Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
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On Tuesday, Wall Street showcased a complex interplay of economic data and investor sentiment, leading to a diverse performance across major indices.
In a stark contrast to the recent rally, Wall Street encountered a hiccup in its upward climb on Monday, as major indices retreated from their consecutive weeks of gains. The Dow Jones Industrial Average, which had been riding a wave of optimism, experienced a slight contraction, shedding 23 points, a subtle yet telling 0.1% dip.
In a remarkable turn of events, Wall Street witnessed a significant surge on Friday, with the S&P 500 scaling to its highest closing point of 2023, driven by growing optimism and speculative sentiments around potential interest rate cuts.
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.
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 stock market retreated on Thursday, with the Dow Jones Industrial Average closing lower by 98 points, or 0.3%, effectively ending its four-day winning streak.
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.
Last week's financial markets have been a theatre of contrasting scenarios. The Dow Jones Industrial Average has shown remarkable resilience with a significant rally, while Saudi Arabia ETFs have faced unprecedented outflows.
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