If this July's rate hike turns out to be the last of the Fed's current tightening cycle, and history is a guide, the S&P 500 could see double-digit gains over the next year.
This week, the three major U.S. stock indexes achieved four consecutive weekly gains, and are all expected to record their best monthly performance in more than a year.
Data shows that the MSCI Global Stock Index has risen by more than 8% so far in November, and is expected to record its best single-month performance after a 15% surge in November 2020.
U.S. shoppers spent a record $9.8 billion online, up 7.5% from last year. It's a positive message for retailers who had expected weak holiday sales at the end of the year.