U.S. market averages are set to extend their rally to the fifth week in a row as interest rate optimism dominates market sentiment. Crude oil traded sideways after OPEC+ announced production cuts, and gold edged higher on the dollar's weakness.
Stocks surged in November, and the U.S. benchmark indexes advanced between 8% and 11%. Crude oil prices fell 7%, and gold advanced 3% after interest rates neared peak rates and geopolitical tensions eased.
Stocks are set to advance after the latest update on the alternative measure of inflation slowed in October. The S&P 500 index and the Nasdaq Composite are set to deliver the best monthly gains in 26 months.
Market indexes on Wall Street extended sizeable gains in November, and Treasury yields eased to two-month lows. GDP growth in the third quarter was revised higher, reflecting higher government spending and inventory investment.
Stock market indexes rested for the second day in a row this week after rallying for four weeks in a row. Crude oil prices jumped after storms in the Black Sea forced Kazakhstan to slash production at its three largest oil fields.
Market indexes lacked direction for the second day in a row after advancing in previous four consecutive weeks. E-commerce-related stocks were in focus after a surge in online shopping during the Thanksgiving holiday.
Benchmark indexes struggled on Wall Street after advancing for four weeks in a row. Crude oil prices were in focus as OPEC+ struggled to agree on production levels for the next two months.
Market averages extended November gains, and crude oil traded volatile after the OPEC+ postponed the meeting as Saudi Arabia worked to develop a consensus for production limits.
Stocks advanced, Treasury yields traded lower, and the bond market showed little movement after the release of the latest Fed's meeting minutes. Total mortgage application volume increased and reached a six-week high.
The Fed's minutes of the meeting showed that policy members agreed that the current stance of monetary policy was restrictive, but more evidence may be needed to determine if inflation was on the sustainable path of reaching the policy target rate of 2%.
Stocks rested in early trading after a tech-fueled rally lifted benchmark indexes for five days in a row. Treasury yields continued to drift lower from the highs reached in October, and the dollar indexes hovered near a three-month low.
Treasury yields remained unchanged, market indices increased, and high-growth stocks led the gainers. The dollar index drifted lower after the euro, the pound, and the Swiss franc edged to three-month highs.
Stocks were little changed in Monday's trading after benchmark indexes advanced for the third week in a row. Growth stocks led the gainers after interest rate hike worries receded, but the first decline in retail sales kept market enthusiasm in check.
