December 1st Morning Report

The US market closed higher on Friday in thin trading volume during a shortened session after Thanksgiving, driven by gains in retail and a recovery in tech stocks. Expectations for a Federal Reserve rate cut in December strengthened throughout the week, helping underpin sentiment across equity markets.

The Dow Jones Industrial Average up 0.61%, while the S&P 500 and Nasdaq Composite were up 0.54% and  0.65% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.27%), the Dax 30 (+0.29%), CAC 40 (+0.29%) and the STOXX (+0.27%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(+0.17%), HSI (-0.34%) and the Shanghai Composite (+0.29%).

The yield on the US 10 - year note was at 4.017%, while the 2 - year note was at 3.497%. Oil was down to $58.55 per barrel, up 0.77%. The gold price was at US$4269.80 per ounce, up 1.25%. 

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