As of November 24, 2024, the U.S. stock market is experiencing new equity highs for the year, with the S&P 500 trading just below its all-time highs. The Federal Reserve's latest Financial Stability Report indicates that equity valuations are historically elevated. However, market liquidity remains poor, which could result in significant market movements. This information comes amid a broader weekly market update that includes analysis of major indices such as the S&P 500 (SPY), Nasdaq 100 (QQQ), and Russell 2000 (IWM), as well as Bitcoin (BTC).