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The First Slice for Friday, December 1, 2023

The First Slice for Friday, December 1, 2023

In a financial rollercoaster, the Dow Jones Industrial Average has hit its highest close since January 2022, with the S&P 500 and Nasdaq celebrating their most significant monthly gains since July 2022. The surge was fueled by falling U.S. bond yields, optimism about easing inflation, and potential Federal Reserve rate cuts in the upcoming year. Despite the Dow’s impressive performance, concerns linger as megacap technology giants like Nvidia Corp. and Meta Platforms Inc. experienced weakness, impacting the Nasdaq.

Brent Schutte, Chief Investment Officer at Northwestern Mutual Wealth Management Company, challenges the prevailing optimism, predicting that rather than orchestrating a soft economic landing, the Federal Reserve might maintain high rates until a mild recession occurs. He emphasizes the potential underestimated impact of higher rates on U.S. companies and households, as the buffer from a historic pandemic refinancing spree erodes over time. Investors also received mixed signals as inflation continued to ease in October, but jobless claims hinted at a cooling U.S. labor market.

Despite positive signs, there’s a sense of caution in the market, with Matt Palazzolo, Senior Investment Strategist at Bernstein Private Wealth Management, noting a sideways movement in the past week. The team anticipates a mid-single-digit return for the S&P 500 in the coming year. Meanwhile, oil futures experienced volatility as OPEC+ agreed to reduce monthly production, initially boosting prices but ultimately resulting in a 1.5% decrease in U.S.-traded West Texas Intermediate crude………First-Slice-e1700879991202 The First Slice for Friday, December 1, 2023[read more]

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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