The S&P 500 hit a new high for the year last week after the November jobs report and University of Michigan consumer survey data indicated a resilient economy and cooling inflation, triggering bets on a so-called soft-landing scenario. The unemployment rate in the United States declined to 3.7% in November 2023 from 3.9% in the previous month, marking the lowest level since July and firmly under market expectations that it would remain unchanged at 3.9%. This growth was driven by increasing legalization and public acceptance, marking a shift from a temporary surge to a stable, long-term market segment.