LIVE MARKETS-US stocks clock fourth consecutive green day for Thanksgiving
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US STOCKS CLOCK FOURTH CONSECUTIVE GREEN DAY FOR THANKSGIVING
Stock markets remained buoyant on Wednesday and Wall Street’s three main indexes all registered their fourth consecutive up day as optimism over an impending Federal Reserve interest rate cut maintained demand for the assets.
Utilities .SPLRCU was the best performing sector, followed by tech .SPLRCT, which was boosted by Dell DELL.N on Tuesday forecasting fourth-quarter revenue and profit above Wall Street estimates.
Meanwhile, data on Wednesday showed that the number of Americans filing new applications for unemployment benefits fell to a seven-month low last week, pointing to still-low layoffs, though the labor market is struggling to generate enough jobs for those out of work.
Traders are pricing in 85% odds the Fed will cut rates next month as the labor market weakens, according to data from the CME Group's FedWatch Tool.
The Nasdaq Composite IXIC was the best performing major index, ending up 0.8%.
Communications services .SPLRCL and healthcare .SPXHC were the only sectors ending in the red.
The U.S. stock market will be closed for Thanksgiving Day on Thursday and close early on Friday when trading volumes are expected to be light.
Here is Wednesday’s closing market snapshot:
(Karen Brettell)
EARLIER ON LIVE MARKETS:
NED DAVIS RESEARCH SEES S&P 500 AT 7,100 BY END 2026 CLICK HERE
BREADTH OF S&P 500 VALUATIONS POSITIVE FOR STOCKS CLICK HERE
SOCGEN BEAR EDWARDS STILL FORESEES DOWNTURN, BUT CATALYST NOT CLEAR CLICK HERE
DEBT AT $18.6 TRILLION, BUT THE REAL STORY IS A BIFURCATED CONSUMER ECONOMY - WFII CLICK HERE
WE GATHER TOGETHER TO PARSE THE DAY'S DATA CLICK HERE
US STOCKS CLAW HIGHER IN EARLY TRADE CLICK HERE
NASDAQ BULLS FEELING THEIR OATS AGAIN CLICK HERE
WPP TO GET THE BOOT FROM FTSE 100, HIGHLIGHTS MORE PAIN FOR AD FIRMS CLICK HERE
All PRE-CONDITIONS FOR A BUBBLE NOW MET, BUT WE'RE STILL NOT IN ONE - UBS CLICK HERE
DEFENCE SHARES COOL; BOFA SEES A BUYING WINDOW CLICK HERE
CALMER THAN IT COULD HAVE BEEN CLICK HERE
EUROPE BEFORE THE BELL: DRUGS, FED, UKRAINE CHINA, BUDGET CLICK HERE
MORNING BID: REEVES TAKES CENTRE STAGE CLICK HERE
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