{"id":87520,"date":"2023-11-22T11:27:40","date_gmt":"2023-11-22T16:27:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/sp-500-set-for-best-month-of-2023-as-market-gives-thanks-to-strong-earnings-more-forgiving-fed\/"},"modified":"2023-11-22T11:27:42","modified_gmt":"2023-11-22T16:27:42","slug":"sp-500-set-for-best-month-of-2023-as-market-gives-thanks-to-strong-earnings-more-forgiving-fed","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=87520","title":{"rendered":"S&#038;P 500 Set For Best Month Of 2023 As Market Gives Thanks To Strong Earnings, More Forgiving Fed"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>Major stock indexes are on pace to post one of their best months of the last decade, with a strong batch of quarterly earnings and economic data helping to satiate investors.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>The S&amp;P 500 is up 9% in November, while the Dow Jones Industrial Average and the tech-heavy Nasdaq are up 6% and 11%, respectively, with each index gaining modestly Wednesday.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>That\u2019s the S&amp;P\u2019s biggest monthly gain since July 2022 and the index\u2019s fourth-best month of the last 10 years.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The banner returns came as corporations reported strong profit growth and evidence about potentially loosening financial conditions helped drive optimism about further equity expansion.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>More than 80% of S&amp;P companies\u2019 third-quarter earnings beat analyst expectations, the highest rate in two years, according to LSEG data.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>This month, the market also increasingly priced in the belief that the Federal Reserve is done hiking interest rates after core inflation and labor market growth both came in at more than two-year lows, a welcome development for bottom lines crushed by pricier debt financing.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<div class=\"key-facts-element\">\n<p>The still-battered bond market has also enjoyed some relief in November, as 10-year U.S. Treasury yields have fallen 50 basis points to below 4.4%, a two-month low.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Both the stock and bond markets will be closed Thursday for the Thanksgiving holiday and close early Friday. The fourth quarter historically brings the strongest returns for stocks, a phenomenon some merry observers chalk up to a \u201cSanta Claus rally.\u201d Cheer has been abundant all of 2023 for long investors, as the S&amp;P is up nearly 20%, wiping out much of last year\u2019s brutal losses. Driving much of the gains have been mega-cap tech stocks, such as Apple, Microsoft and Nvidia, each of which hit all-time high share prices this year.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Crucial Quote<\/h2>\n<p>Third quarter results \u201cknocked us out of the earnings recession\u201d but the \u201cresulting food coma\u201d could affect the market\u2019s expectations moving forward, Commonwealth Financial Network strategist Rob Swanke wrote Tuesday. The S&amp;P\u2019s higher-than-normal relative valuation \u201cmay be a case of the market\u2019s eyes being too big for its stomach, but for now, I\u2019m going to enjoy my pie,\u201d Swanke added.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>If stocks can ride recent momentum to new highs. Goldman Sachs, Morgan Stanley, UBS and Wells Fargo strategists all project the S&amp;P to rise modestly by the end of 2024, while Bank of America forecasts the index to sit at 5,000 next year, higher than the prior peak of 4,796.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/11\/22\/sp-500-set-for-best-month-of-2023-as-market-gives-thanks-to-strong-earnings-more-forgiving-fed\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline Major stock indexes are on pace to post one of their best months of the last decade, with a strong batch of quarterly earnings and economic data helping to satiate investors. Key Facts The S&amp;P 500 is up 9% in November, while the Dow Jones Industrial Average and the tech-heavy Nasdaq are up 6% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":87521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-87520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P 500 Set For Best Month Of 2023 As Market Gives Thanks To Strong Earnings, More Forgiving Fed | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Major stock indexes are on pace to post one of their best months of the last decade, with a strong batch of quarterly earnings and economic data\" \/>\n<meta name=\"robots\" content=\"index, follow, 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