November 24th Morning Report

The US market closed sharply higher on Friday as traders boosted bets on an interest rate cut by the Federal Reserve next month, while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations.

The Dow Jones Industrial Average up 1.08%, while the S&P 500 and Nasdaq Composite were up 0.98% and  0.88% respectively.

Other key markets ended lower. European stocks closed as follows: the FTSE100 (+0.13%), the Dax 30 (-0.80%), CAC 40 (+0.02%) and the STOXX (-0.98%). In Asia, the Hang Seng and Shanghai indices closed higher. The key Asian indices ended yesterday as follows: Nikkei 225(-2.40%), HSI (-2.38%) and the Shanghai Composite (-0.40%).

The yield on the US 10 - year note was at 4.067%, while the 2 - year note was at 3.505%. Oil was down to $57.81 per barrel, down 2.02%. The gold price was at US$4116.00 per ounce, up 0.48%. 

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