November's Historic Stock Rally Shocks Wall Street Skeptics

The S&P 500 Index recorded its second-best November since 1980, surging 8.9% and fueling hopes for further gains. The rally was part of a broader market surge triggered by a plunge in bond yields and optimism that the Federal Reserve will pivot to easing. The Nasdaq 100 Index also had its strongest month since last year, driven by Big Tech. However, investors should be cautious of concentration risk and potential tech stock slumps at year-end. The Fed's upcoming rate decision and inflation figures will also be key factors to watch.