Thanksgiving Market Extravaganza: S&P 500 and Nasdaq Surge Amidst Overbought Conditions, Global Stock Funds Inflow, Cash Dominance, and Record Highs for Bitcoin ETFs

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As Thanksgiving approaches, the financial markets reflect a robust performance, with the S&P 500 ETF ($SPY) marking an 8.8% increase for the month and a remarkable 20.3% gain for the year. The Nasdaq 100 ($QQQ) outshines, boasting an impressive 47.1% surge. Global stock funds experience a notable influx, attracting around $40 billion in the two weeks leading up to November 21, the highest since February 2022, according to BofA and EPFR Global data. Despite this, cash funds remain dominant in 2023, accumulating nearly $1.2 trillion compared to $143 billion invested in equities. Bitcoin ETFs also achieve a new high in flows, underscoring the diverse and dynamic landscape of the financial markets.



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