By the end of trading, the Dow rose by 188.59 points, an increase of 0.42%, closing at 44,910.65 points; the Nasdaq rose by 157.69 points, an increase of 0.83%, closing at 19,218.17 points; the s&p 500 index rose by 33.64 points, an increase of 0.56%, closing at 6,032.38 points.
According to Zhitong Finance, US stocks rose on Friday, with global stock markets heading for their best monthly performance since May, the Dow hitting a record high intraday of 45,071.28 points. The Dow and s&p 500 index closed at all-time highs. The s&p 500 index increased by 1.06% for the week, with a cumulative rise of 5.73% in November; the Nasdaq increased by 1.13% for the week, with a cumulative rise of 6.26% in November; the Dow increased by 1.39% for the week, with a cumulative rise of 7.54% in November; Tesla (TSLA.US) rose over 38% monthly, marking the best performance in nearly two years.
[US Stocks] By the end of trading, the Dow rose by 188.59 points, an increase of 0.42%, closing at 44,910.65 points; the Nasdaq rose by 157.69 points, an increase of 0.83%, closing at 19,218.17 points; the s&p 500 index rose by 33.64 points, an increase of 0.56%, closing at 6,032.38 points. Tesla (TSLA.US) rose over 3%, nvidia (NVDA.US) and asml holding (ASML.US) rose over 2%.
[European Stocks] The german dax30 index rose by 220.58 points, an increase of 1.14%, closing at 19,643.75 points; the uk ftse100 index rose by 5.27 points, an increase of 0.06%, closing at 8,286.49 points; the france cac40 index rose by 55.86 points, an increase of 0.78%, closing at 7,235.11 points; the Europe's stock 50 index rose by 45.50 points, an increase of 0.96%, closing at 4,804.15 points; the spain ibex35 index rose by 22.10 points, an increase of 0.19%, closing at 11,641.00 points; the Italy's ftse MIB index rose by 158.87 points, an increase of 0.48%, closing at 33,419.00 points.
[Asia-Pacific Stock Markets] The nikkei 225 index fell by 0.37%, the Jakarta composite index in Indonesia fell by over 1.1%, and the KOSPI index in South Korea fell by over 1.9%.
[Cryptos] Bitcoin rose by 1.9%, priced at $97,463.57 per coin; ethereum rose by 0.53%, priced at $3,598.23 per coin.
[Gold] International precious metals futures generally closed higher, COMEX gold futures rose by 0.34% to $2,673.9 per ounce, and COMEX silver futures rose by 1.78% to $31.1 per ounce.
[Crude Oil] WTI January crude oil futures closed down $0.72, a decline of nearly 1.05%, at $68.00 per barrel, down 3.83% for the week, and a cumulative decline of about 1.18% in November. Brent January crude oil futures closed down $0.34, a drop of over 0.46%, at $72.94 per barrel, down 2.77% for the week, with a cumulative increase of about 0.18% in November.
[Metals] London copper closed up $8, at $9010 per ton. London zinc closed up $49, at $3103 per ton. London aluminum closed down $5, at $2594 per ton. London lead closed up $16, at $2072 per ton. London nickel closed down $161, at $15903 per ton. London tin closed up $721, at $28913 per ton.
Macro news
US retailers brace for the Black Friday shopping season as the number of consumers during Black Friday in the USA may break records. This year, retail giants such as walmart, amazon, target, and macy's have launched early 'Black Friday' promotions and extended their promotional periods. Many consumers prefer to shop in stores on 'Black Friday', enjoying the festive atmosphere. According to reports from Reuters, the National Retail Federation estimates that about 85.6 million consumers will shop in physical stores this year, up from 76 million during the same period last year. The total number of consumers shopping online and in-store is expected to reach a record of 0.1834 billion.
JPMorgan has advanced its expectation for a 50 basis point rate cut by the European Central Bank to December. JPMorgan economists have brought forward the expectation for a 50 basis point rate cut by the European Central Bank from January next year to December. Greg Fuzesi wrote in a client report, 'Given the sharp decline in PMI, slowing service inflation momentum, and the potential persistence of trade uncertainties, this situation seems very likely.' He pointed out that 'the European Central Bank does not have to make prior commitments for subsequent meetings, retaining full options, including the possibility of remaining on hold next.' 'It is confusing that dovish committee members have shown no clear push for a 50 basis point cut in December,' he admitted there is confusion but stated 'perhaps data is changing too quickly.'
Canada's business investment fell again in the third quarter, exacerbating production difficulties. The Canadian tertiary GDP report supports the Canadian Central Bank's potential rate cut next month, although the magnitude of the cut remains uncertain. Factors dragging down GDP include a slowdown in corporate inventory growth, weak net trade, and a renewed decline in business investment. The decrease in capital expenditures may once again sound the alarm for policymakers, as Canada urgently needs to increase corporate investment to reverse sluggish productivity. Canada's productivity has declined in eight of the past nine quarters, widening the gap with the USA.
European Central Bank committee member Villeroy calls for continued rate cuts as inflation targets come into sight. European Central Bank committee member Francois Villeroy de Galhau believes the central bank should continue to cut rates, as inflation in the Eurozone may reach 2% in the first half of 2025. 'We have some good news, inflation has slowed and is moving towards our target,' he said in Dijon on Friday. 'Therefore, we might be able to continue lowering rates.' Data released earlier on Friday showed that the Eurozone's November consumer price index rose 2.3% year-on-year, with this French central bank head stating, 'Within our forecast — aside from monthly changes — we are confident of reaching our target next year, likely in the first half of next year.' The market widely expects the European Central Bank to cut rates for the fourth time at next month's meeting. Due to geopolitical uncertainties casting a shadow over the outlook, the path thereafter remains unclear. 'Some of you say, 'We should speed up,' while others say, 'No, we need to be cautious,' Villeroy said. 'I am one of those who believe we must continue to cut rates, and we will see the specific pace of rate cuts in the coming months.'
[Individual stock news]
Bilibili (BILI.US) closed up 1.59%, with news that Taobao's official livestreaming sales have expanded to Bilibili. The official livestream sales channel of Alibaba's Taobao has been launched on Bilibili, with its subsidiary Zhejiang Taote Software recently setting up a certified account named "Taobao Flash Sale" to conduct livestream sales. It is reported that the products sold in Taobao Flash Sale come not only from Taotian Group's daily special sales factory but also from brands like Chow Tai Seng Jewellery and Chayan Yuesheng.
Pony.ai (PONY.US) closed up 8.5%, becoming the first stock to be listed globally in the Robotaxi sector. Pony.ai debuted on the U.S. stock market on November 27, issuing 20 million American Depository Shares (ADS), with each ADS representing one share of the company's Class A common stock, priced at $13 per share. It is reported that Pony.ai is the first global Robotaxi listed stock, providing safe, advanced, and reliable full-stack autonomous driving technology, creating a "virtual driver" applicable to different vehicle models and scenarios, used in three major scenes: autonomous ride-hailing services (Robotaxi), autonomous trucks (Robotruck), and passenger vehicle smart driving (POV). The company's technology and scale in the L4 autonomous driving field are globally leading, achieving full unmanned Robotaxi commercial operations first.
