## Major Index Performance
- **Dow Jones Industrial Average (DJI):** Surged 1.1% or 461.88 points to close at 43,870.35. At intraday high, the index was up more than 600 points[1][2].
- **S&P 500:** Advanced 0.5% to finish at 5,948.17. 10 out of 11 broad sectors ended in positive territory, with one in the negative zone[1].
- **NASDAQ Composite:** Finished at 18,972.42, gaining 6.28 points. The index had a mixed performance by technology behemoths, with an intraday high of nearly 115 points and an intraday low of more than 252 points down[1].

## Key Factors Driving Today's Market Direction
- Market participants shifted from overvalued technology sectors to cyclical sectors to benefit from a strong U.S. economy.
- Solid third-quarter 2024 earnings results contributed to the positive market sentiment[1].

## Notable Sector Performance
- **Top Gainers:**
- Financials Select Sector SPDR (XLF): Up 1.3%
- Industrials Select Sector SPDR (XLI): Up 1.3%
- Materials Select Sector SPDR (XLB): Up 1.2%
- Utilities Select Sector SPDR (XLU): Up 1.7%
- Consumer Staples Select Sector SPDR (XLP): Up 1.1%[1].
- **Decliners:**
- Only one sector out of the 11 broad sectors of the S&P 500 ended in negative territory, though specific details on the declining sector are not provided[1].

## Market Highlights
- **Most Actively Traded Stocks:** Not specified in the sources.
- **Biggest Percentage Gainers and Losers:** Not detailed in the sources.
- **Significant Market-Moving News Events:**
- Strong Q3 2024 earnings results from companies like Snowflake Inc. and Deere & Company.
- Shift in investor focus from technology to cyclical sectors[1].
- **Important Economic Data Releases and Their Impact:**
- Initial claims decreased by 6,000 to 213,000 for the week ended Nov 16, lower than the consensus estimate of 220,000.
- Continuing claims increased 34,000 to 1.908 million for the week ended Nov 9.
- The Philadelphia Manufacturing Business index came in at -5.5 in November, down from +10.3 in October.
- The Conference Board reported that Leading Indicators for the U.S. economy fell 0.4% in October, in line with the consensus estimate[1].

## Technical Analysis
- **Current Market Trend:** Bullish indicators given the positive close of major indices.
- **Key Support and Resistance Levels:** Not specified in the sources.
- **Trading Volume Analysis:** A total of 15.32 billion shares were traded on Thursday, higher than the last 20-session average of 14.55 billion. Advancers outnumbered decliners on the NYSE by a 3.17-to-1 ratio and on Nasdaq by a 1.99-to-1 ratio[1].
- **VIX Movement and Implications:** The CBOE Volatility Index (VIX) was down 1.7% to 16.87, indicating reduced market volatility[1].

## Forward-Looking Elements
- **Pre-Market Futures Indication:** Not provided in the sources.
- **Key Events to Watch for Tomorrow:** Not specified in the sources.
- **Important Upcoming Earnings Releases:** Not detailed in the sources.
- **Potential Market Catalysts:** Continued strong earnings results and economic data releases could influence market direction. The shift in investor focus between sectors may also continue to impact the market[1].