and/or relative weights of index securities. The composition and weighting of the securities portion of a portfolio deposit are also adjusted to conform to changes in the index.

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Wall Street experienced subdued trading on Thursday morning, with major indices remaining near the flatline as investors awaited further confirmation of potential interest rate cuts from the <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42346164/november-jobs-report-preview-will-it-seal-the-deal-for-a-fed-interest-rate-cut">upcoming November jobs report.</a>
The S&amp;P 500 and Nasdaq 100 edged up by 0.1%, extending their record-high levels, while the Dow Jones Industrial Average slipped 0.3%. Small-cap stocks underperformed, with the Russell 2000 declining 0.8%.
Airline stocks emerged as a standout industry, buoyed by American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), which surged by a staggering 16% after the company raised its quarterly growth forecast on robust travel demand. 
Shares of United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) gained 5%, while Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) climbed 4.3%. The broader sector, tracked by the U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), advanced 4%, reaching levels unseen since June 2021.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) added more than 3%, touching highs last seen in March 2022 after Bank of America raised its 12-month price target on the stock from $350 to $400, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42344440/teslas-path-to-400-bank-of-america-highlights-ev-ai-growth">citing improving growth prospects.</a>
The U.S. dollar softened by 0.4%, while Treasury yields held steady, with little movement across the curve.
Gold dropped 0.9%, while copper and silver retreated 0.4% and 0.7%, respectively, reflecting broader weakness in metals.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was up 2.4% to trade around $101,000. The leading cryptocurrency briefly touched $103,650 by 10:00 a.m. ET before retreating slightly amid high volatility.
<h3 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,090.78</td>
<td>0.1%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,497.32</td>
<td>0.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,829.20</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,407.36</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120224&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) inched 0.1% up to $608.06.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.3% to $449.43.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% up to $523.76.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.8% to $239.12.</li>
<li>The&nbsp;Consumer Discretionary Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1%; the&nbsp;Materials Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) lagged, down 1.5%.</li>
</ul>
<h3 class="wp-block-heading">Thursday&#8217;s Stock Movers</h3>
<ul>
<li>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) fell over 11% in reaction to the company&#8217;s latest earnings report. </li>
<li>Other stocks reacting to earnings included SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>), down 10.3%, PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>), down 0.7%, Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>), up 12%, Kroeger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), up 1.3%, and Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), down 3%. </li>
<li>Companies slated to report their earnings after the close are DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>), Ulta Beauty Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>), Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>), Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>), Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>), and Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>). </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42336184/exclusive-bitcoin-crossing-100000-is-a-defining-moment-experts-say">EXCLUSIVE: Bitcoin Crossing $100,000 Is A &#8216;Defining Moment,&#8217; Experts Say</a></li>
</ul>
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US Stocks Hold Steady, Travel Demand Fuels Airlines, Tesla Reaches 32-Month Highs: What's Driving Markets Thursday?

U.S. stocks could open on a weak note on Thursday after the <a href="https://www.benzinga.com/24/12/42332881/dow-settles-above-45000-for-first-time-investor-sentiment-improves-fear-greed-index-in-greed-zone">averages closed at a record high on Wednesday</a>. Futures of all three major indices were marginally down on Thursday, pointing to cautious sentiment on Wall Street.
The tentativeness in U.S. futures comes after Federal Reserve chair Jerome Powell tried to downplay expectations of swift rate cuts, citing a strong economy and uncertainty about inflation.
"The labor market is better, and the downside risks appear to be less in the labor market. Growth is definitely stronger than we thought, and inflation is coming [out] a little higher," Powell said during an interview at the New York Times' DealBook Summit on Wednesday.
"So, the good news is that we can afford to be a little more cautious as we try to find neutral."
However, CME Group's FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> shows that expectations of a 25-basis-point rate cut in December stand at 74%, up from 66.5% a week ago.
On Thursday, Bitcoin surged past $103,000 for the first time, with the cryptocurrency trading at $102,407 at the time of writing, according to data from <a href="http://pro.benzinga.com">Benzinga Pro. </a>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.10%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.02%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.06%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.03% to $607.46 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) declined 0.10% to $522.72, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed on a positive note on Wednesday, with all three major indices registering healthy gains. The Dow Jones settled above 45,000 for the first time, while the S&amp;P 500 and Nasdaq solidified their gains.
Crude oil prices edged up on Thursday ahead of OPEC+ decision on production.
Treasury yields rose after jobs data revealed private payrolls came in lower than expected.
On the economic data front, U.S. private businesses added 146K workers to their payrolls for the month of November compared to a revised 184K gain in October, versus market estimates of 150K. U.S. factory orders rose by 0.2% from the previous month to $586.7 billion in October. The ISM services PMI fell to 52.1 in November compared to 56 in October and down from market estimates of 55.5.
Most sectors on the S&amp;P 500 closed on a negative note, with energy, materials, and financial stocks recording the biggest losses on Wednesday.
However, consumer discretionary and information technology stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.30%</td>
<td>19,735.12</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.61%</td>
<td>6,086.49</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.69%</td>
<td>45,014.04</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.42%</td>
<td>2,426.56</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Analysts at BlackRock Investment Institute expect American companies to register growth in the upcoming year.
"Currently, across all the scenarios in the outlook, the platform is gravitating towards the US corporate strength scenario, which is another way of calling for US exceptionalism," said BlackRock Investment Institute's chief investment strategist Wei Li at a media roundtable on Wednesday, according <a href="https://finance.yahoo.com/news/blackrock-sees-exceptionalism-powering-us-stocks-higher-in-2025-100025443.html">to</a> Yahoo Finance.
BlackRock strategists are not alone in their bullish outlook on US equities going into 2025.
Wells Fargo strategists also expect a bull run in 2025, giving a target of 7,007 for the S&amp;P 500.
"On balance, we expect the Trump Administration to usher in a macro environment that is increasingly favorable for stocks at a time when the Fed will be slowly reducing rates," said Wells Fargo&#8217;s Christopher Harvey and his team of strategists.
Ryan Detrick, chief market strategist at Carson Group, explained why bears shouldn't bet against equities in December.
"When the S&amp;P 500 was up 20% or more for the year heading into the final month, December has been up nine of the past 10 times," said Detrick in his latest note.
Detrick's analysis shows that big gains in November set equities on a path for a rally in the new year, too.
"Do big monthly gains matter? We'd say yes, as the S&amp;P 500 is up an average of 13.5% a year later and higher nearly 84% of the time after a calendar month gain of more than 5%."
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Thursday's economic calendar includes the release of initial jobless claims data for November and U.S. trade deficit data for October will be released at 8:30 a.m. ET.
Stocks In Focus:
<ul>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) <a href="https://www.benzinga.com/markets/equities/24/12/42333575/microstrategy-shares-rise-813-in-pre-market-as-bitcoin-surpasses-100k-driving-institutional-interest-and-490-gains-this-year">stock surged over 8%</a> in premarket trading on Thursday, while Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) surged over 3% after Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hit the <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">much-awaited $100,000</a> mark for the first time in its history late night on Wednesday.</li>
<li>SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) stock plunged 15% in premarket trading after the company <a href="https://www.benzinga.com/news/earnings/24/12/42327667/whats-going-on-with-sentinelone-stock-after-hours">missed earnings expectations</a>.</li>
<li>Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) stock fell over 7% in premarket after the software provider's guidance missed estimates.</li>
<li>Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) stock surged over 13% in premarket after the company raised guidance following strong Black Friday sales and a new CEO announcement.</li>
<li>Investors are awaiting earnings results from Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), and Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, gaining 0.50% to hover around $68.88 per barrel.
The 10-year Treasury note yield edged up to 4.207%.
Major Asian markets ended mixed on Thursday, while European markets were in the green in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42333041/teslas-bitcoin-holdings-criticized-by-gary-black-calls-them-irrelevant-to-tsla-stock-price-and-urges-focus-on-ev-growth-and-capital-allocation">Gary Black Says Tesla&#8217;s Bitcoin Holdings Not &#8216;Relevant&#8217; To TSLA&#8217;s Stock Price</a></li>
</ul>
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US Stocks Likely To See Tepid Opening As Bitcoin Blasts Through $103,000: Investors Eye Jobless Claims Data While BlackRock Expects 'US Exceptionalism' To Power Earnings In 2025

The <a href="https://www.benzinga.com/general/education/24/07/39717220/warren-buffett-indicator-sounds-alarm-stock-market-levels-now-surpass-dot-com-bubble-great-fina">Buffett Indicator</a> &#8211; a market valuation measure &#8211; is signaling potential danger as it surpasses levels witnessed during the Dot-Com Bubble and the Great Financial Crisis.
What Happened: This indicator, attributed to&nbsp;Berkshire Hathaway Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO Warren Buffett, compares&nbsp;the market capitalization of stocks&nbsp;to the Gross Domestic Product (GDP) to determine if&nbsp;equities are overvalued or undervalued. 
The total market index,&nbsp;tracked by the Wilshire 5000,&nbsp;and the U.S. GDP are used to calculate this ratio. The Wilshire 5000, a market-cap-weighted index, tracks&nbsp;all U.S. publicly traded companies,&nbsp;which includes more than 3,000 firms. The higher the ratio, the more overvalued the market is deemed to be.
Data from Longtermtrends <a href="https://www.longtermtrends.net/market-cap-to-gdp-the-buffett-indicator/">reveals</a> that the current Wilshire 5000-to-GDP ratio stands at approximately 208%, surpassing levels seen prior to both the Dot-Com Bubble and the Great Financial Crisis. 
See Also: <a href="https://www.benzinga.com/markets/24/12/42309028/sp-500s-record-breaking-streak-in-2024-could-signal-caution-for-investors-in-2025-warn-analysts-stocks-do-not-go-up-forever">S&amp;P 500&#8217;s Record-Breaking Streak In 2024 Could Signal Caution For Investors In 2025, Warn Analysts: &#8216;Stocks Do Not Go Up Forever&#8217;</a>
For context, during the height of the Internet stock frenzy in 2000, the Buffett Indicator reached 140%. In 2007, just before the subprime mortgage crisis disrupted global markets, the ratio was around 110%.
In a Fortune <a href="https://www.forbes.com/sites/chuckjones/2016/06/21/warren-buffetts-gdp-to-market-cap-ratio-signaling-low-returns/">article</a> from 2001, Buffett characterized this level as &#8220;playing with fire&#8221; alluding to the dotcom bubble.
&#8220;Nearly two years ago the ratio rose to an unprecedented level,&#8221; Buffett wrote.
&#8220;That should have been a very strong warning signal.&#8221;
Why It Matters: Berkshire&nbsp;has been offloading stocks and <a href="https://www.benzinga.com/markets/equities/24/11/42153356/is-warren-buffett-preparing-for-a-market-downturn-with-berkshire-hathaways-325b-cash-pile-analyst-says-internet-bubble-and-2008-crash-may-have-lessons">bolstering its cash reserves</a> recently. This could be a sign of Buffett&#8217;s wariness of an overpriced market, or it could be setting the stage&nbsp;for potential acquisitions. Buffett has&nbsp;previously expressed that Berkshire would be receptive to such opportunities.
Despite this warning, some analysts remain optimistic about the stock market's future.&nbsp;Bank of America analysts&nbsp;have predicted&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities" target="_blank" rel="noreferrer noopener">a positive outlook for stocks in 2025</a>, with the S&amp;P 500 Index expected to reach 6,666 by the end of 2025, marking a 10% increase from current levels. This forecast is based on confidence in productivity gains, resilient corporate earnings, and strategic sector rotation.
Ark Invest's Cathie Wood&nbsp;has also expressed&nbsp;<a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line" target="_blank" rel="noreferrer noopener">her positive outlook</a>&nbsp;for the stock market under President-elect Donald Trump's administration. She believes that the market is already starting to anticipate a shift, indicating potential future growth.
According to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>, the S&amp;P 500 index, which is tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has gained 28.33% so far this year. During the same period, the tech-heavy Nasdaq-100, which is tracked by Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), is up 29.91%. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42331812/trumps-antitrust-chief-pick-gail-slater-signals-difficult-days-ahead-for-google-heres-why-jim-cramer-sounds-the-alarm">Jim Cramer Says Google Could Be In Hot Water As Trump Taps Gail Slater For Antitrust Position: &#8216;Not A Friend Of Big Tech&#8217;</a></li>
</ul>
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Warren Buffett Labeled It 'Playing With Fire' When The Indicator Named After Him Reached 140% — Cut To Today And It's Over 200%: Is A Market Downturn Looming?

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="628" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/04201018/image-1024x628.png" alt="" class="wp-image-3818" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/04201018/image-1024x628.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/04201018/image-300x184.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/04201018/image-768x471.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/12/04201018/image.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Making Money From Crowd Stampede</h4>
Chart of Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>). 
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of PLTR is being used to illustrate the point.&nbsp;&nbsp;</li>
<li>The chart shows that PLTR stock has gone vertical.&nbsp;&nbsp;</li>
<li>The chart shows that the Arora core position was bought at $20.15.&nbsp;&nbsp;</li>
<li>The chart shows when the Arora trade around position signal was given.&nbsp; A trade around position is a technique used by billionaires and hedge funds that can dramatically increase returns and reduce risks.&nbsp;&nbsp;</li>
<li>As full disclosure, The Arora Report system is close to giving another signal for a new trade around position on PLTR.&nbsp; </li>
<li>Palantir is a defense contractor providing mostly AI-based software.&nbsp;</li>
<li>Being a defense contractor is a complex business.&nbsp; Historically, it has taken defense contractors a very long period, many acquisitions, and storied histories to become large.&nbsp;&nbsp;&nbsp;</li>
<li>With Palantir, it is the first time that a company has become the largest defense contractor by market cap in the blink of an eye.&nbsp; More remarkable is that Palantir has achieved this feat not through a long storied history and not through acquisitions.&nbsp; Palantir has reached this status through a momo crowd and meme crowd stampede.&nbsp;&nbsp;&nbsp;</li>
<li>The chart shows that money is to be made by taking advantage of momo crowd and meme crowd stampedes.&nbsp; Over the years, we have helped our members make money from these stampedes on a number of stocks.&nbsp; Of course, prudent investors should have risk controls in place and be patient.&nbsp;&nbsp;</li>
<li>As full disclosure, PLTR was recently added to the ZYX Buy Core Model Portfolio.&nbsp;&nbsp;As full disclosure, Rtx Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>)&nbsp;is also in the ZYX Buy Core Model Portfolio.</li>
<li>RTX is the second largest defense contractor now by market cap.&nbsp;&nbsp;</li>
<li>Here is a comparison of a few key metrics between PLTR and RTX.
<ul>
<li>PLTR trailing PE is 354.&nbsp; RTX trailing PE is 34.</li>
<li>PLTR forward PE is 151.&nbsp; RTX forward PE is 19.&nbsp;</li>
<li>PLTR price/sales is 65.&nbsp; RTX price/sales is 2.&nbsp;</li>
</ul>
</li>
<li>Based on the&nbsp;<a href="https://thearorareport.com/zyxmethod">ZYX Change Method</a>&nbsp;<a href="https://thearorareport.com/zyx-quantitative-screen">quantitative screen</a>, the highest reasonable valuation of PLTR is under $40.&nbsp; PLTR is trading at $71.74 as of this writing in the premarket.&nbsp;</li>
<li>The very long term Arora target for PLTR is $123 &#8211; $136.&nbsp;</li>
<li>The foregoing also illustrates the extreme positive sentiment in the stock market.&nbsp;</li>
<li>This morning, the stock market is front running Fed Chair Powell.&nbsp; Powell will be speaking later today.&nbsp; The hopium is that Powell will be dovish and indicate a rate cut is coming in spite of a large set of data showing that it is imprudent to cut rates at this time.</li>
<li>Buying in the early trade is largely focused on large cap tech stocks as well as speculative junk stocks.&nbsp;&nbsp;</li>
<li>Also adding to the buying are comments on Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Marvell Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) conference calls regarding AI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</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>).
In the early trade, money flows are negative in Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound.&nbsp;
<h4 class="wp-block-heading">Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.&nbsp;&nbsp;The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.&nbsp;
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga">Generate Wealth Newsletter</a>.

AAPL

AMZN

GOOG

MRVL

MSFT

NVDA

PLTR

Making Money From Crowd Stampede – Palantir Becomes Largest Defense Contractor In Blink Of An Eye

Wall Street extended its rally on Wednesday, driven by robust gains in technology stocks, as investor optimism around AI-fueled <a href="https://www.benzinga.com/markets">growth continued to strengthen.</a>
The Nasdaq 100 climbed 0.9%, pushing further into record territory following Tuesday&#8217;s highs. The S&amp;P 500 advanced 0.4%, hitting 6,077—a fresh record-high milestone—eyeing its twelfth gain in thirteen sessions.
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) advanced over 2% by midday, breaking all-time highs previously set in November. The e-commerce giant&#8217;s gains were bolstered by strong early holiday sales and optimism stemming from the AWS annual conference, where AI <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42321567/amazon-hits-all-time-highs-eyes-best-2-year-rally-since-2010-cyber-season-marks-record-sales-aws-shines-with-ai-innovations">advancements took center stage.</a>
Fresh economic data offered a mixed narrative. The ISM services index showed a slower-than-expected growth in November, while ADP reported private payroll growth of 146,000 for the month, slightly under the <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42314234/private-employers-add-fewer-than-predicted-jobs-in-november-manufacturing-was-the-weakest-weve-seen-since-spring">consensus estimate of 150,000.</a>
St. Louis Federal Reserve President Alberto Musalem struck a cautious tone on monetary policy, suggesting a potential slowdown or pause in the pace of interest rate cuts <a href="https://www.benzinga.com/news/econ-s/24/12/42316647/interest-rate-cut-in-december-st-louis-feds-musalem-urges-patient-approach-in-last-mile-to-2">might soon be warranted.</a>
The dollar weakened after the ISM report, while U.S. Treasury yields erased earlier gains and remained steady by midday.
In commodities, gold added 0.3%, while natural gas and crude oil prices declined 2.6% and 1%, respectively.
Meanwhile, the cryptocurrency market struggled to keep up with the broader risk-on mood. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 0.2%, trading just above $95,000
<h2 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg</td>
<td>%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,428.69</td>
<td>+199.37</td>
<td>0.9%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,073.20</td>
<td>+23.32</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,864.46</td>
<td>+158.93</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,422.11</td>
<td>+5.76</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:50 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120224&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $606.41.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.4% to $449.79.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1% to $521.87.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rose 0.3% to $240.68.</li>
<li>The&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, rising 1.6%; the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 2.4%.</li>
</ul>
<h2 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h2>
<ul>
<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) rose over 7% in reaction to its quarterly results, which delivered slightly lower-than-expected earnings. </li>
<li>Other stocks reacting to earnings included Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) up 24%, Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) up 4.8%, The Campbells Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NASDAQ">CPB</a>) down 6%, Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) up 2.4%, and Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) down 3.8%.</li>
<li>Companies slated to report their earnings after the close are Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), SentinelOne Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>), PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) and Five Below Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>). </li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42319796/tesla-analyst-lowers-q4-delivery-estimate-says-2-dynamics-will-determine-ev-stocks-valuation">Tesla Analyst Lowers Q4 Delivery Estimate, Says 2 Dynamics Will Determine EV Stock&#8217;s Valuation</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Broad U.S. Equity ETFs

CHWY

DLTR

OKTA

PSTG

Tech Stocks Extend Record Highs On AI Optimism, Marvell Rockets, Bitcoin Hovers Near $95,000: What's Driving Markets Wednesday?

WIIM

Major indexes are higher amid strength in Salesforce and Pure Storage, which gained following their respective quarterly earnings reports.

The U.S. services sector experienced an unexpected slowdown in its growth momentum last month as respondents expressed caution regarding the economic impact of recent <a href="https://www.benzinga.com/news/econ-s">elections and impending tariffs.</a>
The Services Purchasing Managers Index released Wednesday fell to 52.1% in November, down from a two-year peak of 56% in October, missing expectations of a slower deceleration to 55.5%, according to data from the Institute for Supply Management. 
&#8220;The decrease in the Services PMI&nbsp;in November was driven by decreases in each of the four directly impacting subindexes – Business Activity, New Orders, Employment and Supplier Deliveries,&#8221; stated Steve Miller, chair of the ISM Services Business Survey Committee.
<h3 class="wp-block-heading">November ISM Services PMI: Key Highlights</h3>
<ul>
<li>The broader ISM Services PMI index recorded its fifth straight month of expansionary conditions in November, albeit at a slower speed compared to October. The survey results reinforce the view that the services sector &#8220;has returned to sustained growth,&#8221; Miller said. </li>
<li>The subindex for Business Activity eased from 57.2% in October to 53.7% in November.</li>
<li>The subindex for New Orders eased from 57.4% to 53.7%.</li>
<li>The subindex for Prices inched up from to 58.1% to 58.2%. </li>
<li>The subindex for Employment fell from 53% to 51.5%.</li>
</ul>
 &#8220;Generally, respondents' comments were neutral to positive, and both positive and negative impacts were attributed to seasonality,&#8221; Miller said. 
&#8220;Election ramifications and tariffs were mentioned often, with cautionary outlooks related to the potential impact on respondents' specific industries,&#8221; he added. 
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index (DXY) — as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) — fell in the aftermath of the ISM report and erased session gains.
Treasury yields also reversed their trend and flattened across the curve, with the 10-year yield returning to 4.23%, down from 4.27% hit earlier in the day. 
Stocks maintained modest early morning gains, with the S&amp;P 500 — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) — up by 0.2%.
Blue chips, as monitored through the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>), also inched up by 0.2%. The tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), rose 0.6%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42316647/interest-rate-cut-in-december-st-louis-feds-musalem-urges-patient-approach-in-last-mile-to-2">Interest Rate Cut In December? St. Louis Fed&#8217;s Musalem Urges &#8216;Patient Approach&#8217; In &#8216;Last Mile&#8217; To 2%</a></li>
</ul>
Photo via Shutterstock.

PowerShares DB US Dollar Index Bullish Fund

US Services Sector Growth Cools More Than Expected In November As Businesses Show 'Cautionary Outlooks' On Tariffs

U.S. stocks could open on a positive note on Wednesday after the <a href="https://www.benzinga.com/news/global/24/12/42299162/us-stocks-pause-south-korea-etfs-fall-on-political-turmoil-oil-prices-rise-above-70-whats-driving-markets-tuesday">averages maintained a cautious stance on Tuesday</a>. Futures of all three major indices were up on Wednesday, pointing to an optimistic sentiment on Wall Street.
This is a day after the S&amp;P 500 closed at another record high, with AI stocks and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) giving the benchmark index a boost. Markets brushed off rising geopolitical tensions across the world, with South Korean President Yoon declaring an emergency and enforcing martial law.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.51%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.21%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.42%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.07%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.22% to $605.23 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gained 0.54% to $519.68, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
U.S. stocks closed on a mixed note on Tuesday, with the Dow Jones closing in the red while the Nasdaq and S&amp;P 500 edged up.
Crude oil prices edged up on Wednesday after the U.S. imposed sanctions on 35 Iranian entities.
Treasury yields rose as investors waited for crucial job data to be released.
On the economic data front, the number of job openings rose by 372,000 to 7.744 million in October compared to a revised reading of 7.372 million in September and higher than market estimates of 7.48 million.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, industrials, and financial stocks recording the biggest losses on Tuesday.
However, communication services and information technology stocks bucked the overall market trend, closing the session higher.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.40%</td>
<td>19,480.91</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.05%</td>
<td>6,049.88</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.17%</td>
<td>44,705.53</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.73%</td>
<td>2,416.35</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ryan Detrick, chief market strategist at Carson Group, maintained his bullish outlook on the prospects of equity markets in December. While December has traditionally been a strong one for investors, another metric shows why bears shouldn't bet against equities this month, according to Detrick.
"When the S&amp;P 500 was up 20% or more for the year heading into the final month, December has been up nine of the past 10 times," said Detrick in his latest note.
Data shows the S&amp;P 500 has gained over 28% since the beginning of 2024 through November, and going by past trends, December looks set to close in the green, too.
It's not just December that could be positive – Detrick's analysis shows that big gains in November set equities on a path for a rally in the new year, too.
"Do big monthly gains matter? We'd say yes, as the S&amp;P 500 is up an average of 13.5% a year later and higher nearly 84% of the time after a calendar month gain of more than 5%."
He notes that a 5% gain in November has historically been followed by an average 13% increase the following year, occurring three out of four times. This pattern underpins Detrick's optimistic outlook.
Wells Fargo strategists also expect a bull run in 2025, giving a target of 7,007 for the S&amp;P 500.
"On balance, we expect the Trump Administration to usher in a macro environment that is increasingly favorable for stocks at a time when the Fed will be slowly reducing rates," said Christopher Harvey and his team of strategists.
&#8220;In short, a backdrop where equities continue to rally.&#8221;
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
Wednesday's economic calendar is packed.
<ul>
<li>November's data on ADP employment will be released at 8:15 a.m. ET.</li>
<li>St. Louis Fed President Musalem will speak at 8:45 a.m. ET.</li>
<li>The S&amp;P final U.S. services PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM services and factory orders data for November and October, respectively, will be released at 10:00 a.m. ET.</li>
<li>Fed Beige Book will be released at 2:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) <a href="https://www.benzinga.com/24/12/42309867/why-marvell-technology-shares-are-trading-higher-by-around-13-here-are-20-stocks-moving-premarket">stock surged 14% in premarket trading</a> on Wednesday after the company beat analyst estimates on the back of "strong demand from AI."</li>
<li>Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) stock rose 13% in premarket after the company <a href="https://www.benzinga.com/news/earnings/24/12/42302924/salesforce-q3-earnings-revenue-beat-eps-miss-free-cash-flow-up-30-ai-driving-groundbreaking-transformation-and-more">posted revenue</a> that topped forecasts. It also raised its fiscal year revenue guidance.</li>
<li>Okta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) stock gained 15% in premarket after the security firm handily beat Street expectations with its <a href="https://www.benzinga.com/news/earnings/24/12/42303322/okta-q3-earnings-revenue-beat-eps-beat-strong-guidance-shares-surge">third-quarter results</a>.</li>
<li>Pure Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) <a href="https://www.benzinga.com/news/earnings/24/12/42303442/pure-storage-shares-soar-after-strong-q3-q4-guidance-above-estimates-details">stock rocketed 25%</a> in premarket after the company raised its annual revenue guidance.</li>
<li>Investors are awaiting earnings results from Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), Hormel Foods Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>), and PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures surged in the early New York session, gaining 0.69% to hover around $70.42 per barrel.
The 10-year Treasury note yield edged up to 4.254%.
Major Asian markets ended mixed on Wednesday, and European markets were similarly mixed in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42310095/apple-shares-hit-new-high-despite-iphone-sales-slowdown-expert-reiterates-that-street-is-starting-to-realize-ipho">AAPL Stock Hits New High Despite Sales Slowdown: Tech Bull Says ‘Street Is Realizing' iPhone 16 Marks The &#8216;Start Of A Super Cycle&#8217; For Apple</a></li>
</ul>
Photo courtesy: Wikimedia

US Stocks Likely To Open Higher As Investors Gear Up For A Historically Strong Month: Wells Fargo Strategists See Trump Policies Setting A Backdrop Where 'Equities Continue To Rally'

The stock market&#8217;s remarkable performance in 2024, with the <a href="https://www.benzinga.com/news/earnings/24/12/42308304/sp-500-hits-another-high-as-apple-tops-242-for-the-first-time-fear-index-remains-in-greed-zone">S&amp;P 500 hitting 54 all-time highs</a>, may not be a positive indicator for the future, according to analysts.
What Happened: The S&amp;P 500&#8217;s record-breaking run in 2024, fueled by factors such as Fed rate cuts, enthusiasm for artificial intelligence, and Donald Trump&#8217;s pro-market policies, has been impressive. However, this trend could be a cause for concern, as historically, years with numerous record highs have been followed by poor stock performance, analysts at Ned Davis Research said in a Monday note.
Historical data since 1928 shows that in years when the S&amp;P 500&nbsp;hit more than 35 record&nbsp;highs, the median gain for&nbsp;the index the following year was a mere 5.8%, falling short of the long-term average of 8%. In years with&nbsp;at least 50 record highs,&nbsp;the median return&nbsp;was -6% the following year.
&#8220;The obvious challenge to momentum studies is that stocks do not go up forever,&#8221; strategists said. 
&#8220;Perhaps AI will drive another productivity and profit boom that will keep inflation and Fed policy benign. History suggests that is the exception rather than the rule.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42286866/shiba-inu-burn-rate-explodes-by-3450-is-shib-price-going-up-72-in-december-again?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Rate Explodes By 3,450%: Is SHIB Price Going Up 72% In December Again?</a>
There have been exceptions to this trend, such as in 1996 when the S&amp;P 500 returned 20% despite 77 record highs the previous year. However, these gains were largely attributed to the dot-com productivity boom. &#8220;The&nbsp;obvious challenge to momentum studies&nbsp;is that stocks do not&nbsp;go up forever,&#8221; the strategists pointed out.
Other technical indicators also suggest a weaker 2025, with the majority of the stock market&#8217;s gains being concentrated among a handful of companies.
&#8220;Continued narrowing would set the stock market up for a tougher 2025,&#8221; the strategists warned.
Why It Matters: Despite this warning, some analysts remain optimistic about the stock market&#8217;s future.&nbsp;Bank of America analysts&nbsp;have predicted <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities">a positive outlook for stocks in 2025</a>, with the S&amp;P 500 Index expected to reach 6,666 by the end of 2025, marking a 10% increase from current levels. This forecast is based on confidence in productivity gains, resilient corporate earnings, and strategic sector rotation.
Furthermore, Ark Invest&#8217;s Cathie Wood has expressed <a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line">her positive outlook</a> for the stock market under President-elect Donald Trump&#8217;s administration. She believes that the market is already starting to anticipate a shift, indicating potential future growth.
Despite a few dips, the equity markets have been trading higher than the pre-election levels after President-elect Trump&#8217;s victory.
The Dow Jones recorded a gain of 7.5% for November. The S&amp;P 500, reflected in the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) gained 5.6% last month. The Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which follows the tech-heavy Nasdaq, has posted returns close to 6%.
Meanwhile, the Dow and S&amp;P 500 <a href="https://www.benzinga.com/24/12/42260445/dow-sp-record-best-month-of-year-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone" target="_blank" rel="noreferrer noopener">recorded their best months</a> of the year in November, according to data from <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42296482/xrp-price-explodes-415-in-30-days-experts-analyze-why-xrp-is-going-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">XRP Price Explodes 415% In 30 Days: Experts Analyze Why XRP Is Going Up</a></li>
</ul>
Image via Wikimedia Commons

S&P 500's Record-Breaking Streak In 2024 Could Signal Caution For Investors In 2025, Warn Analysts: 'Stocks Do Not Go Up Forever'

Shares of ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) have gained 5.4% to $717.41 since Monday&#8217;s open as the U.S. unveiled new export controls targeting China's semiconductor sector.
These measures, restricting advanced chipmaking tools and <a href="https://www.benzinga.com/topic/artificial-intelligence">AI-related technologies</a>, could realign global supply chains, bolstering ASML's critical role in chip production.
ASML also said on Monday that the company <a href="https://www.benzinga.com/24/12/42289269/taiwan-semiconductor-supplier-asml-remains-unscathed-from-bidens-latest-semiconductor-embargo-on-china">does not expect</a> the latest semiconductor sanctions on China to affect its business in 2024.
What To Know: Based in the Netherlands, ASML is the exclusive supplier of extreme ultraviolet (EUV) lithography systems, the most advanced equipment for manufacturing cutting-edge semiconductors used in applications such as artificial intelligence, high-performance computing and 5G.
Read Also: <a href="https://www.benzinga.com/24/12/42287319/wall-streets-most-accurate-analysts-give-their-take-on-3-health-care-stocks-with-over-4-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Health Care Stocks With Over 4% Dividend Yields</a>
The company also dominates in deep ultraviolet (DUV) lithography systems, crucial for producing mature and mid-range chips. As the only firm capable of delivering EUV machines, ASML remains a linchpin for chipmakers like Taiwan Semiconductor Manufacturing Co., Intel and Samsung Electronics.
The new sanctions block exports to 140 Chinese entities and broaden the foreign direct product rule, curbing access to critical manufacturing tools. However, agreements between the U.S., the Netherlands, and Japan exempt ASML from significant disruptions, reinforcing its strategic advantage in supplying allied nations. 
With China unable to access the most advanced lithography systems, demand for ASML's equipment among non-Chinese manufacturers is expected to grow, especially as the U.S. and its allies ramp up domestic chipmaking capacities.
Read Also: <a href="https://www.benzinga.com/24/12/42281575/cathie-woods-monday-moves-4-8m-spotify-stock-sale-meets-4-7m-pinterest-shopping-spree">Cathie Wood&#8217;s Monday Moves: $4.8M Spotify Stock Sale Meets $4.7M Pinterest Shopping Spree</a>
Investors can gain exposure to ASML by investing in the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>).
<h2 class="wp-block-heading">Is ASML A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/ASML">ASML Holding</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. ASML Holding does pay a dividend, which yields 0.85% per year as of the closing price on Dec. 3, 2024. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 13.81%, you'll need to buy a share of PIMCO Dynamic Income by the Dec. 12, 2024. Once done, you can expect to receive a nominal payout of $0.22 on Jan. 2, 2025.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/ASML">ASML Holding</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, ASML has a 52-week high of $1,110.09 and a 52-week low of $645.45.

ASML

What's Going On With ASML Stock This Week?

U.S. stocks paused for a breather Tuesday, with major equity indices hovering near the flatline as investors digested global developments, including China&#8217;s ban on key raw material exports to the U.S. and South Korea&#8217;s political turmoil following the president&#8217;s <a href="https://www.benzinga.com/news/global/24/12/42292488/south-korean-etfs-slide-on-presidents-emergency-martial-law-declaration-protect-the-constitutional-democratic-order">announcement of martial law</a>.
Korean-linked exchange traded funds such as the iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) fell by 2.7%, recovering some ground from sharper morning losses. 
By midday trading in New York, large-cap stocks remained mostly unchanged, while small-cap stocks underperformed, posting notable losses.
Sectors traded within narrow ranges, with energy and communication services showing slight outperformance.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) stood out, as its shares climbed by 2.1%, setting fresh all-time highs. 
In economic news, U.S. job openings rose to 7.744 million in October, exceeding expectations of 7.48 million and improving from September&#8217;s 7.372 million reading. The data signals ongoing resilience in the labor market, ahead of the highly awaited November jobs report scheduled for Friday.
The U.S. Dollar Index (DXY) edged down 0.2%, reversing part of Monday&#8217;s 0.6% rally. Meanwhile, Treasury yields showed little movement, with the 10-year yield inching up 1 basis point to 4.20%.
Precious metals saw modest gains, with gold rising 0.3% and silver advancing 1.7%.
Oil prices surged 2% after OPEC+ confirmed an extension of production cuts. Additionally, the U.S. imposed sanctions on 35 entities and vessels linked to illicit Iranian oil shipments, further supporting crude prices.
In the cryptocurrency market, sentiment remained subdued. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) traded steadily around $95,900, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) fell by 1.9% and 4.3%, respectively.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg. %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,185.87</td>
<td>0.1 %</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,048.77</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,747.11</td>
<td>-0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,421.44</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:00 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120224&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) flattened at $603.70.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;held steady at $448.42.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.1% up to $515.96.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.5% to $240.62.</li>
<li>The&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, rising 0.5%; the&nbsp;Industrial Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>) lagged, down 0.6%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) dropped 5% in reaction to the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42275410/intel-ceo-pat-gelsinger-forced-out-by-board-analysts-cheer-potential-strategy-shift-this-move-opens-the-door"> surprising resignation of CEO Pat Gelsinger</a>.</li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) surged nearly 4% after the company projected over $50 billion in free cash flow over the next three years and committed to returning at least $40 billion to shareholders through dividends and stock buybacks.</li>
<li>FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) fell by 3.8%, following a <a href="https://www.benzinga.com/24/12/42294866/this-fedex-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-tuesday">series of analyst downgrades. </a></li>
<li>United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) plummeted by 8% in reaction to Chinese export restrictions.</li>
<li>Core &amp; Main Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) rallied 15% in reaction to stronger-than-expected quarterly earnings. </li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42297318/american-exceptionalism-trade-gains-steam-as-dollar-sp-500-surge-in-lockstep-bank-of-america">&#8216;American Exceptionalism Trade&#8217; Gains Steam As Dollar, S&amp;P 500 Surge In Lockstep: Bank Of America</a></li>
</ul>
Photo: Shutterstock

Asia

Emerging Markets

Global

$DOGE

$ETH

INTC

US Stocks Pause, South Korea ETFs Fall On Political Turmoil, Oil Prices Rise Above $70: What's Driving Markets Tuesday?

<figure class="wp-block-image size-large"><img decoding="async" src="https://thearorareport.com/wp-content/uploads/2024/12/2024-12-03_07h59_45.png" alt="" /></figure>
To gain an edge, this is what you need to know today.
<h4 class="wp-block-heading">Lack Of Sellers</h4>
Please click here for a chart of SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which represents the benchmark stock market index S&amp;P 500 (SPX).
Note the following:
<ul>
<li>The chart shows that after a very shallow pullback, the stock market has moved higher.&nbsp;&nbsp;</li>
<li>The chart shows that in this bullish environment, the breakout line acted as support.</li>
<li>The chart shows that the volume remains low during this rally.&nbsp; The interpretation in this case is that there are very few sellers. &nbsp;As a result, it does not take much for the market to go higher.&nbsp;&nbsp;</li>
<li>In The Arora Report analysis, here are the reasons for the lack of sellers:
<ul>
<li>Sellers want to wait until 2025 to book profits to defer paying taxes by one year.</li>
<li>Sentiment is extremely positive.</li>
<li>Complacency has set in among retail investors.&nbsp;&nbsp;</li>
<li>Professional traders and money managers are waiting for the year end chase by under performing money managers.&nbsp;</li>
</ul>
</li>
<li>RSI on the chart shows that the stock market is overbought.&nbsp;&nbsp;</li>
<li>China is responding to the latest U.S. sanctions on the export of certain semiconductors and semiconductor manufacturing equipment to China.&nbsp;&nbsp;</li>
<li>China has outright banned the export of gallium, germanium, and antimony to the U.S. &nbsp; China is also restricting export of graphite to the U.S.&nbsp; These materials are important in manufacturing certain semiconductors, night vision goggles, and certain parts of satellites.&nbsp; Among the beneficiaries of China's restrictions on exports to the U.S. is Mp Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>).&nbsp; The stock is up about 13% as of this writing in the premarket.&nbsp;&nbsp;</li>
<li>JOLTS jobs openings will be released at 10am ET and may be market moving.&nbsp;&nbsp;</li>
<li>Investors are looking for clues to the jobs report that will be released on Friday at 8:30am ET. &nbsp;In The Arora Report analysis, the jobs report will play a major role in determining what the Fed does next.&nbsp;&nbsp;</li>
</ul>
<h4 class="wp-block-heading">Magnificent Seven Money Flows</h4>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>).
In the early trade, money flows are neutral in Alphabet Inc Class C (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>).&nbsp;
In the early trade, money flows are negative in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
In the early trade, money flows are positive in SPDR S&amp;P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h4 class="wp-block-heading">Momo Crowd And Smart Money In Stocks</h4>
Investors can gain an edge by knowing money flows in SPY and QQQ.&nbsp; Investors can get a bigger edge by knowing when smart money is buying stocks, gold, and oil.&nbsp; The most popular ETF for gold is SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>).&nbsp; The most popular ETF for silver is iShares Silver Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLV#NYSE">SLV</a>).&nbsp; The most popular ETF for oil is United States Oil ETF (ASCA:USO).
<h4 class="wp-block-heading">Bitcoin</h4>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is range bound, trading under $95,000.
<h4 class="wp-block-heading">Protection Band And What To Do Now</h4>
It is important for investors to look ahead and not in the rearview mirror.&nbsp; The proprietary protection band from The Arora Report is very popular.&nbsp; The protection band puts all of the data, all of the indicators, all of the news, all of the crosscurrents, all of the models, and all of the analysis in an analytical framework that is easily actionable by investors.&nbsp;
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp; The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp; If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.&nbsp; A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h4 class="wp-block-heading">Traditional 60/40 Portfolio</h4>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter-benzinga" target="_blank" rel="noreferrer noopener nofollow">Generate Wealth Newsletter</a>.

Lack Of Sellers In The Stock Market, China Retaliates Against U.S.

U.S. stock futures were in negative territory during Tuesday&#8217;s premarket hours as the dollar slipped to 106.3 level.
The U.S. 10-year and two-year Treasury notes yielded 4.21% and 4.18%, respectively. Expectations of a further 25 basis point rate cut in December rose to 72.5%, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME Group&#8217;s FedWatch tool</a>.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.02%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.07%</td>
</tr>
<tr>
<td>Russel 2000</td>
<td>-0.11%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.01% to $603.60 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.09% to $514.84, according to <a href="https://www.benzinga.com/">Benzinga Pro</a> data.
Cues From The Last Session
The U.S. stock market closed higher on Monday, with the <a href="https://www.benzinga.com/24/12/42282669/sp-nasdaq-settle-at-record-highs-as-tesla-shares-surge-investor-sentiment-decreases-but-fear-greed-index-remains-in-greed-zone">S&amp;P 500 and Nasdaq Composite reaching new highs</a>.
Key Drivers:
<ul>
<li>Tesla Boost: Tesla shares surged 3.5% after Roth MKM upgraded the stock and raised its price target.</li>
<li>Super Micro Rebound: Super Micro Computer stock jumped 29% following a positive company announcement.</li>
<li>Economic Data: U.S. construction spending increased and the ISM manufacturing PMI rose, beating expectations.</li>
<li>Sector Performance: While most S&amp;P 500 sectors closed lower, communication services and consumer discretionary stocks outperformed. Utilities, real estate, and financials lagged.</li>
</ul>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.97%</td>
<td>19,404</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.24%</td>
<td>6,047.15</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.29%</td>
<td>44,782</td>
</tr>
<tr>
<td>Russel 2000</td>
<td>-0.02</td>
<td>2,434</td>
</tr>
</tbody>
</table>
</figure>
Also read: <a href="https://www.benzinga.com/markets/equities/24/12/42282948/ubs-forecasts-sp-500-to-hit-6600-in-2025-citing-support-from-over-easy-global-central-bank-policy">UBS Forecasts S&amp;P 500 To Hit 6,600 In 2025, Citing Support From &#8216;Over-Easy Global Central Bank Policy&#8217;</a>
Insights From Analysts: Chief investment officer at UBS Global Wealth Management, Mark Haefele termed the decade so far as the &#8220;Roaring 20s,&#8221; marked by high economic growth, strong market returns, and improving productivity.
In his ‘<a href="https://www.ubs.com/global/en/wealthmanagement/insights/chief-investment-office/roaring-20s-the-next-stage.html#review">UBS Year Ahead 2025 Report</a>‘ he said "After strong years for equities in 2023 and 2024, we see further upside in 2025. We expect the S&amp;P 500 to reach 6,600 by the end of 2025, around 10% higher than today&#8217;s levels."
"We expect central banks to cut interest rates further in the year ahead, reducing cash returns," Haefele added.
Highlighting his economic outlook he said, "In our base case, we expect sustained economic growth in the U.S., supported by healthy consumption, loose fiscal policy, and lower interest rates. Tariff threats are a headwind for Asia and Europe. If imposed, they could be partially offset by reactive stimulus measures in China."
Chief market strategist at Carson Group LLC, Ryan Detrick highlighted that &#8220;With a new high in December, we&#8217;ve seen new highs in 10 out of 12 months this year (April and August didn&#8217;t).&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today was the 54th all-time high in &#39;24 for the S&amp;P 500. Officially the 5th most ever (since 1957 when it moved to 500 stocks). 62 in 2017 is next up. With a new high in December, we&#39;ve seen new highs in 10 out of 12 months this year (April and August didn&#39;t). Not bad. <a href="https://t.co/FiEJ27kjVr">pic.twitter.com/FiEJ27kjVr</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1863771861034668045?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Unrelated to past cycles, global central banks are easing monetary policy despite strong economic growth, high asset prices, and elevated inflation, said Bob Elliott, the chief investment officer at Unlimited Funds. Elliott presented the underlying data reiterating these conditions in a thread on X, indicating a positive sign for the markets.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The global economy is getting a shot of adrenaline from a coordinated central bank easing. But unlike the past, it comes at a time when growth is pretty good, asset prices are near highs, and inflation remains elevated. Thread.
&mdash; Bob Elliott (@BobEUnlimited) <a href="https://twitter.com/BobEUnlimited/status/1863551595545334237?ref_src=twsrc%5Etfw">December 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data
This week&#8217;s economic calendar is packed after a short last week due to Thanksgiving.
<ul>
<li>On Tuesday, job openings data for October will be released at 10:00 a.m. ET and auto sales data will be released for which the time is yet to be determined.</li>
<li>On Wednesday, November&#8217;s data on ADP employment will be released at 8:15 a.m. ET.</li>
<li>St. Louis Fed President Musalem will speak at 8:45 a.m. ET.</li>
<li>The S&amp;P final U.S. services PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM services and factory orders data for November and October, respectively, will be released at 10:00 a.m. ET.</li>
<li>Fed Beige Book will be released at 2:00 p.m. ET.</li>
<li>On Thursday, initial jobless claims data for November and U.S. trade deficit data for October will be released at 8:30 a.m. ET.</li>
<li>On Friday, the U.S. employment report, U.S. unemployment rate, and U.S. hourly wages data will be released at 8:30 a.m. ET.</li>
<li>The preliminary data for consumer sentiment will be released at 10 a.m. ET.</li>
<li>Chicago Fed President Goolsbee will speak at 10:30 a.m., ET.</li>
<li>Consumer credit data will be released at 3:00 p.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Shimmick Construction (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) was 57.5% higher at $4.43 apiece in premarket after it landed a $45.4 million contract to build the Murray Street Bridge in Santa Cruz.</li>
<li>Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)<a href="https://www.benzinga.com/24/12/42284776/super-micro-shares-rise-over-7-in-premarket-after-independent-special-committee-found-no-evidence-of-misconduct-but-top-investment-bank-flags-two-key-points-to-watch"> was 6.67% up</a> at $44.8 per share after it announced that the independent Special Committee formed by the company&#8217;s board completed its review.</li>
<li>Santi Biosciences Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNTI#NASDAQ">SNTI</a>) shares were 4.50% down at $9.55 apiece after it secured a $37.6 million private placement financing through the sale of 16,713 shares of Series A Convertible Preferred Stock.</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares were down 1.3% to $352.44 apiece after Elon Musk&#8217;s pay package was rejected again by a Delaware judge despite being approved by Tesla shareholders at a June meeting.</li>
<li>Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) was up 0.17% at $23.97 per share after the retirement announcement of its chief executive officer, Pat Gelsinger.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, advancing 0.91% to hover around $68.72.
The Dollar Index was down 0.12% to 106.3 level. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was down 0.16% over the past 24 hours and traded just over the $95K mark.
Major Asian markets closed higher on Tuesday. European markets were also upbeat. 
<ul>
<li>Read next: <a href="https://www.benzinga.com/24/12/42283257/charles-schwab-goldman-sachs-invesco-add-mara-holdings-morgan-stanley-cuts-stake-here-is-what-changed-with-mara-holdings-in-q3">Charles Schwab, Goldman Sachs Boosts MARA Stake As Stock Rallies 30% In Past 6 Months: Morgan Stanley, Other Major Funds Trim Positions In Q3</a></li>
</ul>
Image via Shutterstock

SHIM

SMCI

SNTI

US Stock Futures Dip As Dollar Slides And Treasuries Rise After S&P Hits 54th All-Time High This Year: Analyst Sees 'Further Upside' Of Around 10% In 2025 From Current Levels

Shares of ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) edged higher by 3.3% to $709.10 Monday afternoon as the U.S. government announced stringent new export controls targeting <a href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides">China's semiconductor sector</a>. 
The measures, which restrict advanced chipmaking tools, memory technologies, and AI-related software, could reshape global supply chains, further solidifying ASML's dominant position in advanced lithography systems.
What To Know: ASML, based in the Netherlands, is the world's only supplier of extreme ultraviolet (EUV) lithography machines— equipment essential for manufacturing semiconductors used in applications such as artificial intelligence, high-performance computing and 5G technologies.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273230/stellantis-market-value-halves-in-2024-why-ceo-tavares-exit-could-take-things-from-bad-to-worse">Stellantis Market Value Halves In 2024: Why CEO Tavares&#8217; Exit Could Take Things From Bad To Worse</a>
While the sanctions block shipments to 140 Chinese entities, including semiconductor toolmakers and chip manufacturers, ASML remains largely insulated due to its geographical and operational alignment with allied nations like the U.S., Japan and the Netherlands, which agreed to comply with the restrictions.
The export controls, however, could amplify demand from non-Chinese chipmakers such as Taiwan Semiconductor Manufacturing Co., Samsung and Intel, all of which rely on ASML's EUV systems to maintain their technological edge.
The restrictions also expand foreign direct product rules, potentially increasing ASML's relevance in supplying markets shifting away from reliance on China.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42273932/tech-stocks-rise-apple-tops-record-highs-dollar-surges-bitcoin-falls-to-95000-whats-driving-markets-monday">Tech Stocks Rise, Apple Tops Record Highs, Dollar Surges, Bitcoin Falls To $95,000: What&#8217;s Driving Markets Monday?</a>
Investors can gain exposure to&nbsp;ASML by&nbsp;investing&nbsp;in the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>).
<h2 class="wp-block-heading">How To Buy ASML Stock</h2>
By now you're likely curious about how to participate in the market for ASML Holding &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, ASML has a 52-week high of $1,110.09 and a 52-week low of $645.45.

Why ASML Holding Stock Is Seeing Blue Skies

Wall Street started the week and the final month of the year on a mixed note, as a tech-driven rally clashed with broader market weakness. Mega-cap tech stocks and semiconductors led gains, driving the Nasdaq 100 to retest its all-time high of 21,180 points, last reached <a href="https://www.benzinga.com/topic/tech-stocks">on Nov. 11, 2024.</a>
Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) climbed 1% on Monday, extending its rally to fresh all-time highs as investors bet on strong holiday-season sales for the Cupertino-based tech giant.
However, outside of growth sectors, the market showed weakness. All sectors except tech, communication services and consumer discretionary fell Monday, signaling uneven market performance.
The ISM Manufacturing PMI beat expectations but remained in contraction territory for the eighth consecutive month, reflecting a<a href="https://www.benzinga.com/24/12/42270045/us-manufacturing-output-tops-forecasts-in-november-is-the-sectors-crisis-over"> still-challenging industrial sentiment.</a>
The U.S. dollar surged 0.8%, driven by a weakening euro amid rising fiscal and political risks in France. Meanwhile, gold prices slipped 0.6% to close the day at $2,635 per ounce, and crude oil held steady near $68 per barrel.
In the crypto space, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 2.1% to trade around $95,000, retreating from its recent highs as traders locked in profits.
<h1 class="wp-block-heading">Monday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,164.54</td>
<td>1.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>6,045.89</td>
<td>0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,428.76</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,773.43</td>
<td>-0.4%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:11 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120224&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.2% to $603.55.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.4% to $448.52.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.1% to $515.49.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) eased 0.2% to $241.45.</li>
<li>The&nbsp;Technology Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, rising 1.1%; the&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 1.8%.</li>
</ul>
<h1 class="wp-block-heading">Monday&#8217;s Stock Movers</h1>
<ul>
<li>Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) tumbled by nearly 7% in reaction<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273230/stellantis-market-value-halves-in-2024-why-ceo-tavares-exit-could-take-things-from-bad-to-worse"> to the resignation of its former CEO Carlos Tavares</a>. </li>
<li>Intel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NYSE">INTC</a>) climbed 3% after CEO Pat Gelsinger was ousted less than four years into <a href="https://www.benzinga.com/24/12/42267115/intel-stock-is-moving-higher-monday-whats-going-on">his tenure at the helm of the company.</a></li>
<li>Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) jumped 7% on Monday, fueled by strong retail momentum during Black Friday 2024. The company&#8217;s branded TVs gained significant visibility at major retailers like Best Buy, Target and Walmart.</li>
</ul>
Read Now:
<ul>
<li><a href="https://www.benzinga.com/24/12/42269611/dollar-enters-its-most-bearish-month-of-the-year-could-december-2024-be-any-different">Dollar Enters Its Most Bearish Month Of The Year: Could December 2024 Be Any Different?</a></li>
</ul>
Photo: Shutterstock

Management

ROKU

STLA

XLRE

Tech Stocks Rise, Apple Tops Record Highs, Dollar Surges, Bitcoin Falls To $95,000: What's Driving Markets Monday?

The S&P and Nasdaq are higher. Strong black Friday sales may be driving economic sentiment, lifting retail stocks. Strength in chip stocks may be lifting the Nasdaq.

The U.S. manufacturing sector showed signs of improvement in November, yet it failed to avoid another <a href="https://www.benzinga.com/news/econ-s">month of contractionary conditions.</a>
The Manufacturing Purchasing Managers&#8217; Index (PMI) rose from October&#8217;s 46.5% to 48.4% in November, exceeding analyst expectations of 47.5%, as tracked by TradingEconomics.
<h3 class="wp-block-heading">November&#8217;s ISM Manufacturing PMI: Key Highlights</h3>
Despite the improvement, the PMI data released Monday by the Institute for Supply Management (ISM) remains below the 50% threshold, signaling contraction in the manufacturing sector for the eighth consecutive month.
The outcome marks the slowest contraction in the manufacturing sector since June.
The manufacturing sector has contracted in 24 of the last 25 months. In contrast, the broader U.S. economy, supported by services, has continued to expand for the 55th month in a row.
Key components of the PMI reflected varying degrees of improvement:
<ul>
<li>New Orders: Returned to expansion territory for the first time in eight months, rising from 47.1 in October to 50.4.</li>
<li>Production: Improved slightly from 46.2 to 46.8 but remained in contraction.</li>
<li>Employment: Contracted less sharply, with the index climbing from 44.4 to 48.1. </li>
<li>Inventories: Rose from 42.6 to 48.1.</li>
<li>Prices: Declined, with the Prices Index dropping from 54.8 to 50.3, indicating reduced price pressures.</li>
<li>Supplier Deliveries: Improved, as the index fell from 52 to 48.7, suggesting faster delivery times.</li>
</ul>
"U.S. manufacturing activity contracted again in November, but at a slower rate compared to last month. Demand continues to be weak but may be moderating," Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, said.
Fiore highlighted positive developments in demand, noting the rebound in the New Orders Index and a moderate rise in the New Export Orders Index, which increased by 3.2 percentage points but remained in contraction. Challenges persist, as the Backlog of Orders Index dipped further into &#8220;strong contraction territory.&#8221;
"Production execution eased in November, consistent with demand sluggishness and weak backlogs," Fiore added. On the supply side, he observed improvements in lead times but cautioned about the reappearance of some product shortages.
<h3 class="wp-block-heading">Market Reactions</h3>
The U.S. dollar index (DXY), tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), surged 1% on Monday. The dollar&#8217;s rally was supported not only by the upbeat PMI report but also by growing political uncertainty in Europe, where France&#8217;s government faces a potential no-confidence vote due to budgetary pressures.
U.S. equities were mixed in early trading. The S&amp;P 500 – tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)  edged up 0.1%, while the Dow Jones Industrial Average slipped 0.4%. Tech stocks outperformed, driving the Nasdaq 100 – tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) – up 1%.
In the bond market, U.S. Treasury yields rose modestly. The 10-year yield climbed by 5 basis points to 4.23%. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/12/42265847/biden-targets-china-with-new-chip-restrictions-nvidia-slides">Biden Targets China With New Chip Restrictions, Nvidia Slides</a></li>
</ul>
Photo via Shutterstock.

US Manufacturing Output Tops Forecasts In November: Is The Sector's Crisis Over?

Ark Invest&#8217;s Cathie Wood on Sunday expressed her <a href="https://www.benzinga.com/markets/equities/24/12/42259188/tech-stocks-set-for-strong-santa-rally-as-wall-street-looks-for-an-end-to-regulatory-spider-web-in-the-trump-era-says-dan-ives">positive outlook for the stock market</a> under President-elect Donald Trump&#8216;s administration.
What Happened: During a recent appearance on <a href="https://transcripts.cnn.com/show/ip/date/2024-12-01/segment/01">CNN&#8217;s</a> Inside Politics Sunday, Wood was asked about her projections for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41798981/jim-cramer-calls-trumps-return-to-white-house-a-huge-win-for-the-stock-market">the stock market under the Trump administration</a>, particularly in relation to major investments such as&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;Bitcoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Wood shared her belief that the market is already starting to anticipate a shift. &#8220;I think that the stock market already is starting to discount a change. If you look at what happened in the last four years, we saw massive concentration towards very few stocks,&#8221; she said.
&#8220;I think the market&#8217;s going to broaden out right now. And reward companies who are at the leading edge of innovation, not those &#8212; just those who have already been very successful.&#8221; This shift, she believes, will benefit small and medium businesses.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away</a>
Wood also emphasized the underestimated impact on low- and middle-income earners, suggesting that this will contribute to a more diverse distribution of the stock market&#8217;s gains. While maintaining a positive outlook, Wood cautioned that the market&#8217;s growth will not be linear.
&#8220;Of course, nothing goes up in a straight line. I don&#8217;t want to pretend that but we&#8217;re quite positive about the outlook for the next few years,&#8221; Wood said.
Why It Matters: Wood&#8217;s predictions align with her previous statements about the potential impact of a Trump administration on the market.
In a recent investor webinar, she expressed optimism about the future direction of the market under Trump, suggesting that a second term for the former president <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42183404/cathie-wood-bets-on-thriving-ipo-market-under-trump-will-giveliquidity-events-that-they-have-not-enjoyed-during-the-last-four-years">could open up the IPO market</a> and provide liquidity events for venture funds.
Wood also highlighted the potential for regulatory <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42136536/ark-invests-cathie-wood-says-team-trump-would-give-regulatory-clarity-for-bitcoin-and-other-digital-assets-which-they-may-put-in-the-treasurys-strategic-reserve">clarity in the fintech sector,</a> particularly for Bitcoin, under the Trump administration. These insights suggest that Wood&#8217;s predictions for&nbsp;the stock market under Trump&nbsp;are based on a broader perspective of the potential changes in the market&#8217;s dynamics.
Meanwhile, Wood also shed light on the <a href="https://www.benzinga.com/24/12/42260398/how-a-potential-fallout-between-elon-musk-and-trump-could-impact-tesla-and-spacex-cathie-wood-weighs-in">potential repercussions of a possible fallout</a> between President-elect Trump and Musk on the billionaire-led companies, Tesla and SpaceX. She emphasized that both Trump and Musk possess strong personalities, a trait that has played a significant role in their respective successes.
Price Action: Despite a few dips, the equity markets have been trading higher than the pre-election levels after President-elect Trump's victory.
The Dow Jones gained 1.6% last week, recording a gain of 7.5% for November. The S&amp;P 500, reflected in the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), gained 1% last week, surging by 5.6% last month. The Dow and S&amp;P 500 <a href="https://www.benzinga.com/24/12/42260445/dow-sp-record-best-month-of-year-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">recorded their best months</a> of the year, according to data from <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42254813/shiba-inu-burn-skyrockets-7400-nearly-2b-tokens-destroyed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Burn Skyrockets 7,400%, Nearly 2B Tokens Destroyed</a></li>
</ul>
Image via Flickr

Ark Invest's Cathie Wood Says Stock Market Will 'Broaden Out' Under Trump, But Growth Won't Be Linear: 'Nothing Goes Up In A Straight Line'

U.S. stock futures slid and Dollar Index rose in the premarket trading on Monday. This week the global economy and markets will be dominated by data and remarks from central bankers.
The Dollar Index strengthened over 0.5% and was hovering around the 106.27 level. Expectations of a further 25 basis point rate cut in December fell to 61.7%, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.20%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.18%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.13%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.02%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.19% to $601.41 and the Invesco QQQ Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) fell 0.17% to $508.85, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Cues From The Last Session
U.S. stocks closed higher on Friday, with the Dow Jones Industrial Average and S&amp;P 500 <a href="https://www.benzinga.com/24/12/42260445/dow-sp-record-best-month-of-year-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">reaching new records</a> during the shortened trading week.
The tech-heavy Nasdaq Composite also gained ground, driven by a 2% surge in Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares. The broader semiconductor sector, as measured by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rose 1.3%.
For the week, the Dow climbed 1.4% and the S&amp;P 500 added 1.1%. These gains marked their strongest monthly performances of the year, with the Dow up 7.5% and the S&amp;P 500 up over 5% in November.
Most sectors on the S&amp;P 500 ended the day in positive territory, with tech, materials, and consumer discretionary stocks leading the way. However, real estate and utilities lagged.
Here&#8217;s a recap of Friday&#8217;s closing numbers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>0.83%</td>
<td> 19,218.17</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.56%</td>
<td>6,032.38</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.42%</td>
<td>44,910.65</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.35%</td>
<td>2,434.73</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/24/12/42260445/dow-sp-record-best-month-of-year-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">Dow, S&amp;P Record Best Month Of Year: Investor Sentiment Improves, Fear Index Remains In &#8216;Greed&#8217; Zone</a>
Insights From Analysts:
Dan Ives, managing director at Wedbush Securities predicted a strong year-end rally for technology companies as artificial intelligence initiatives accelerate and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42224850/2025-stock-playbook-tap-into-ais-1-trillion-potential-us-growth-opportunities">regulatory pressures ease</a> under President-elect Donald Trump.
He said that Trump&#8217;s term could potentially end Federal Trade Commission Chair Lina Khan‘s aggressive oversight of Big Tech companies. The forecast comes amid projections of unprecedented AI-related spending reaching $1 trillion by the end of 2025. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We expect tech stocks to be strong with a Santa rally as the Street further digests a less regulatory spider web under Trump with Khan/FTC days in the rearview mirror, stronger AI initiatives on the way, and a goldilocks foundation for Big Tech and Tesla into 2025 &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f384;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1863293238116790653?ref_src=twsrc%5Etfw">December 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Veteran investor Mark Mobius said that <a href="https://www.benzinga.com/24/11/42253444/mark-mobius-advocates-for-big-tech-investments-in-emerging-markets-thats-where-the-growth-will-be">he isn&#8217;t worried about a tech bubble</a>, even with high valuations for giants like Alphabet, Amazon, and Nvidia. He sees their impressive growth rates as justification for the price tags and expects continued success from the &#8216;magnificent seven&#8217; stocks. 
Renowned economist Mohamed El-Erian highlighted the impressive performance of cryptocurrencies and equities in November, contrasting it with losses in the gold and oil markets.
The Allianz Chief Economic Advisor shared a visual on X, showcasing the year-to-date performance of major asset classes. A standout performer was Bitcoin, the world&#8217;s largest cryptocurrency, which experienced its strongest month of the year in November.
Bitcoin&#8217;s year-to-date gains surged past 127% by the end of November, a significant acceleration from the 64% recorded in October. This remarkable surge has already surpassed Bitcoin&#8217;s annual gains for both 2021 and 2022.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The usual end-of-month table for YTD performance for major assets/asset classes, along with one highlighting November&#39;s developments. It was the strongest month of the year for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and the S&amp;P while, at the other end, <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> and <a href="https://twitter.com/hashtag/oil?src=hash&amp;ref_src=twsrc%5Etfw">#oil</a> registered monthly losses.<a href="https://twitter.com/hashtag/markets?src=hash&amp;ref_src=twsrc%5Etfw">#markets</a>… <a href="https://t.co/8C5EQkwvLO">pic.twitter.com/8C5EQkwvLO</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1862852749009838127?ref_src=twsrc%5Etfw">November 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Erian further highlighted the hoards of economic data that are slated to be released his week.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This week in the global economy and markets is dominated by data and remarks from central bankers including:   Wednesday's JOLTS and Friday's jobs report for the US, where the consensus forecasts are for monthly job creation of 200,000 and an unemployment rate of 4.1%;…
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1863317481873371616?ref_src=twsrc%5Etfw">December 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data
This week&#8217;s economic calendar is packed after a short last week due to Thanksgiving.
<ul>
<li>On Monday, the S&amp;P final U.S. manufacturing PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM manufacturing data for November and construction spending data for October will be released at 10:00 a.m. ET.</li>
<li>On Tuesday, job openings data for October will be released at 10:00 a.m. ET and auto sales data will be released for which the time is yet to be determined.</li>
<li>On Wednesday, November&#8217;s data on ADP employment will be released at 8:15 a.m. ET.</li>
<li>St. Louis Fed President Musalem will speak at 8:45 a.m. ET.</li>
<li>The S&amp;P final U.S. services PMI for November will be released at 9:45 a.m. ET.</li>
<li>The ISM services and factory orders data for November and October, respectively, will be released at 10:00 a.m. ET.</li>
<li>Fed Beige Book will be released at 2:00 p.m. ET.</li>
<li>On Thursday, initial jobless claims data for November and U.S. trade deficit data for October will be released at 8:30 a.m. ET.</li>
<li>On Friday, the U.S. employment report, U.S. unemployment rate, and U.S. hourly wages data will be released at 8:30 a.m. ET.</li>
<li>The preliminary data for consumer sentiment will be released at 10 a.m. ET.</li>
<li>Chicago Fed President Goolsbee will speak at 10:30 a.m., ET.</li>
<li>Consumer credit data will be released at 3:00 p.m. ET.</li>
</ul>
Also read: <a href="https://www.benzinga.com/24/12/42260627/south-korea-gets-its-first-unicorn-of-2024-as-china-based-alibaba-invests-714m-in-ably-corp">Alibaba&#8217;s $71M Bet On Ably Corp Turns It Into South Korea&#8217;s First Unicorn of 2024</a>
Stocks In Focus:
<ul>
<li>Vision Marine Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMAR#NASDAQ">VMAR</a>) was up by 39% to $3.05 per share in premarket trading after it partnered with Massimo Marine to produce a 30-foot electric pontoon platform designed for commercial and recreational markets.</li>
<li>Unusual Machines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#NYSE">UMAC</a>) was up 16% to $21.75 apiece as it continued to ride on the news flow about Donald Trump Jr. joining the advisory board to support U.S. drone manufacturing and reduce reliance on foreign parts.</li>
<li>Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) was up 5.5% to $9.45 per share after Intech Investment Management LLC acquired 102,916 shares of the company&#8217;s stock, valued at approximately $518,000, as per an SEC filing.</li>
<li>Primega Group Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGHL#NASDAQ">PGHL</a>) fell 5.8% to $2.24 per share despite clearing the payment required under Nasdaq Listing Rule 5900 Series.</li>
<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) was up 5.2% to $10.07 apiece as it has signed an agreement with Soracle, a joint venture of Japan Airlines and global general trading company Sumitomo, to sell up to 100 Midnight aircraft, totaling approximately $500 million.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, advancing 0.91% to hover around $68.677.
The 10-year Treasury note yielding 4.21%, whereas the two-year note was yielding 4.20%.
Major Asian markets closed higher on Monday, except for South Korea&#8217;s Kospi Index. European markets were mixed as both FTSE 100 and CAC 40 Indices declined.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/12/42260202/goldman-sachs-morgan-stanley-bank-of-montreal-cut-positions-in-marvell-technology-invesco-t-rowe-price-doubled-down">Goldman Sachs, Morgan Stanley, Bank Of Montreal Cut Positions In Marvell Technology — Invesco, T. Rowe Price Doubled Down</a></li>
</ul>
Photo courtesy: Wikimedia

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iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

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US Stocks To Edge Lower After Thanksgiving As Investors Await Data: Analyst Expects A Santa Rally Thanks To 'Goldilocks Foundation' For Big Tech And Tesla Going Into 2025

In a significant move, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) looks set to join the Nasdaq 100 index, prompting a major reconstitution of the index. This change, based on market cap rankings as of Nov. 29, will take effect after Dec. 20.
What Happened: According to&nbsp;a report <a href="https://seekingalpha.com/article/4740896-nasdaq-100-upcoming-index-reconstitution-could-be-a-major-event">by</a> Seeking Alpha, the inclusion of MicroStrategy, with its $94 billion market cap, will impact passive funds tracking the&nbsp;index, such as the Invesco&nbsp;QQQ Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NYSE">QQQ</a>) and&nbsp;the Invesco Nasdaq 100&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QQQM#NYSE">QQQM</a>).
These funds, along with&nbsp;the Global X Nasdaq 100&nbsp;Covered Call (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QYLD#NYSE">QYLD</a>), will need to adjust their holdings to include MicroStrategy by Dec. 20.
MicroStrategy&#8217;s entry into the NASDAQ 100 introduces Bitcoin exposure to passive investors, as the company holds&nbsp;nearly 2% of the Bitcoin&nbsp;supply. Known&nbsp;for issuing stock to purchase&nbsp;Bitcoin, MicroStrategy&#8217;s strategy could affect the index&#8217;s dynamics.
See Also: <a href="https://www.benzinga.com/24/11/42253242/microstrategys-michael-saylor-calls-bitcoin-the-manhattan-in-cyberspace-says-its-an-asset-you-could-expect-to-las">MicroStrategy's Michael Saylor Calls Bitcoin The ‘Manhattan In Cyberspace,' Says It's An Asset You Could Expect To ‘Last 1,000 Years'</a>
The reconstitution may result in increased turnover and potential tracking errors for ETFs, as they will need to rebalance their portfolios to accommodate MicroStrategy&#8217;s growing market cap. This unique situation could lead to strategic trading opportunities for investors.
Why It Matters: MicroStrategy&#8217;s potential inclusion in the NASDAQ 100 is a testament to its growing influence in the financial markets, particularly due to its aggressive Bitcoin strategy.
Recently,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">Bernstein</a>&nbsp;described MicroStrategy as a &#8220;Bitcoin magnet,&#8221; projecting it could hold 4% of the global Bitcoin supply by 2033. However, this strategy is not without risks, as some analysts caution about its long-term viability.
Additionally,&nbsp;Michael Saylor, co-founder of MicroStrategy, recently revealed that the company is generating substantial profits from its Bitcoin holdings, reportedly <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">making $500 million a day</a> as Bitcoin nears $100,000.
This has contributed to a surge in MicroStrategy&#8217;s stock, which has increased by 465% year-to-date, significantly impacting ETFs linked to its performance, as noted in a&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42208970/microstrategy-linked-etfs-skyrocket-400-this-year-is-this-the-michael-saylor-effect">recent report</a>.
MicroStrategy&#8217;s recent $3 billion offering of 0% convertible senior notes, completed swiftly, underscores <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">investor confidence in its strategy</a>. These notes offer no interest but allow participation in the equity upside, reflecting the market&#8217;s appetite for exposure to MicroStrategy&#8217;s Bitcoin-driven growth.
Price Action: Bitcoin was hovering at $96,776 at the time of writing, up by 0.46% in the last 24 hours, according to Benzinga Pro data.
MicroStrategy&#8217;s stock closed at $387.47 on Friday, falling slightly by 0.35%. Year-to-date, the stock has gained 465%.
The MicroStrategy stock has a consensus rating of &#8220;Buy,&#8221; according to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. The highest price target is $690, while the consensus price target is $449.50, implying a 16% upside.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42237636/bitcoin-ethereum-dogecoin-simmer-down-on-thanksgiving-analyst-sees-significant-shift-from-btc-season-to-alt-season?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Simmer Down On Thanksgiving: Analyst Sees &#8216;Significant Shift&#8217; From BTC Season To Alt Season</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: MicroStrategy

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