Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
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In a landscape of contrasting market narratives, the stock market today witnessed a divergence in trajectories, with the S&P 500 and Nasdaq Composite extending their winning streak, while the Dow Jones Industrial Average experienced a modest retreat.
The Dow Jones Industrial Average persisted in its downward trajectory, recording its third consecutive day of losses, as rising bond yields and robust U.S. retail sales data fuelled speculations over the pace of future rate cuts by the Federal Reserve. The slide of approximately 94 points, a drop of 0.25%, was mirrored by declines in both the S&P 500 and the Nasdaq Composite, down 0.56% and 0.59% respectively.
The Dow Jones Industrial Average concluded the week with a slight decline, shedding over 100 points on Friday, despite achieving a marginal weekly gain. This movement came in the wake of a mixed bag of fourth-quarter earnings reports and a pair of significant inflation updates that kept traders on their toes.
The global stock markets displayed a notable equilibrium amid escalating inflationary pressures. The S&P 500, touching on historic highs, ultimately settled with a slight decline. In contrast, the Nasdaq Composite held its ground, closing unchanged, while the Dow Jones Industrial Average managed a modest gain, reflecting a broader sense of resilience in the face of economic uncertainties.
In a striking rebound from last week's downturn, Monday's stock market witnessed a notable revival led predominantly by a surge in tech stocks. The Nasdaq Composite spearheaded this upswing, recording a 2.2% rise – its most impressive performance since mid-November.
As the curtains rise on 2024, Wall Street deals with a turbulent start, straying from its triumphant rally in the previous year. The S&P 500 and Nasdaq Composite, previous bearers of market optimism, surrendered to a cautious retraction, with the former shedding 0.9% and the latter marking its most pronounced decline since October.
Wall Street witnessed a remarkable rebound on Thursday, erasing much of the previous session's losses in a dynamic upswing driven by the semiconductor sector. Leading the charge was Micron Technology, whose upbeat revenue forecast injected a wave of optimism across the tech landscape.
In a session reflective of the varying dynamics of today's economy, Wall Street on Friday showcased a mixed performance with the Dow Jones Industrial Average and Nasdaq Composite climbing higher, while the S&P 500 slightly recoiled.
In a remarkable display of market resilience, Wall Street surged forward with the Dow Jones Industrial Average leading the charge, lifted by a combination of favourable economic data and shifting interest rate expectations.
In an extraordinary turn of events that underscored the resilience of the U.S. economy, the S&P 500 leaped to a new peak for 2023, courtesy of robust economic data and a tempered outlook on inflation.
On Tuesday, Wall Street showcased a complex interplay of economic data and investor sentiment, leading to a diverse performance across major indices.
As November draws to a close, Wall Street celebrates a remarkable ascent, with the Dow Jones Industrial Average leaping to a new high for 2023, marking an 8% rally for the month.
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