Sat Nov 30 07:20:00 UTC 2024: **S&P 500 Soars to Best Month in a Year, Defying Trump Tariff Threats**
NEW YORK – Despite President-elect Trump’s announcement of new tariffs on Canada, Mexico, and China, the S&P 500 surged to its best monthly performance in a year, closing November up 5.7 percent. Friday’s 0.6 percent increase, pushing the index to a new high of 6,032.38, capped off a week with a 1.1 percent gain. The market initially dipped following the tariff announcement but quickly recovered.
The strong November performance builds on a pre-election surge fueled by anticipation of Trump’s proposed tax cuts and deregulation. With one month remaining in 2024, the S&P 500 is up 26.5 percent for the year and 32.6 percent over the past 12 months.
Other market highlights include a retreat in bond yields, with the 10-year Treasury note falling below 4.2 percent. Palantir led the S&P 500 with a gain exceeding 60 percent, while Celanese suffered the largest loss, down almost 42 percent, due to poor earnings and weak demand forecasts.
In Europe, the STOXX 600 index recorded its first monthly gain since May, driven by expectations of a European Central Bank interest rate cut. However, the French CAC 40 index fell 2.3 percent amid a domestic political and budget crisis, resulting in increased French bond yields.
First Piper 