In November 2024, major stock indexes experienced significant gains, with the Dow, S&P 500, and Nasdaq rising between 5% and 7%, largely driven by a rally following President-elect Donald Trump's victory.

As of 19:04 ET, the S&P 500 rose 0.2% to 6,028.0 points, the Dow Jones Industrial Average increased 0.3% to 20,877.75 points, and the Nasdaq Composite climbed 0.2% to 44,931.0 points.

Despite signs of persistent inflation and a strong labor market, markets are anticipating a 25 basis point rate cut in December, which would bring the total cuts for 2024 to 100 basis points.

However, central bank officials have expressed caution regarding future rate cuts, indicating that a slower pace may be expected in 2025 due to persistent inflation that could lead to a higher terminal rate during the current easing cycle.

Market participants are particularly focused on comments from Federal Reserve officials, including Chair Jerome Powell, during the week of December 2, 2024, for insights into future interest rate policies.

Investors are betting on further interest rate cuts by the Federal Reserve in December 2024, despite uncertainties surrounding long-term inflation and the policies of President-elect Trump.

U.S. stock index futures saw an uptick on the evening of November 28, 2024, as Wall Street approached record highs, fueled by optimism surrounding a robust economy and expectations for lower interest rates.

The Federal Reserve's final meeting of the year is set for December 17 and 18, 2024, where further discussions on interest rates will take place.

Although technology stocks have recently faced pullbacks due to weak earnings and regulatory scrutiny, economically sensitive sectors have helped maintain stock benchmarks near record highs.

Notably, the ongoing conflict between Russia and Ukraine, along with accusations of ceasefire violations between Israel and Hezbollah, has not significantly swayed market sentiment.

As Wall Street prepared for a shortened trading day on November 29, 2024, the prevailing market mood remained optimistic.