**Daily US Stock Market Update - November 13, 2024**

## Major Index Performance
- **S&P 500**: Virtually flat in morning trading, coming off its first loss since before Election Day last week[2].
- **Dow Jones Industrial Average**: Up 66 points, or 0.1%, as of 10 a.m. Eastern time[2].
- **NASDAQ Composite**: 0.2% lower[2].

## Key Factors Driving Today's Market Direction
- The latest inflation update showed that U.S. consumer inflation accelerated to 2.6% from 2.4%, but core inflation did not accelerate, which is seen as a better predictor of future trends. This has boosted hopes for another interest rate cut in December[2].
- Easing yields in the bond market, with the 10-year Treasury yield falling to 4.39% from 4.43% late Tuesday[2].
- Profit booking after a week-long rally fueled by election optimism[1][4].

## Notable Sector Performance
- **Top Gainers**: No specific sectors highlighted as major gainers, but individual stocks like Spotify (SPOT) surged 6.9% on better-than-expected subscriber growth, and Cava Group (CAVA) gained 14% after surpassing Q3 analysts’ estimates[4].
- **Top Decliners**: Skyworks Solutions (SWKS) declined 3.3% after issuing a disappointing forecast for the fiscal first quarter[4].

## Market Highlights
- **Most Actively Traded Stocks**: Not specified in the sources, but notable mentions include Spotify (SPOT) and Cava Group (CAVA) due to their significant percentage movements[4].
- **Biggest Percentage Gainers and Losers**:
- Gainers: Spotify (SPOT) up 6.9%, Cava Group (CAVA) up 14%[4].
- Losers: Skyworks Solutions (SWKS) down 3.3%[4].
- **Significant Market-Moving News Events**:
- Release of the October Consumer Price Index (CPI) report, which showed inflation in line with expectations[2][4].
- Anticipation of potential interest rate cuts by the Federal Reserve in December[2].

## Important Economic Data Releases and Their Impact
- **CPI Report**: Inflation accelerated to 2.6% from 2.4%, but core inflation remained stable, supporting the possibility of future interest rate cuts[2][4].
- **Upcoming Data**: Producer Price Index (PPI) and retail sales data scheduled for release later in the week will provide additional insights into the U.S. economy[4].

## Technical Analysis
- **Current Market Trend**: The market is drifting near record highs, indicating a neutral to slightly bullish trend given the stable inflation data and hopes for interest rate cuts[2].
- **Key Support and Resistance Levels**: Not specified in the sources.
- **Trading Volume Analysis**: No detailed analysis provided, but the market saw a pullback after a week-long rally, suggesting some profit booking[1][4].
- **VIX Movement and Implications**: Not specified in the sources.

## Forward-Looking Elements
- **Pre-market Futures Indication**: Futures on the Nasdaq 100, Dow Jones Industrial Average, and S&P 500 were down 0.28%, 0.32%, and 0.24%, respectively, ahead of the CPI report release[4].
- **Key Events to Watch for Tomorrow**:
- Earnings reports from UBS Group (UBS), Cisco (CSCO), Canoo (GOEV), CyberArk Software (CYBR), and Nuvei (NVEI)[4].
- **Important Upcoming Earnings Releases**: Same as above.
- **Potential Market Catalysts**:
- Future interest rate decisions by the Federal Reserve based on upcoming economic data releases[2][4].
- Release of Producer Price Index (PPI) and retail sales data later in the week[4].