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.

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.

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.

The financial markets have come alive with a sense of renewed vigour as signs from the Federal Reserve suggest a possible cessation to the aggressive rate hikes of the past months.

US equities delivered a remarkable performance yesterday, with the S&P CFD making a strong comeback by reclaiming the 200-day moving average. It also retested crucial trend lines and horizontal resistance levels near the 4330 mark.

Treasury yields continue to slide lower following yesterday's quarterly refunding announcement and the Federal Open Market Committee (FOMC) decision, creating a favorable environment for bond investors.

Economic Calendar: UK Jobs & PMI Data, AUD CPI Data, German and French Flash PMI Data, ECB Policy Decision.

Risk assets tumbled last night as geopolitical tensions saw more escalations. Talks of attacks on US Navy ships sent geopolitical jitters across markets boosting gold and oil prices.

Today, the financial markets continue to closely monitor the US 10-year Treasury yields as they edge closer to the 5% threshold. This ongoing climb in yields, which reached a new cycle high last night, has added further pressure to risk appetite.

The past week was a tumultuous one for the capital markets, with bond yields surging, stocks falling, and the dollar gaining strength.

quities remain under pressure, with futures like the ES, NQ, and STOXX50 testing major support levels. A break and close below these levels could open up more selling pressure.