Breaking News: the US stock market ends on the higher. It has gone higher as Powell has raised the peak rate hopes. The S&P has logged the highest close of 2023. The US Federal Reserve Chair, Jerome Powell has acknowledged the central bank needs to move forward carefully regarding the signs of economic softening as the is a risk of over and in the tightening its monetary policy is currently becoming more balanced. The US stock market ended up higher on 1st December 2023, Friday. It ended higher with the S&P registering the highest loss of 2023 on Friday. Now read the entire article to learn every single thing.
According to the reports, the United States stock market ended up higher on 1st December 2023, Friday with the S&P registering its highest close of 2023. ERemarks set by the US Federal Reserve Chair Jerome Powell have bolstered the view that the main police rates are now their peak. This is completely shocking. It has been recorded that all three key US stock indexes have gained notching their fifth weekly percentage gains in a row. The Dow Jones Industrial Average has rallied 294.61 points has ended at 36,245.5. Scroll down to learn more.
It has been reported that the S&P 500 has officially surged by 26.83 points to 4,594.63 which is its highest level from last year March. On the other hand, the Nasdaq Composite has closed at 78.81 points higher at 14,305.03. Sources have revealed that Powell has recently acknowledged the central bank which needs to move forward carefully regarding the signs of economic softening. There is a risk of over and under-tightening the monetary policy which is now becoming more balanced. The recently released data has showcased that US manufacturing is continuing to contract the factories contend with the decreasing new orders which were falling inventories and also the labor pressures.
The US treasuries have gained and yield dropped regarding the rising bets on the official interest rate is going to be cut down in 2024. The yields on the two-year US Treasuries had officially declined on the 9 basis points to below 4.6%. The Pfizer shares have now fallen by 5.1%, the US-listed Alibaba shares have now fallen by 1.2% whereas on the other side, Marvell technology has declined to 5.3%. Also, the Ultra Beauty share price has now jumped to 10.8% and the shares of Paramount Global have surged to 9.8%. Stay tuned to techballad for more information.