Overview
Today's U.S. stock market closed higher. Several economic indicators bolstered the possibility of an additional Fed rate cut in November, driving the upward trend.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
- September retail sales and the producer price index showed signs of slowing consumer spending and easing inflation.
- November's consumer confidence index saw its most significant drop in seven months, while ADP private payrolls data indicated cooling in the labor market.
- News that Meta is considering adopting AHL lifted tech stocks, though NVIDIA, AMD, and Oracle faced declines.
- Reports emerged that the National Economic Council Chairman, Kaplan, is being considered as the next Fed chairman, heightening expectations for a rate cut.
Tomorrow's Economic Indicators
| Time | Event |
|---|---|
| 21:00 | U.S. MBA Mortgage Applications |
| 22:30 | U.S. Initial Jobless Claims |
| 22:30 | U.S. September Durable Goods Orders |
| 23:45 | U.S. November PMI |
| 24:30 | U.S. EIA Crude Oil Inventories |
| 24:30 | U.S. EIA Natural Gas Inventories |
| 24:30 | U.S. 7-Year Treasury Auction |
| 04:00 | U.S. Fed Beige Book Report |
General Opinion
Expectations for a Fed rate cut have strengthened, driving the market's upward momentum. Investors are increasingly optimistic about a potential December rate cut, with the tech and financial markets reacting accordingly.
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