.png)
WEEKLY SUMMARY: S&P 500 best Thanksgiving week since Lehman
U.S. stock indexes finished the holiday-shortened week higher, boosted by dovish comments from some Fed officials and several weaker-than-expected economic reports that seemed to reinforce the idea that a December rate cut remains on track. Small-cap stocks outperformed their large-cap peers, as the Russell 2000 Index advanced 5.5%. The Nasdaq Composite also posted strong returns, rebounding from the prior week’s sell-off as concerns regarding elevated valuations and spending on AI appeared to take a back seat to optimism around the growth potential from the technology. In economic news, U.S. retail sales increased by 0.2% in September (below +0.4% estimates). September PPI rose 0.3% in September, in line with estimates. Core PPI increased by a lower-than-expected 0.1% during the month. US jobless claims hit lowest level in seven months while consumer confidence slides. Fed’s Beige Book notes softening labor market, rising prices. US Treasuries yields decreased as odds of a December Fed rate cut jumped. In international markets, the STOXX Europe 600 Index closed 2.35% higher while the Nikkei 225 Index gained 3.35% as JGB 10-year yields hit 17-year highs. Mainland Chinese stock CSI 300 Index rose 1.64% while Hong-Kong Hang Seng index gained 2.53%. Oil bounced back although the U.S. proposed a 28-point peace plan for resolution of the war in Ukraine’s Donbas region, as well as establishing a broader European & global security framework. Gold & Silver spiked, bitcoin jumped above $90k.
Have a great weekend
Charles & Syz Research Lab
Disclaimer
This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document.