November 24 (local time)

  • New York Stock Exchange: Dow up 0.44%, S&P 500 up 1.55%, Nasdaq up 2.69%
  • US 10-Year Treasury Yield: Down 2.60bp to 4.0370% from previous session's 3 p.m. close
  • US Dollar: Firm against the yen, weaker against the euro; Dollar Index rises 0.027 points (0.027%) to 100.184
  • WTI Crude: Up $0.78 (1.34%) to $58.84 per barrel

Market Overview

All three major US indices closed higher, with risk-on sentiment prevailing ahead of the Thanksgiving holiday. Tech stocks led gains following positive reviews of Google's Gemini 3.0, sending shares of Alphabet Inc., Google's parent company, sharply higher.

Comments from Federal Reserve Governor Christopher Waller supporting rate cuts also buoyed equities. Alphabet A shares surged 6.31%, Broadcom soared 11.10%, and AMD climbed 5.53%. By sector, communication services jumped 3.94%, technology rose 2.49%, consumer discretionary gained 1.86%, and utilities advanced 1.12%. In contrast, consumer staples fell 1.32%.

US Treasury prices rose for a third consecutive session, with dovish remarks supporting expectations for a Fed rate cut in December, pushing the 10-year yield to its lowest level since late last month.

The US dollar remained firm, trading in a narrow range as markets weighed Fed rate cut expectations against potential Japanese government intervention.

New York oil prices posted their first gain since the 18th, reversing earlier losses as risk appetite improved on Wall Street.


Daily Focus

  • Fed Governor Waller: "Inflation is not a major concern amid weakening employment"
  • Trump: "US tariff revenues will surge... Awaiting Supreme Court ruling"
  • Dallas Fed November Manufacturing Index falls to five-month low, contracts for fourth straight month

Key Indicators in Asia Time Zone

  • 16:00 – Germany Q3 GDP growth rate

US Economic Data / Corporate Earnings

  • 22:15 – US ADP weekly employment change
  • 22:30 – US September Producer Price Index (PPI)
  • 22:30 – US September Retail Sales
  • 22:55 – US November Redbook
  • 23:00 – US September S&P/Case-Shiller Home Price Index
  • 00:00 (26th) – US November Conference Board (CB) Consumer Confidence Index
  • 00:00 – US October Pending Home Sales Index
  • 00:00 – US November Richmond Fed Manufacturing and Services Index
  • 00:30 – US November Dallas Fed Services Revenue
  • 03:00 – US 5-Year Treasury Note Auction

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