- Market Performance on December 1: U.S. stock markets closed sharply higher on Friday, with the S&P 500 reaching its highest close since March 2022. The Dow Jones Industrial Average and the Nasdaq Composite also ended positively, with particular strength in the Real Estate and Industrials sectors.
- Federal Reserve Chairman’s Speech: Jerome Powell’s recent speech at Spelman College emphasized a cautious approach to interest rate cuts and the need to maintain a restrictive policy until inflation is under control. His remarks continue to influence market sentiments.
- Oil Prices: Oil prices fell more than 2% on Friday due to concerns over global manufacturing slowdown and disappointment with OPEC+ supply cuts. Brent crude and U.S. WTI both experienced declines.
- Economic Data: Construction spending for October increased by 0.6%, exceeding expectations. However, the ISM Manufacturing Index for November was below consensus, indicating an economic slowdown.
- Weekly Performance: Last week, the S&P 500 recorded a gain of 0.8%, the Dow rallied by 2.4%, and the Nasdaq increased by 0.4%
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