Market Highlights π‘ - 12 November 2024
S&P 500 Index Breaks 6,000 Points for the First Time
πΊπΈ S&P 500 Index: +0.10% π
πΊπΈ Nasdaq Index: +0.06% π
πͺπΊ STOXX 600 Index: +1.13% π
π―π΅ Nikkei 225 Index: +0.08% π
ππ° Hang Seng Index: -1.42% π
π¨π³ CSI 300 Index: +0.66% π
πΈπ¬ Straits Times Index: +0.41% π
β’ U.S. stocks rose slightly, with the S&P 500 and Nasdaq both up by 0.1%. Investors are increasingly aligning their portfolios with the economic policies expected from the newly elected President Donald Trump.
β’ Chinese stocks were mixed, with the Hang Seng Index falling by -1.4%, while the CSI 300 Index rose by 0.7%, as investors continued to digest Beijing's latest stimulus plan, which saw real estate and consumer sectors among the hardest-hit industries.
π‘ Upcoming Events: π‘
β’ On Tuesday, the U.S. NFIB Small Business Index and U.S. RCM/TIPP Economic Optimism Index will be released.
β’ On Wednesday, the U.S. Core CPI MoM, U.S. CPI YoY, Eurozone Industrial Production MoM, and Japan PPI will be released.
β’ On Thursday, the U.S. PPI MoM, U.S. Jobless Claims, Eurozone GDP Preliminary Qtr, and ECB Monetary Policy Meeting Minutes will be released.
β’ On Friday, the U.S. Core Retail Sales MoM, EU Economic Forecast, China Industrial Production YoY, China Retail Sales YoY, China Unemployment Rate, Japan Preliminary GDP QoQ will be released.
π‘ Things to Know Today: π‘
1. AI companies, including OpenAI, are dealing with unexpected delays and challenges as they develop larger language models. They are exploring new training methods to enable algorithms to process information in a way that is closer to human thinking.
OpenAI
2. Bitcoin reached a new milestone, surpassing 88,000 USD for the first time. This surge is attributed to the favorable stance of newly elected U.S. President Donald Trump on digital assets and expected support for cryptocurrencies from Congress. $Marathon Digital Holdings Inc(MARA)$
Bitcoin
3. According to the October policy meeting minutes, Bank of Japan (BOJ) board members emphasized caution in raising the benchmark interest rate, with no clear indication of a rate hike next month.
4. In November, Australian consumer confidence surged for the second consecutive month, reaching its highest level in two and a half years, driven by improved optimism regarding the economy and personal financial situations.
5. Grab Holdings $Grab Holdings(GRAB)$
Grab
β Key Takeaways:
Investors continue to weigh the impacts of the election and interest rate cuts.
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Here are some relevant news articles regarding the S&P 500 Index:
πShare your strategy for making money on the market!: This article mentions that several stocks, including the S&P 500, have added gains since the re-election of President Donald Trump. The S&P 500 rose 0.10% to 6,001.35 points.
Dow Closes Above 44,000 for First Time; S&P 500 Tops 6,000 as Tesla Soars: This article discusses the milestone achievements of the Dow Jones Industrial Average and the S&P 500. The S&P 500 closed above 6,000 for the first time, reaching 6,001.35 points.
The S&P 500 Closes Above 6000 for the First Time -- WSJ: This article highlights that the S&P 500 closed above 6,000 points, setting a new record. The index has been driven by the performance of companies like Vistra and Palantir, buoyed by the AI boom.
S&P 500 breaks 6000 mark in Trump and Fed-fueled rally: This article mentions that the S&P 500 reached the 6,000 mark, posting its best weekly percentage jump since November 2023, with strong business confidence following the U.S. election.
LIVE MARKETS-S&P 500 scores first close above 6k: This live markets report highlights the S&P 500's achievement of closing above 6,000 for the first time.
Please note that investing in the stock market carries risks, and the above news articles are for information purposes only. It is advisable to conduct further research and consult with a financial advisor before making any investment decisions.