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Wall Street ended a volatile week with declines, as the S&P 500 fell 0.2% and the Dow Jones dropped 81 points. Broadcom surged 20.2% after exceeding profit expectations, while RH rose 14.3% on an optimistic revenue forecast. The Federal Reserve is anticipated to cut interest rates for the third time since September, amid mixed economic signals and a slight uptick in inflation.
U.S. markets are responding positively to President-elect Donald Trump's policies, with the S&P 500 and Dow Jones hitting record highs despite his tariff threats. The Federal Reserve plans to gradually lower interest rates if inflation stabilizes at 2% and employment remains strong. Meanwhile, Softbank invests $1.5 billion in OpenAI, reflecting ongoing interest in tech advancements.
U.S. markets reached record highs despite President-elect Trump's tariff threats, with the S&P 500 rising 0.57% and the Dow Jones up 0.28%. However, automakers like GM and Stellantis faced declines due to proposed 25% tariffs on imports from Canada and Mexico. A permanent ceasefire between Israel and Hezbollah is set to begin, while the Fed plans to gradually lower interest rates if inflation stabilizes at 2%.
Asia markets are set to open mixed as Wall Street reaches new record highs, with the Dow and S&P 500 closing up 0.3% and 0.6%, respectively. A London hedge fund has taken a bearish stance on Cargojet, citing concerns over its aging fleet and leadership. Meanwhile, consumer confidence rose in November, with expectations for the stock market hitting a record high, driven by optimism in the labor market and improved inflation outlook.
US retailers are extending Black Friday deals into weeks-long sales events to stimulate consumer spending, which is showing signs of slowing. Major retailers like Walmart, Amazon, and Target are offering significant discounts, yet general merchandise sales fell 3% year-on-year as consumer confidence remains low amid persistent inflation concerns. Despite forecasts of nearly $1 trillion in holiday sales, growth is expected to be the slowest since 2018, prompting retailers to incentivize purchases across different income levels.
Gregory Daco
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Wall Street slips as Broadcom and RH boost market amid mixed signals
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