CNBC Daily Open: The stock market had a November to remember

Stocks' November reign 
Major U.S. indexes climbed connected Friday, a shortened time of trading, ending the week and the period higher. The S&P 500 and Dow Jones Industrial Average notched caller highs. Asia-Pacific markets rose connected Monday. China's CSI 300 added astir 0.7% aft information showed increasing mill enactment successful the country.

Factory enactment successful China grows successful November
China's factory enactment among smaller firms expanded successful November, according to the Caixin/S&P Global manufacturing purchasing managers' scale released Monday. Official PMI data, which measures ample and state-owned firms, besides showed manufacturing enactment maturation successful November. Those are some indications that China's system is recovering.

Adani indictment's aftershocks
The aftershocks of the Adani Group's indictment proceed reverberating. Shares of GQG Partners, a large capitalist of the group, slumped arsenic overmuch 15.74% connected Monday aft UBS downgraded GQG to "neutral" from "buy" connected Friday. GQG told CNBC that implicit 90% of lawsuit assets are invested successful issuers unrelated to Adani.

Musk sues OpenAI 
Attorneys representing Elon Musk filed for a preliminary injunction against OpenAI connected Friday. The injunction would block OpenAI from converting into a afloat for-profit concern and halt OpenAI from allegedly requiring its investors to refrain from backing competitors, including xAI — Musk's AI startup — and others. 

[PRO] Eyes connected November's jobs report 
This week's large portion of information is November's jobs report, retired Friday. It'll beryllium the U.S. Federal Reserve's past large look astatine the labour marketplace earlier its December meeting. If the numbers travel successful precocious — October's 12,000 jobs summation was seen arsenic an aberration due to the fact that of the effects of hurricanes — they could sway the Fed into cutting rates. 

November was a period to retrieve for stocks.  

The S&P 500 climbed 5.73%, the Dow Jones Industrial Average jumped 7.54% successful November, marking their champion monthly show this year. The Nasdaq Composite closed 6.21% higher for its astir affirmative period since May. 

Recently, a big of factors person pumped up investors' sentiment for stocks. 

The statesmanlike elections concluded with Donald Trump definitively securing the apical spot successful the White House. That erased immoderate uncertainty, which investors hate. Also, Trump favors the banal market, taxation cuts and deregulation, which investors love. 

The U.S. system grew astatine a 2.8% annualized rate for the 3rd quarter. Even though gross home merchandise is forecast to beryllium 1.31% successful the 4th quarter, according to the St. Louis Fed nowcast, that inactive denotes an enlargement — a stark opposition against nagging fears that a recession would onslaught the economy. 

Slowing maturation adjacent has a metallic lining. It gives the U.S. Federal Reserve much inducement to chopped rates a 2nd clip this twelvemonth astatine its December meeting, which would stimulate economical activity. 

Also, November's seasonal strength for stocks sent a people of bully feelings into investors. 

"As we caput into December, it's truly hard to slice this bull marketplace here, with each the things going right," said Ross Mayfield, concern strategist astatine Baird Private Wealth Management.  

Indeed, U.S. stocks are stocks "in the throes of a almighty yearend surge," according to Rich Ross, Evercore ISI's chartered marketplace technician. That's due to the fact that abbreviated sellers, who had stake against the market, are forced to bargain stocks to screen their positions arsenic the twelvemonth ends.  

The flurry of purchases, successful turn, could propulsion the S&P 500 up to 6,300, Ross added. That implies a 5% upside for December and a 32.1% surge for the full of 2024 — beating the 24.2% leap the S&P scored successful 2023. 

With luck, it'll beryllium 2024, not conscionable November, that investors volition with fondness recall. 

— CNBC's Alex Harring and Scott Schnipper contributed to this report.