Stocks rallied across the board as Jerome Powell signaled a slowdown in the pace of tightening as early as December, while indicating more hikes to fight inflation. Bond yields slumped with the dollar. Amid all the optimism, the S&P 500 hit a two-month high, notching the longest monthly winning streak since August 2021. The gauge also breached its 200-day moving average: a threshold seen by some analysts as heralding more gains. The Nasdaq 100 jumped about 4.5% and the Dow Jones Industrial Average was up 20% from its September low -- meeting the bull-market definition.
Bond traders dialed back their expectations for how high they think the Fed might need to push its benchmark, with swap markets suggesting the key overnight rate might peak below 5%. Powell’s comments likely cement expectations for the Fed to hike by 50 basis points in December, following four straight 75 basis-point moves. Though he also noted that rates are likely to reach a “somewhat higher” level than officials estimated in September. US After Hours OKTA +13.1%, PVH +10.5%, FIVE +8.9%, SPLK +7.9%, SNPS +6% higher on earnings; GIII -22.8%, ESTC -15.6%, CRM -6.6%, SNOW -5.4% lower on earnings; OFIX +7.3% receives competing takeover bid.
Nikkei +1.13% Hang Seng +1.41% CSI +1.28% Shanghai +0.64% Shenzen +1.31%
Eur$ 1.0444 CNH 7.0561 CNY 7.0639 JPY 136.36 GBP 1.2100 CHF 0.9429 RUB 60.8167 TRY 18.6337 WTI$ 80.37 -0.22% Gold 1,780 +0.64% BTC 17,142 +0.22% ETH 1,285 -0.88%
S&P +0.15% Nasdaq +0.11% EuroStoxx +1.00% FTSE +0.25% Dax +1.00% SMI +0.38%
Macro :
- EU’s Breton Warns Musk Twitter Faces Ban Over Moderation: FT
- Kolanovic Sees Stocks Retesting Lows by End of the First Quarter
- FTSE MIB Index Review Results in No New Inclusions Or Exclusions
- Chinese Stocks Listed in US Add $205 Billion in Historic Month
Keep an eye on :
Keep an eye on :
- ABDN LN : Abrdn, Beazley, Weir Group to Be Added to FTSE 100 Index
- ADE NO : Adevinta Offering of Shares by Schibsted Prices at NOK70/Share
- BE ZLN : Abrdn, Beazley, Weir Group to Be Added to FTSE 100 Index
- BOSS GY : Calvin Klein Owner PVH Climbs After Boosting Year Outlook
- CBRN NA : Corbion Raises Mid-Term Organic Net Sales Growth Target
- DOF NO : DOF Gets Further Extension of Standstill Pact With Bondholders
- EXO NA : Agnellis’ Exor Has €6.5b Cash Firepower, Elkann Says
- GE US : GE to Buy Back About $7.2b Principal Amount of Debt Dec. 2
- HEIA NA : Heineken's Input-Cost Pressure Jeopardizes Cost Savings: React
- IBE SM : Iberdrola Finanzas Places €450M of Equity-Linked Green Bonds
- IBS PL : Ibersol 9M Sales EU398.6M Vs. EU241.7M Y/y
- ISP IM : Intesa CEO Messina Says Euro-Area Inflation Has Peaked: Stampa
- JUVE IM : Juventus Denies Any Accounting Wrongdoing
- LKOH RM : Lukoil Resumes Talks With Crossbridge to Sell Italy Refinery: FT
- MMB FP : EU Opens In-Depth Probe of Vivendi-Lagardère Deal
- ROG SW : Roche’s Failed Alzheimer’s Drug Cleared Less Amyloid Than Hoped
- ROG SW : Lilly Drug Removes Bad Alzheimer’s Protein in Six Months
- SHL GY : GE Healthcare to Begin Trading on Nasdaq on Jan. 4
- S30 FP : Solutions 30 Preparing Proposal to Buy Scopelec’s Assets
- TIT IM : Italy Government Rules Out Full Takeover of Telecom Italia
- TIT IM : Italy Government Rules Out Full Takeover of Telecom Italia
- TIT IM : Italy’s Butti Clarifies ‘For Now’ No Full Tel Italia Takeover
- TWTR US : Musk: Apple Never Considered Removing Twitter From App Store
- VLA FP : Valneva, Pfizer: Six-Month Antibody Persistence for Lyme Vaccine
- VIE FP : Veolia Sells EU920m Assets in Suez Deal in Compliance with EC
- VIV FP : EU Opens In-Depth Probe of Vivendi-Lagardère Deal
- WEIR LN : Abrdn, Beazley, Weir Group to Be Added to FTSE 100 Index