Over the river and through the woods: Wall St ends winding week with gains
Main U.S. indexes end higher; Dow leads the pack
Industrials lead S&P 500 sector gainers; Comm Svcs weakest group
Dollar rallies; bitcoin, crude, gold all add >1%
U.S. 10-Year Treasury yield edges down to ~4.41%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
OVER THE RIVER AND THROUGH THE WOODS: WALL ST ENDS WINDING WEEK WITH GAINS
Wall Street ended the pre-Thanksgiving week on a an upbeat note, with all three major stock indexes flashing green at the closing bell.
All three also logged gains from last Friday's close, marking a rebound from the prior week's loss.
On an S&P 500 .SPX sector level, consumer discretionary .SPLRCD and industrials .SPLRCI posted the largest gains. Small caps .RUT and banks .SPXBK were also among outperformers.
Generally upbeat results from AI poster child Nvidia NVDA.O, industrial bellwether Deere DE.N and a host of retailers put a cherry on top of the cake of third-quarter earnings season, which turned out to be stronger than analysts expected.
With only a handful of companies in the S&P 500 yet to report, the earnings beat rate stands at 76%. Analysts now expect aggregated year-over-year S&P 500 EPS growth of 8.9%, more robust than the 5.3% estimate as it stood on October 1, according to LSEG data.
Geopolitical tensions were kicked up a notch as Ukraine began firing U.S.- and UK-made missiles deep into Russian territory, prompting Russia to launch a hypersonic missile into Ukraine in a clear warning to back off.
Economic data this week was fairly light, with much of it centered around the housing market, which continues to plug along despite elevated mortgage rates.
Next week, while shortened by the holiday, is expected to bring with it a slew of economic indicators crammed within just a few days, including Case-Shiller home prices, new home sales, durable goods, pending home sales, consumer confidence, and a second stab at third quarter GDP.
But the Commerce Department's hotly anticipated PCE report, expected on Wednesday, is the star attraction. It includes income growth, consumer spending and, crucially, the PCE price index, Powell & Co's preferred inflation yardstick.
Here's your closing snapshot:
(Stephen Culp)
*****
FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:
RETAILERS UP SHARPLY FOR 2ND DAY AFTER UPBEAT RESULTS - CLICK HERE
DATATREK GIVES YEAR-END 2025 S&P 500 TARGET OF 6,840 - CLICK HERE
SERVING CORE PCE, RETAIL EARNINGS AS TURKEY APPETIZERS - CLICK HERE
INDIVIDUAL INVESTOR BULLS TAKE A DIVE - AAII - CLICK HERE
US BUSINESS ACTIVITY HEATS UP AS PRE-HOLIDAY CONSUMER MOOD COOLS - CLICK HERE
MAIN US INDEXES MIXED, BUT HEADED FOR WINNING WEEK - CLICK HERE
S&P 500 INDEX: BACK ON TRACK FOR NEW HIGHS? - CLICK HERE
A 50-BPS ECB CUT IN DECEMBER? DISCOURAGING EURO ZONE PMI KEEPS MARKETS GUESSING - CLICK HERE
UK CONSUMER SENTIMENT DOWN POST-LABOUR BUDGET - JP MORGAN - CLICK HERE
MICROSTRATEGY'S SHARE TURNOVER TOPS TECH GIANTS AS BITCOIN ON VERGE OF $100,000 -CLICK HERE
AS SOME TRUMP TRADES LOSE STEAM, WHAT HAPPENS NEXT? - CLICK HERE
MORE BUYBACKS BRIGHTEN ASIA'S BELOW EXPECTATIONS Q3 EARNINGS - HSBC - CLICK HERE
TECH, REAL ESTATE LEAD STOXX 600 HIGHER - CLICK HERE
EUROPEAN EQUITY FUTURES HIGHER, PMIS IN FOCUS - CLICK HERE
BITCOIN WATCH PARTY RAGES ON AS PMIS LOOM - CLICK HERE
Closing snapshot https://reut.rs/40UZQjC
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
