[New York Market Briefing](26th) < New York Market < Article

*November 25 (local time)*

• New York Stock Exchange: Dow up 1.43%, S&P 500 up 0.91%, Nasdaq up 0.67%
• US 10-year Treasury yield: Down 3.50bp to 4.0020% from previous session's 3 p.m. close
• US Dollar: Weaker against both yen and euro; Dollar Index (DXY) fell 0.342 points (0.341%) to 99.842
• WTI crude: Down $0.89 (1.51%) to $57.95 per barrel

Market Summary

• The three major US stock indices closed higher. Although investor sentiment toward Nvidia deteriorated, causing a sharp early-session drop, optimism around the artificial intelligence (AI) theme fueled a rebound. However, Nvidia and AMD shares failed to recover by the close, reflecting mixed sentiment even within the AI sector. Nvidia shares plunged over 7% intraday before paring losses to end down 2.59%. AMD also fell more than 4% on the day.

• US Treasury prices rose for a fourth consecutive session, led by short-term maturities. Weak US economic data weighed on sentiment, while foreign media reported that Kevin Hassett, White House National Economic Council (NEC) member, is a leading candidate for the next Federal Reserve (Fed) chair.

• The US dollar weakened, with the Dollar Index (DXY) falling below the 100 mark. Growing expectations for a Russia-Ukraine peace agreement and disappointing US employment and consumption data put downward pressure on the greenback.

• New York oil prices reversed sharply lower after just one day, as hopes for an end to the war in Ukraine raised concerns about increased supply.

Daily Focus

• Trump: Russia-Ukraine peace deal "very close to agreement...clear progress" (Update)
• Fed Governor Myron: "Rising unemployment must be acknowledged...significant rate cuts needed"
• "Kevin Hassett emerges as leading candidate for next Fed chair in Trump circle" (Update)

Key Indicators in Asia Time Zone

• 09:30 – Australia Q4 Consumer Price Index (CPI) growth rate
• 10:00 – New Zealand interest rate decision
• 12:35 – Japan 40-year JGB auction
• 18:00 – Eurozone ECB Financial Stability Review
• 19:00 – UK Budget Outlook Report

US Indicators / Corporate Earnings

• 22:30 – US weekly initial jobless claims
• 22:30 – US October durable goods orders
• 00:00 (27th) – US October new home sales
• 00:30 – US November EIA gasoline inventory change
• 01:05 – Eurozone: Speech by ECB Chief Economist Philip Lane
• 02:00 – Eurozone: Speech by ECB President Christine Lagarde
• 03:00 – US November Baker Hughes oil rig count
• 03:00 – US 7-year Treasury auction
• 04:00 – US Federal Reserve Beige Book

(End)

Min Jae Lee