Stocks To Watch – 12/23/2024

Brief Overview

Welcome back to this week’s Stocks to Watch! With the Holidays fast approaching the markets have been mimicking the chaos of retail shoppers on Black Friday. Whether slipping or ripping, we’re here for the action and ready to alert the best setups to our members. Lets take a look at how last week shook out.

The week started with a bang, as tech stocks boosted the Nasdaq and S&P 500. Bitcoin joined the party, soaring past $107,000. It’s clear investors are still loving their digital assets as the year wraps up.

Retail sales for November beat expectations, climbing 0.7%. People are clearly feeling good about their wallets heading into the holidays, giving retailers a nice end-of-year boost.

The Fed wrapped up its final meeting of the year with no surprises. Interest rates stayed put, with Fed Chair Jerome Powell focusing on keeping growth steady and inflation in check. No big changes, just a “keep calm and carry on” vibe.

The labor market flexed its muscles, with jobless claims falling to 220,000. Meanwhile, existing home sales hit 4.15 million in November, showing some solid momentum in housing as mortgage rates stabilize.

Personal income and spending both ticked up in November—up 0.3% and 0.4%, respectively. That’s great news for the economy. Plus, inflation stayed steady, giving the Fed more breathing room as we head into 2025.