Capital.com Research Team

The trading range in the stock market widened on 24 November, with the S&P 500 rising by around 1.5%.

It will be a holiday-shortened trading week, with the US market closed on Thursday, 27 November, and operating a half-day on Friday, 28 November.

It was a harsh day for risk assets, with markets opening higher only to give back all those gains, finishing sharply lower.

If you would put $10,000 into the S&P 500 back in 2000, that investment would have grown to over $75,000 today. However, if instead you would place that same $10,000 into gold, it would now be worth around $136,000.

Since mid-October, the S&P has fallen around 4%, while the Nasdaq has declined about 5%. There are many reasons for this, and various paths that have led us here over the past month.

It will be a busy week in the US with the return of economic data and NVIDIA’s earnings results.

Liquidity in the market has been tightening in recent months as the Federal Reserve’s reserve balances have fallen sharply.

The pullback remains a valuable structure for those looking to engage with existing trends at favourable levels of risk and potential reward. Yet, in live markets, these formations rarely appear in their simplest form. Recognising the difference between the ideal and the complex pullback can help traders refine their approach and manage trades more effectively.

The S&P 500 rose by roughly 20 basis points on 11 November; however, the move was much more subdued than that on 10 November.

Since reporting results, the AI names have been battered amid fears of out-of-control capital expenditure and the damage this is likely to inflict on free cash flow.