Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
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Wall Street wrapped up another week on a positive note, sustaining its upward trajectory as major indices marked a fourth consecutive week of gains. The Dow Jones Industrial Average continued its climb, ending Friday with a modest yet noteworthy increase, while the S&P 500 edged slightly higher, underscoring the resilience of the market within a complex global economic landscape.
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 current financial landscape is dominated by two significant phenomena: the robust recovery in oil prices and the fluctuating behaviour of the US dollar. These elements are crucial in dictating the flow of commodities, currencies, and broader market strategies.
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.
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.
In a robust extension of recent market advances, the S&P 500 and Nasdaq Composite climbed higher on Tuesday, marking their most prolonged series of gains since November 2021 and reinforcing the upward momentum established in November’s rally.
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