Daily Updates

It was a relatively quiet night on global financial markets, with US markets closed for the Thanksgiving holiday. European equities rose for the fourth day in a row, with the Stoxx 600 edging up 0.1% following a mixed session in the Asia-Pacific region. At home, the ASX 200 gave up most of yesterday’s early gains to close 0.2% higher and is marginally higher in early trade this morning.

US stocks continued their ascent last night, as traders remained confident that the Fed will cut rates in December. The S&P 500 is just 1.1% off its record high from a month ago, though the tech-heavy Nasdaq is still a 3.4% below its peak. US Treasury yields were little changed, while the US dollar depreciated.

The broad-based increases on Wall Street continued on Tuesday night, as a set of US data brought more arguments in favour of continued monetary policy easing by the FOMC.

US equities saw further gains last night, while US Treasury yields declined slightly further, amid more dovish Fedspeak.

US stocks bounced back on Friday, as risk sentiment improved after dovish Fedspeak increased hopes for FOMC monetary policy easing.

US stocks resumed declining last night, as mixed US labour market data further clouded the Fed monetary policy outlook and investors again started to question valuations of the tech sector.