US Stocks See Last-Minute Surge as Wall Street Winds Down Volatile Month
In a last-ditch effort to salvage its performance, US stocks staged a late-day comeback on Friday, leaving the market with a modest gain for November. The S&P 500 index rose by 0.4% and is now poised to avoid a first down month since April.
The Dow Jones Industrial Average rallied 282 points, while the Nasdaq Composite gained 0.5% as of mid-morning trading. Bitcoin's price surge above $92,000 propelled Coinbase Global up 4.3%, but Nvidia's 1.4% decline weighed on the overall market. Tech giants Meta Platforms and Micron Technology bucked the trend with gains of 1.5% and 2.4%, respectively.
Despite a technical issue that halted futures trading for hours earlier in the day, Wall Street was able to shake off its concerns about interest rate cuts by the Federal Reserve. Analysts now expect a nearly 87% probability of a rate cut at the Fed's meeting next month, citing recent comments from officials.
However, not all investors were optimistic, as retail stocks took a hit following disappointing Black Friday sales results. Macy's and Kohl's saw slight gains, but Dick's Sporting Goods fell by 1.4%. Specialty retailers fared better, with Abercrombie & Fitch rising 4.4% and American Eagle Outfitters gaining 0.7%.
Meanwhile, in European markets, Germany's DAX index rose 0.3%, driven by a report showing inflation accelerated more than expected in November. In Asia, Japan's Nikkei 225 rebounded from losses earlier in the day to close 0.2% higher.
As trading comes to an end for the month of November, investors will be left wondering what next month holds. Will the Fed continue its interest rate-cutting cycle, or will it tighten its grip on inflation? One thing is certain – the market's volatility has only just begun.
In a last-ditch effort to salvage its performance, US stocks staged a late-day comeback on Friday, leaving the market with a modest gain for November. The S&P 500 index rose by 0.4% and is now poised to avoid a first down month since April.
The Dow Jones Industrial Average rallied 282 points, while the Nasdaq Composite gained 0.5% as of mid-morning trading. Bitcoin's price surge above $92,000 propelled Coinbase Global up 4.3%, but Nvidia's 1.4% decline weighed on the overall market. Tech giants Meta Platforms and Micron Technology bucked the trend with gains of 1.5% and 2.4%, respectively.
Despite a technical issue that halted futures trading for hours earlier in the day, Wall Street was able to shake off its concerns about interest rate cuts by the Federal Reserve. Analysts now expect a nearly 87% probability of a rate cut at the Fed's meeting next month, citing recent comments from officials.
However, not all investors were optimistic, as retail stocks took a hit following disappointing Black Friday sales results. Macy's and Kohl's saw slight gains, but Dick's Sporting Goods fell by 1.4%. Specialty retailers fared better, with Abercrombie & Fitch rising 4.4% and American Eagle Outfitters gaining 0.7%.
Meanwhile, in European markets, Germany's DAX index rose 0.3%, driven by a report showing inflation accelerated more than expected in November. In Asia, Japan's Nikkei 225 rebounded from losses earlier in the day to close 0.2% higher.
As trading comes to an end for the month of November, investors will be left wondering what next month holds. Will the Fed continue its interest rate-cutting cycle, or will it tighten its grip on inflation? One thing is certain – the market's volatility has only just begun.
so like this last min surge in us stocks, i was thinking maybe its cuz people r expecting some kinda change from the fed 
but at the same time, theres still a lot of uncertainty about inflation and all that 
it feels like we r living in a world where everything can change on a whim 
anyway, i guess its good for the market or whatever lol, i mean who doesn't love a good rollercoaster ride? 
the tech giants like meta and micron really saved the day for us 
can't wait to see what december brings 
hope it's more positive vibes for everyone 
. i'm glad us stocks managed to end november with a modest gain tho 
. the fed rate cut is still a wild card, but i think it's good that they're keeping options open 
. retail sales were a bit of a bummer, but specialty retailers are doing alright 
. european markets seem to be holding steady 
. japan's rebounding from losses is a nice sight 
. what's next month gonna bring? only time will tell 
.
. So, US stocks manage to pull off a late-day comeback and avoid getting roasted by the market gods. Yay, I guess? The S&P 500 index is up 0.4%, which is basically just a shrug from Wall Street at this point. Meanwhile, Bitcoin's price surge is like that one aunt who always shows up uninvited to family gatherings – it's a weird and wonderful thing 
. I mean, who wants to shop when you can just stay home and watch paint dry? 
. Bring it on, I guess...
The uncertainty is intoxicating but also terrifying, like standing at the edge of a cliff staring into the abyss. We're all just trying to stay afloat in this sea of volatility... and what's the real cost of our risk-taking, anyway? 
us stocks are always all over the place but that last-minute surge was nice to see 
retail stocks were a bit of a letdown though, black friday sales results weren't exactly what investors wanted to hear 
abercrombie & fitch is a beast though 
The Fed's gotta do its thing and watch inflation. And investors are just trying to stay on top of it all 
. I mean, November was basically expected to be down month, but suddenly they're up 0.4%? That's some wild stuff 
.
. And what's with the European markets? A report showing inflation accelerated more than expected? That's like throwing gasoline on a fire 
.
. 87% chance of fed rate cut next month is crazy 
. retail stocks got smashed after black friday sales were meh 
. Germany's inflation report is a little more promising tho 
️ Last-minute surge saves US stocks from a down month 
so finally a decent week to end november, i guess. like who needs consistency in their returns anyway? 0.4% isn't gonna make much of a difference for anyone, right? 
. The Dow Jones was like 282 points up, which is whoa