The First Slice for Wednesday, November 29, 2023

The First Slice for Wednesday, November 29, 2023

The First Slice for Wednesday, November 29, 2023

In the bustling world of U.S. stocks, a recent surge has kept traders on the edge of their seats, extending the November rally. This momentum follows comments by Federal Reserve governor Christopher Waller, who hinted that signs of a cooling economy might bring the inflation rate back to the target of 2%. Waller, known for his historically hawkish stance on interest rates, surprised Wall Street with a more dovish tone, prompting shifts in the market.

  • The Dow Jones Industrial Average went up 83.51 points, or 0.2%. 
  • The S&P 500 rose 4.46 points, or 0.1%. 
  • The Nasdaq Composite increased 40.73 points, or 0.3%,.

Despite this, there’s a difference of opinion among Federal Reserve members. Michelle Bowman, another Fed governor, believed that further increases in the federal funds rate are necessary to combat inflation. The market eagerly awaits Fed Chair Jerome Powell’s upcoming speech, adding another layer of anticipation and uncertainty to the financial landscape.

The S&P 500 has seen an 8.5% surge in November, contributing to an 18.5% advance for 2023. This positive movement resulted from evidence of cooling inflation, pushing benchmark bond yields to three-month lows. Treasury yields dropped after Waller’s comments, emphasizing the impact of central bank communications on the financial markets.

As investors eagerly await the Fed’s favored inflation report for October, there’s a 96% expectation that the benchmark interest rate will remain unchanged, according to the CME FedWatch tool. Looking ahead, economic data, including the S&P CoreLogic Case-Shiller home-price index, provides additional factors for consideration………First-Slice-e1700879991202 The First Slice for Wednesday, November 29, 2023[read more]

*Click on the “First Slice” icon for the full article! What are your thoughts on what is happening in the market & economy?

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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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