The Direxion Daily S&P 500 Bear 3X ETF (SPXS) experienced a decline of 1.84% at the close on November 26, 2024, with an additional 0.17% drop after market hours. The S&P 500's upward momentum continued, marking a seventh consecutive day of gains and nearing a fresh record high. This rally was fueled by investors' optimism despite geopolitical tensions and President-elect Trump's tariff plans. The S&P 500 rose 0.5% as investors shrugged off potential risks, focusing instead on the Federal Reserve's cautious approach to rate cuts and the prospect of an Israel cease-fire with Hezbollah. The market's resilience was further supported by strong performances in the technology sector, particularly Microsoft Corp., which benefited from its lower exposure to tariff risks.
The S&P 500's robust performance, up over 25% this year, reflects investor confidence in continued economic growth and earnings prospects. Deutsche Bank's Bankim Chadha forecasts the index reaching 7,000 points by the end of next year, while Bank of America's Savita Subramanian anticipates another year of double-digit gains in 2025. Goldman Sachs advises maintaining a focus on U.S. equities, despite the high concentration in big-tech stocks, due to solid economic and earnings expectations.