S&P 500, Dow Rally To Record Highs, Dollar Snaps 8-Week Streak, Bitcoin Soars Above $97,000: What’s Driving Markets Friday?

November 29, 2024

Risk-on sentiment gained momentum on Wall Street after the Thanksgiving holiday, fueled by investor optimism over fourth-quarter profit forecasts for U.S. corporations, lifting both the S&P 500 and Dow Jones to fresh record highs. The S&P 500 broke past the 6,040-point mark on Friday and closed at 6,032, extending its year-to-date gains to an impressive 27%. If the year ended on Friday, the broader U.S. stock market would have surged by a staggering 57% over the last two years, representing the