Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
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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.
Wall Street witnessed a day of cautious trading as the S&P 500 wavered to a lower close, reflecting the market's attempt to digest mixed messages from Federal Reserve officials and robust GDP data. Investors weighed the implications of a stronger-than-expected third-quarter GDP revision against the backdrop of ongoing Fed policy discussions.
Stocks showed a positive trend on Wednesday, with the Dow Jones Industrial Average leading the way, gaining 178 points, or 0.5%. The S&P 500 and Nasdaq Composite followed suit, climbing 0.4% and 0.5%, respectively, as the markets prepared for the Thanksgiving holiday.
The stock market showed mixed responses as the Federal Reserve's latest meeting minutes reinforced its hawkish stance on interest rates amidst ongoing inflationary pressures.
In a significant boost to Wall Street's confidence, Nasdaq led the charge as major U.S. stock indices closed higher on Monday.
The Dow Jones Industrial Average responded positively to the latest Producer Price Index (PPI) data, indicating easing inflation, with an impressive gain of over 150 points.
The stock market experienced a notable rally, with the S&P 500 logging its best day since April and the Dow Jones Industrial Average soaring nearly 500 points.
In a trading day characterised by cautious anticipation and nuanced market reactions, the S&P 500 displayed remarkable stability, closing nearly flat. This subdued closure follows Moody's recent revision of the U.S. outlook and comes on the eve of a highly anticipated inflation data release.
The tranquillity in the financial markets was disrupted as the S&P 500's impressive eight-day ascent came to an abrupt halt, signalling investor unease.
In a testament to its enduring resilience, the S&P 500 index carved out an eighth straight day of gains, despite a modest uptick, while the Nasdaq Composite marginally retreated by 0.1%, and the Dow Jones Industrial Average edged down by 0.2%, shedding 80 points.
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