Stocks Surge as Inflation Cools, Shopify Breaks Out, Banks Rise
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Investors became buyers as indexes posted strong gains, with retail, bank, tech stocks leading. Shopify cleared a buy point.
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Since a follow-through day on Nov. 1 signaled a new uptrend, Nasdaq 100 has lifted almost 8%, S&P 500 over 6%.
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Shopify broke out past a trendline entry, gained over 7% this week. Earnings up sharply the past 2 quarters.
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Small caps surged, with Russell 2000 up 4.8%. Rally came after lighter than expected October inflation data.
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Bank stocks thrived as inflation cooled. West and Southwest regional banks rose 6.4%. The Bancorp nearing a potential breakout.