The Tech Growth Engine Continues & November Showed Impressive Numbers
The Money Wise guys are back – with LOTS of numbers, propelled by the tech growth engine and more. Here’s where the markets ended up last week: The Dow was up 2.4%, the S&P 500 was up 0.8%, and the NASDAQ was up 0.4%. YTD the Dow is up 9.3%, the S&P is up 19.7%, and the NASDAQ is up a whopping 36.7%. November was a strong month, with the Dow up 8.8%, the S&P 500 up 8.9%, and the NASDAQ up 10.7%. On this strong performance, we are now less than 2% away from an all-time high on the Dow, less than 5% away from an all-time high for the S&P, and less than 12% away from an all-time high for the NASDAQ. The Money Wise guys admit they never saw this coming – especially on the backs of 11 interest rate increases since March of 2022. Is the Fed done now? Will we see a broad market rally in 2024, outside of the Magnificent 7 tech growth engine? The Money Wise guys discuss all this and more, plus give a reminder about why it’s a failed strategy to be either all-in or all-out of the markets.
The Tech Growth Engine is Still Chugging Along
When the Money Wise guys mention the tech growth engine, they are referring to the Magnificent 7 tech stocks that have propelled market momentum all year long. This tech growth engine includes Meta Platforms, Apple, Amazon, Google, Microsoft, Nvidia, and Tesla. You can learn more about the Magnificent 7 here and more about the performance of this tech growth engine here.
In the second hour, the Money Wise guys discuss Five Things Every Portfolio Should Have. You don’t want to miss the details! Tune in for the full discussion on your favorite podcast provider or at davidsoncap.com, where you can also learn more about the Money Wise guys or take advantage of a portfolio review and analysis with Davidson Capital Management.
