CNBC Daily Open: U.S. exceptionalism seems difficult to dislodge for now Published Fri, Dec 6 20242:30 AM EST Yeo Boon Ping WATCH LIVE In this article .HSI +305.41 (+1.56%) .NSEI -30.60 (-0.12%) .SPX -11.38 (-0.19%) .DJI -248.33 (-0.55%) .IXIC -34.39 (-0.17%) BTC.CM= -1,102.90 (-1.12%) Follow your favorite stocks CREATE FREE ACCOUNT

global market strategist at Wells Fargo , wrote in a Wednesday note. Taking the higher end of Wren’s estimate, that implies a 10% upside from Thursday’s close. If that scenario plays out for the S&P 500, it would mark the third consecutive year of gains for the broad-based index. The S&P has already shot up 27.6% year to date, its second-highest annual increase in the 21st century, according to Deutsche Bank . The strength of the U.S. stock market is more striking when compared with its European counterpart. “MAGA policy expectations, coupled with Goldilocks data, have revived animal spirits for US equities. In contrast, Europe remains on the back foot amid stagnant growth, tariff threats and political crisis in France,” Barclays wrote on Wednesday. “It is hard to see an end to US exceptionalism any time soon, which we think remains the playbook into 2025.” The U.S. economy, likewise, isn’t showing signs of flagging. The Atlanta Federal Reserve forecasts U.S. economic growth in the fourth quarter to hit 3.3% on an annualized basis. That’s a small uptick from its 3.2% estimate earlier this week, and higher than third-quarter growth of 2.8%. Employment is the engine that powers most aspects of the economy. November’s jobs report, out later today, will give investors more insight into whether U.S. economic and financial growth can continue racing forward. — CNBC’s Jesse Pound, Lisa Kailai Han and Sean Conlon contributed to this report.