
Weekly Market Update November 29, 2023
All eyes have been on the November U.S. equity market rally which experienced its fourth consecutive week of gains last week. Key macroeconomic data reported in November has also been supportive of the broader risk-on environment, starting with corporate earnings. With the third quarter earnings season nearly complete for S&P 500 companies, the year-over-year earnings growth is projected to be a robust 4.3%, marking the first quarter of year-over-year earnings growth in a year. Gross domestic product (GDP), a broad measure of economic growth, was estimated at an impressive 4.9% in the third quarter, up from 2.1% the quarter earlier. (Source: The Wall Street Journal)