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Deep Dive: These 20 stocks soared in November with gains of 22% or more after Powell ignites rally

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The rally in U.S. stocks accelerated on the last day of November as Federal Reserve Chairman Jerome Powell signaled policy makers might slow the pace of interest-rate increases soon.

The S&P 500
SPX,
+3.09%

ended the day with a 3.1% gain, having risen 5.4% during November. The benchmark index is now down 14.4% for 2022. Below is a list of 20 stocks in the S&P 500 that were up at least 22% for the month.

The next decisive Fed meeting will take place Dec. 13-14, followed by a policy announcement on Dec. 14. When speaking at the Brookings Institution in Washington on Wednesday, Powell said: “The time for moderating the pace of rate increases may come as soon as the December meeting.

This means many investors will now expect a 0.5% increase for the federal funds rate from its current target range of 3.75% to 4%, following four straight increases of 0.75%.

Read: Treasury-bill market’s march toward 5% gets interrupted by Fed’s Powell

Powell’s comments followed an interview with Federal Reserve Bank of St. Louis President James Bullard on Tuesday. When asked how quickly the central bank might reach its “terminal rate” (the peak federal funds rate for this cycle), Bullard said “sooner is better.”

Best-performing S&P 500 stocks in November

Among the S&P 500, 95% of member companies ended with gains on Wednesday, while 84% ended with gains for November. For all of 2022, precisely two-thirds of the S&P 500 have recorded declines.

Here are the 20 best-performing stocks in the S&P 500 for the month:

Company

Ticker

November price change

Nov. 30 Price change

2022 price change

Abiomed Inc.

ABMD,
+0.12%

49.9%

0.1%

5.2%

Etsy Inc.

ETSY,
+8.38%

40.7%

8.4%

-39.7%

Wynn Resorts Ltd.

WYNN,
+4.20%

30.9%

4.2%

-1.6%

SolarEdge Technologies Inc.

SEDG,
+2.75%

29.9%

2.8%

6.5%

Advanced Micro Devices Inc.

AMD,
+5.78%

29.3%

5.8%

-46.1%

Microchip Technology Inc.

MCHP,
+6.70%

28.3%

6.7%

-9.0%

Bath & Body Works Inc.

BBWI,
+6.81%

27.3%

6.8%

-39.1%

Meta Platforms Inc. Class A

META,
+7.89%

26.8%

7.9%

-64.9%

Freeport-McMoRan Inc.

FCX,
+6.11%

25.6%

6.1%

-4.6%

Boeing Company

BA,
+2.03%

25.5%

2.0%

-11.1%

Nvidia Corp.

NVDA,
+8.24%

25.4%

8.2%

-42.5%

Invesco Ltd.

IVZ,
+1.43%

24.7%

1.4%

-17.0%

Best Buy Co. Inc.

BBY,
+1.35%

24.7%

1.4%

-16.0%

KLA Corp.

KLAC,
+5.03%

24.2%

5.0%

-8.6%

Applied Materials Inc.

AMAT,
+6.15%

24.1%

6.2%

-30.4%

Air Products and Chemicals Inc.

APD,
+2.64%

23.9%

2.6%

1.9%

DuPont de Nemours Inc.

DD,
+1.51%

23.3%

1.5%

-12.7%

Las Vegas Sands Corp.

LVS,
+4.88%

23.2%

4.9%

24.4%

Ross Stores Inc.

ROST,
+0.75%

23.0%

0.8%

3.0%

ON Semiconductor Corp.

ON,
+6.33%

22.4%

6.3%

10.7%

Source: FactSet

Click on the tickers for more about each company. Read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

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