NEW YORK, Nov 24 (Reuters) – Making sense of the forces driving global markets
By Alden Bentley, Editor in Charge, Americas Finance and Markets
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Today’s Key Market Moves
- On Wall Street the benchmark S&P 500 (.SPX), opens new tab and tech-heavy Nasdaq (.IXIC), opens new tab were up about 1.6% and 2.7%, respectively
- U.S. Treasury yields , fell
- The dollar eased against the euro and rose vs the Japanese yen
- Crude oil rose 1.3%
- Gold rose 1.4%
Today’s Key Reads
Reanimated about December Fed cut
Investors paraded back into U.S. stocks after last week’s bull market reset, emboldened by the latest remarks by influential Federal Reserve officials. Fed Governor Christopher Waller on Monday told Fox Business that available data indicate labor conditions are weak enough to justify a quarter-point cut when the Federal Open Market Committee meets in two weeks, reinforcing dovish comments by New York Fed President John Williams that helped reverse last week’s selloff on Friday.
Rate futures markets place the odds of a quarter-point cut on December 10 at 67%, up from less than even last week. The Magnificent Seven mega caps were all in recovery mode, overriding concerns that rattled sentiment about excessive valuations and debt financing of the artificial intelligence spending spree.

More delayed data trickles out on Tuesday with the Producer Prices Index and Retail Sales from September that did not get released during the government shutdown. Given the Thanksgiving holiday on Thursday, early stock and bond closes on Friday, and the proximity of December book closings, large swings either way should not come as a surprise. Black Friday’s shopping deals will provide the first inkling of how retailers at least will fare going into year-end.
What could move markets tomorrow?
- US September Producer Prices
- US September Retail Sales
Reporting by Alden Bentley in New York; Editing by Bill Berkrot
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Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.













