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The S&P 500 moved 8.9% higher in November, achieving one of its best monthly performances in history.
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The rally in the year's final stretch could be at risk if the Federal Reserve crushes expectations for rate cuts in 2024.
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Recent share price surge is helping the country contest seventh place in global rankings
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Oil futures finished higher Friday after a six-session streak of declines, but marked a seventh weekly loss in a row. Oil's overall loss highlights how "unimpressed traders were with the OPEC production cut deal, said Craig Erlam, senior market analyst at OANDA. "It also suggests they aren't particularly optimistic about the global economy next year." January West Texas Intermediate crude CLF24 fell $1.89, or 2.7%, to settle at $71.23 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract lost 3.8% for the week, according to Dow Jones Market Data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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U.S. stocks closed higher Friday, with the Dow Jones Industrial Average scoring its longest weekly winning streak since February 2019, as investors digested the latest job report.
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Chewy Inc.'s stock CHWY declined 8% in after-hours trading Wednesday after the online pet-supplies retailer posted quarterly results that topped analyst revenue and earnings estimates. Chewy reported a fiscal third-quarter net loss of $35.8 million. Adjusted earnings were 15 cents a share. Net sales climbed 8% to $2.74 billion from the same quarter a year earlier. Analysts surveyed by FactSet had expected on average a net loss of 6 cents a share on revenue of $2.75 billion. Shares of Chewy have plunged 48% this year, while the broader S&P 500 index SPX has increased 18%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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