PREVIOUS TRADING DAY EVENTS 10 Nov 2023

A sudden jump in the price of U.S. indices took place on Friday. All main indexes ended with big gains as they were boosted by heavyweight tech and growth stocks.

We have had rates roll over here a little bit and I think thats one of the reasons we have seen this rally over the last couple of weeks, said Chuck Carlson, Chief Executive Officer at Horizon Investment Services in Hammond, Indiana. If you think this rally has legs, yesterday gave you an opportunity to go buy some stocks today.

In general, the expectation investors have is that the upcoming inflation data is going to be positive for the market and I think they want to get in front of it a little bit, said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. People are looking at megacap tech and saying in an environment of higher rates and a slowing economy, these companies remain the best place to be and are willing to pay a premium for them, Meckler said.

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The reports from the University of Michigan showed that S. consumer sentiment fell for a fourth straight month in November and households expectations for inflation saw another increase.

The preliminary reading of its Consumer Sentiment Index dropped to 60.4, the lowest level since May, from Octobers final reading of 63.8.

While current and expected personal finances both improved modestly this…