U.S. Stocks Rebound with Best Monthly Gains Since July 2022

Federal Reserve's aggressive rate hikes seen as having minimal impact on U.S. economy, with possibility of rate cuts beginning as early as 2024.

U.S. stocks have rebounded from a months-long rut, with the S&P 500 and Nasdaq Composite both notching their best one-month gains since July 2022 in November.
Analysts suggest that the Federal Reserve's aggressive interest rate hikes have done little damage to the U.S. economy, sparking a rally that has boosted the S&P 500 19.6% year-to-date.
Treasury yields have been falling, with the yield on the 10-year Treasury note dropping from 5% in late October to 4.35%, the largest monthly drop since 2011.
Analysts predict that the Fed is likely to hold rates steady at their December meeting, with the possibility of rate cuts beginning as early as 2024.
Despite the market's hefty year-to-date rise, investment portfolios are likely to have plenty of underperforming stocks, with nearly 72% of the S&P 500's gain driven by a cluster of megacap stocks such as Apple, Tesla and Nvidia.