## Major Index Performance - **Dow Jones Industrial Average (DJI):** Surged 1.1% or 461.88 points to close at 43,870.35. At intraday high, the index was up more than 600 points[1][2]. - **S&P 500:** Advanced 0.5% to finish at 5,948.17. 10 out of 11 broad sectors ended in positive territory, with one in the negative zone[1]. - **NASDAQ Composite:** Finished at 18,972.42, gaining 6.28 points. The index had a mixed performance by technology behemoths, with an intraday high of nearly 115 points and an intraday low of more than 252 points down[1]. ## Key Factors Driving Today's Market Direction - Market participants shifted from overvalued technology sectors to cyclical sectors to benefit from a strong U.S. economy. - Solid third-quarter 2024 earnings results contributed to the positive market sentiment[1]. ## Notable Sector Performance - **Top Gainers:** - Financials Select Sector SPDR (XLF): Up 1.3% - Industrials Select Sector SPDR (XLI): Up 1.3% - Materials Select Sector SPDR (XLB): Up 1.2% - Utilities Select Sector SPDR (XLU): Up 1.7% - Consumer Staples Select Sector SPDR (XLP): Up 1.1%[1]. - **Decliners:** - Only one sector out of the 11 broad sectors of the S&P 500 ended in negative territory, though specific details on the declining sector are not provided[1]. ## Market Highlights - **Most Actively Traded Stocks:** Not specified in the sources. - **Biggest Percentage Gainers and Losers:** Not detailed in the sources. - **Significant Market-Moving News Events:** - Strong Q3 2024 earnings results from companies like Snowflake Inc. and Deere & Company. - Shift in investor focus from technology to cyclical sectors[1]. - **Important Economic Data Releases and Their Impact:** - Initial claims decreased by 6,000 to 213,000 for the week ended Nov 16, lower than the consensus estimate of 220,000. - Continuing claims increased 34,000 to 1.908 million for the week ended Nov 9. - The Philadelphia Manufacturing Business index came in at -5.5 in November, down from +10.3 in October. - The Conference Board reported that Leading Indicators for the U.S. economy fell 0.4% in October, in line with the consensus estimate[1]. ## Technical Analysis - **Current Market Trend:** Bullish indicators given the positive close of major indices. - **Key Support and Resistance Levels:** Not specified in the sources. - **Trading Volume Analysis:** A total of 15.32 billion shares were traded on Thursday, higher than the last 20-session average of 14.55 billion. Advancers outnumbered decliners on the NYSE by a 3.17-to-1 ratio and on Nasdaq by a 1.99-to-1 ratio[1]. - **VIX Movement and Implications:** The CBOE Volatility Index (VIX) was down 1.7% to 16.87, indicating reduced market volatility[1]. ## Forward-Looking Elements - **Pre-Market Futures Indication:** Not provided in the sources. - **Key Events to Watch for Tomorrow:** Not specified in the sources. - **Important Upcoming Earnings Releases:** Not detailed in the sources. - **Potential Market Catalysts:** Continued strong earnings results and economic data releases could influence market direction. The shift in investor focus between sectors may also continue to impact the market[1].