The Dow Jones Industrial Average and the S&P 500 reached new record highs on November 30, 2024, closing the week with increases of 1.4% and 1.1%, respectively. This performance highlighted a strong month for equities, spurred by optimism surrounding potential tax cuts and a post-election rally following President-elect Donald Trump’s victory.
The semiconductor sector saw notable gains as reports indicated the U.S. might ease export restrictions on China, affecting fewer companies than initially planned. Additionally, retail sales surged, with the National Retail Federation reporting that 183.4 million Americans are expected to shop over the Thanksgiving weekend, surpassing last year’s record of 182 million.
Key ETFs reflected this market momentum: the Defiance Next Gen H2 ETF (HDRO) rose 9.2%, the ARK Genomic Revolution ETF (ARKG) increased by 9%, and the SPDR S&P Retail ETF (XRT) gained 6.8%. Overall, the market’s responsiveness to evolving policies and seasonal shopping trends showcased sharp interest from investors.
