The View from 5th Avenue

The View from 5th Avenue – 20 November 2023

US equity markets were lured higher today as we prepare for a shortened week served up via the Thanksgiving holiday on Thursday which will be followed by a tryptophan-induced half day on Friday. With a light macro lineup and average volumes, the market played follow-the-leader with Tech at the helm. The Nasdaq hit a new 22-mo high and both the ‘Magic 7’ and NYFANG+ hit new all-time highs as all constituents were in the plus on the day. Market breadth improved as the tech rally pulled the bro…

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