Daily global market review

The S&P 500 and Nasdaq Composite concluded the trading session with slight declines, primarily influenced by relative weakness in mega-cap stocks. In contrast, the Dow Jones Industrial Average managed a marginal gain of 0.04%, while the Russell 2000 and S&P Mid Cap 400 exhibited stronger performances, rising 0.6% and 0.4%, respectively.

Despite an initial positive bias, buyer enthusiasm diminished as the session progressed. Advancers initially dominated decliners by a substantial margin, but the lead narrowed by the close. The equal-weighted S&P 500, which experienced a 0.4% gain, had reached as high as 1.1% earlier in the day.

Among the S&P 500 sectors, six closed higher, with the real estate sector leading the gainers with a 0.7% increase. In contrast, the communication services sector witnessed the most significant decline (-1.1%), primarily due to the underperformance of its mega-cap constituents.

A decline in Treasury yields provided support for stocks, particularly during this seasonally robust period for the market. The 2-year note yield settled seven basis points lower at 4.66%, and the 10-year note yield declined by seven basis points to 4.27%. This movement was partially attributed to favorable inflation data from Germany, Spain, and Australia, coupled with speculation about a potential rate cut by the Fed in the first half of 2024. However, Richmond Fed President Barkin emphasized that it is premature to discuss rate cuts, keeping the possibility of further rate hikes on the table.

Market sentiment was also influenced by positive factors, including an upward revision of Q3 real GDP to 5.2%, General Motors announcing a $10 billion share buyback program and a 33% dividend increase, and favorable earnings results from companies like CrowdStrike, NetApp, Intuit, Workday, and Foot Locker.

In terms of economic data, the Fed's November Beige Book noted a slowdown in economic activity since the previous report, with a continuing easing of demand for labor. The stock and bond markets showed minimal reaction to this information.

As of the day's close, the Nasdaq Composite posted a gain of 36.2%, the S&P 500 rose by 18.5%, the Dow Jones Industrial Average increased by 5.7%, the S&P Midcap 400 advanced by 4.9%, and the Russell 2000 saw a gain of 2.4%. Economic indicators included the Weekly MBA Mortgage Applications Index, Q3 GDP (Second Estimate), and data on international trade in goods, retail inventories, and wholesale inventories for October. The report underscored the robust performance of the U.S. economy in the third quarter, driven by a strong labor market and healthy consumer spending, despite higher interest rates.

The 10-year Treasury Note experienced a slight increase of 5/32, resulting in a yield of 4.270%. In the stock market, the New York Stock Exchange (NYSE) saw 1841 advancing stocks, 979 declining stocks, and a trading volume of 987 million. On the Nasdaq, there were 2542 advancing stocks, 1754 declining stocks, and a trading volume of 4.9 billion.

In terms of industry performance, the Real Estate, Financials, Industrials, and Materials sectors demonstrated strength, while the Consumer Staples, Energy, Communication Services, and Utilities sectors exhibited weakness.

Several factors influenced market movements, including a further decline in market rates, the impact of relative weakness in mega-cap stocks on index performance, and a reassessment of the likelihood of the Federal Reserve cutting rates in the first half of 2024. Market participants were also digesting the better-than-expected Q3 GDP, which was supported by a robust labor market and disinflation that fueled healthy consumer spending activity. Positive reactions to earnings news contributed to the market dynamics, along with a fear of missing out on potential gains during a seasonally strong period for stocks.

In the United States, the Dow closed at 35,430.42, showing a minimal increase of 13.44 points or 0.04%. The S&P 500 stood at 4,550.58, reflecting a decrease of 4.31 points or 0.09%, while the NASDAQ recorded 14,258.49, marking a decline of 23.27 points or 0.16%. The VIX, a measure of market volatility, reached 12.98, indicating a rise of 0.29 points or 2.29%. The Russell 2000 saw positive movement, closing at 1,803.81 with an increase of 11.00 points or 0.61%. In Canada, the S&P/TSX Composite gained 79.43 points or 0.40%, closing at 20,116.20, and the S&P/TSX 60 rose by 5.37 points or 0.45%, closing at 1,212.02. In Brazil, the BOVESPA declined by 372.68 points or 0.29%, closing at 126,165.64. The S&P IPSA in Chile increased by 16.22 points or 0.28%, reaching 5,792.78. The S&P/BMV IPC in Mexico recorded a gain of 433.81 points or 0.83%, closing at 52,792.81.

In Europe, the STOXX Europe 50 closed at 3,950.53, while the STOXX Europe 600 stood at 459.10. In the United Kingdom, the FTSE 250, FTSE 100, and Italy's FTSE MIB closed at 18,467.58, 7,423.46, and 29,688.45, respectively. The DAX in Germany increased by 173.78 points or 1.09%, closing at 16,166.45. The CAC 40 in France rose by 17.51 points or 0.24%, closing at 7,267.64, and Switzerland's SMI increased by 42.50 points or 0.39%, closing at 10,802.88.

In Asia, the Nikkei 225 in Japan closed at 33,321.22, while Hong Kong's Hang Seng and China's Shanghai Composite closed at 16,993.44 and 3,021.69, respectively. The Shenzhen Composite in China decreased by 89.06 points or 0.91%, closing at 9,744.39. Australia's S&P/ASX 200, South Korea's KOSPI, Taiwan's Taiwan SE, and India's Bombay Sensex reported closing at 7,035.30, 2,519.81, 17,370.56, and 66,901.91, respectively.

During the trading session on 29/11, notable indices in the Indian stock market reported the following data. The BSE MidCap index closed at 33,975.56, indicating a 0.78% increase and a gain of 264.41 points, with its high and low at 34,008.12 and 33,865.84. The BSE Sensex recorded a closing value of 66,901.91, reflecting a 1.10% increase and a gain of 727.71 points, fluctuating between its high of 66,946.28 and the low of 66,374.52. The BSE SmallCap index concluded at 39,989.57, showing a 0.40% increase and a gain of 157.91 points, ranging from its low of 39,932.31 to the high of 40,094.47 on 29/11. India VIX reported a closing value of 12.7075, with a high at 14.4600 and a low at 11.3325, representing a 4.37% increase and a gain of 0.5325 points on 29/11. Moreover, the NIFTY Midcap 100 index closed at 42,618.70, with its high and low points at 42,664.70 and 42,501.30, resulting in a 0.81% increase and a gain of 340.70 points. The NIFTY Smallcap 100 index wrapped up at 14,012.00, marking a 1.03% increase and a gain of 143.10 points, with its high and low points recorded at 14,036.30 and 13,901.95. The Nifty smallcap 50 index closed at 6,493.05, with a 1.14% increase and a gain of 72.95 points, fluctuating between its high of 6,507.05 and the low of 6,427.05. The Nifty 100 index concluded at 20,136.20, with a high of 20,144.60 and a low of 20,021.30, representing a 0.99% increase and a gain of 197.80 points on 29/11. Furthermore, the Nifty 200 index wrapped up at 10,846.45, indicating a 0.96% increase and a gain of 103.50 points, with its high at 10,850.95 and the low at 10,790.45. The Nifty 50 index ended at 20,096.60, recording a 1.04% increase and a gain of 206.90 points, with its high and low points reported at 20,104.65 and 19,956.30. The Nifty 50 USD index reported a closing value of 8,356.88, experiencing a 1.06% increase and a gain of 87.77 points. The Nifty 50 Value 20 index concluded at 10,720.65, indicating a 0.93% increase and a gain of 98.80 points. The Nifty 500 index wrapped up at 17,904.10, recording a 0.91% increase and a gain of 162.30 points. The Nifty Midcap 150 index closed at 15,838.85, with its high and low points at 15,853.90 and 15,808.45, resulting in a marginal 0.66% increase and a gain of 104.50 points. The Nifty Midcap 50 index ended at 12,113.80, marking a 0.68% increase and a gain of 82.20 points, with its high and low recorded at 12,123.00 and 12,069.60. The Nifty Next 50 index wrapped up at 47,487.50, showing a 0.69% increase and a gain of 325.55 points, with its high and low points at 47,556.40 and 47,414.20. The Nifty Smallcap 250 index concluded at 13,112.10, reporting a 0.75% increase and a gain of 98.20 points, fluctuating between its high of 13,133.60 and the low of 13,041.55. Additionally, S&P BSE ALLCAP concluded at 8,244.32, with a high of 8,248.77 and a low of 8,211.43, reflecting a 0.83% increase and a gain of 68.10 points. S&P BSE-100 ended at 20,646.34, with its high and low points at 20,657.85 and 20,528.18, indicating a 0.93% increase and a gain of 189.49 points. S&P BSE-200 finished at 8,869.34, indicating a 0.92% increase and a gain of 81.10 points, with its high at 8,874.34 and the low at 8,823.67. Lastly, S&P BSE-500 wrapped up at 28,305.34, recording a 0.88% increase and a gain of 247.57 points, with its high at 28,320.31 and the low at 28,177.37 on 29/11.

• Farfetch Ltd. Class A (FTCH) closed at 0.97, showing a decrease of 1.13, equivalent to a 53.74% change, with a trading volume of 187 million shares and a 52-week range between 0.92 and 8.90.
• Tesla, Inc. (TSLA) had a closing price of 244.14, reflecting a decrease of 2.58, a 1.05% change, traded with a volume of 135 million shares, and within a 52-week range of 101.81 to 299.29.
• RedHill Biopharma Ltd. Sponsored ADR (RDHL) ended at 2.88, marking an increase of 0.60, a 26.32% change, traded with a volume of 96 million shares, and within a 52-week range of 0.26 to 15.20.
• Ford Motor Company (F) closed at 10.59, showing a gain of 0.22, a 2.12% change, traded with a volume of 77 million shares, and within a 52-week range of 9.63 to 15.42.
• General Motors Company (GM) concluded at 31.60, indicating an increase of 2.71, a 9.38% change, traded with a volume of 76 million shares, and within a 52-week range of 26.30 to 43.63.
• Palantir Technologies Inc. Class A (PLTR) ended at 19.84, with a gain of 0.13, a 0.66% change, traded with a volume of 63 million shares, and within a 52-week range of 5.92 to 21.85.
• GameStop Corp. Class A (GME) closed at 16.25, reflecting an increase of 2.76, a 20.46% change, traded with a volume of 61 million shares, and within a 52-week range of 11.82 to 27.87.
• Bank of America Corp (BAC) concluded at 30.31, with a gain of 0.78, a 2.64% change, traded with a volume of 58 million shares, and within a 52-week range of 24.96 to 37.85.
• PG&E Corporation (PCG) closed at 17.17, showing a decrease of 0.33, a 1.89% change, traded with a volume of 54 million shares, and within a 52-week range of 14.71 to 18.19.
• Rivian Automotive, Inc. Class A (RIVN) ended at 17.32, with a slight decrease of 0.10, a 0.57% change, traded with a volume of 48 million shares, and within a 52-week range of 11.68 to 32.60.
• Vivos Therapeutics, Inc. (VVOS) concluded at 41.00, indicating an increase of 36.61, a significant 833.94% change, traded with a volume of 47 million shares, and within a 52-week range of 2.73 to 74.05.
• PROOF Acquisition Corp. I Class A (PACI) closed at 32.01, showing a gain of 19.12, a substantial 148.32% change, traded with a volume of 172 thousand shares, and within a 52-week range of 9.94 to 35.00.
• Yoshiharu Global Co. Class A (YOSH) ended at 9.25, with an increase of 4.46, a notable 93.11% change, traded with a volume of 5 million shares, and within a 52-week range of 2.96 to 25.89.
• Conduit Pharmaceuticals Inc. (CDT) concluded at 5.10, reflecting a gain of 2.15, a 72.88% change, traded with a volume of 2 million shares, and within a 52-week range of 0.95 to 25.00.
• vTv Therapeutics, Inc. Class A (VTVT) closed at 14.87, with a gain of 5.46, a 58.02% change, traded with a volume of 712 thousand shares, and within a 52-week range of 8.46 to 42.00.
• Jeffs' Brands Ltd. (JFBR) ended at 3.12, with an increase of 0.75, a 31.38% change, traded with a volume of 263 thousand shares, and within a 52-week range of 2.02 to 13.65.
• Sunlands Technology Group Sponsored ADR Class A (STG) concluded at 8.78, reflecting a gain of 2.08, a 31.04% change, traded with a volume of 22 thousand shares, and within a 52-week range of 2.97 to 15.40.
• Rover Group, Inc. Class A (ROVR) closed at 10.96, showing an increase of 2.46, a 28.94% change, traded with a volume of 35 million shares, and within a 52-week range of 3.38 to 11.10.
• Biomea Fusion Inc (BMEA) ended at 12.75, with a gain of 2.81, a 28.27% change, traded with a volume of 5 million shares, and within a 52-week range of 6.04 to 43.69.
• Motus GI Holdings, Inc. (MOTS) concluded at 5.42, indicating an increase of 1.15, a 26.81% change, traded with a volume of 98 thousand shares, and within a 52-week range of 3.29 to 23.40.
• BioVie Inc. Class A (BIVI) concluded at 1.96, showing a decrease of 3.03, a significant 60.72% change, traded with a volume of 9 million shares, and within a 52-week range of 1.50 to 14.38.
• Farfetch Ltd. Class A (FTCH) closed at 0.97, reflecting a decrease of 1.13, a 53.74% change, traded with a volume of 187 million shares, and within a 52-week range of 0.92 to 8.90.
• Seelos Therapeutics, Inc. (SEEL) ended at 1.25, indicating a decrease of 1.13, a 47.48% change, traded with a volume of 5 million shares, and within a 52-week range of 1.24 to 49.80.
• Eagle Pharmaceuticals, Inc. (EGRX) concluded at 5.68, with a decrease of 2.55, a 30.98% change, traded with a volume of 1 million shares, and within a 52-week range of 5.53 to 36.42.
• Petco Health & Wellness Company, Inc. Class A (WOOF) closed at 2.73, showing a decrease of 1.11, a 28.91% change, traded with a volume of 34 million shares, and within a 52-week range of 2.63 to 12.57.
• WeTrade Group Inc (WETG) ended at 3.69, indicating a decrease of 1.28, a 25.75% change, traded with a volume of 251 thousand shares, and within a 52-week range of 3.46 to 183.15.
• Journey Medical Corp. (DERM) concluded at 4.05, with a decrease of 1.35, a 25.00% change, traded with a volume of 713 thousand shares, and within a 52-week range of 1.02 to 5.75.
• Pogo Resources LLC (HNRA) closed at 2.82, showing a decrease of 0.82, a 22.53% change, traded with a volume of 3 million shares, and within a 52-week range of 1.36 to 13.93.
• MoneyHero Limited (MNY) ended at 3.25, indicating a decrease of 0.78, a 19.35% change, traded with a volume of 4 million shares, and within a 52-week range of 0.74 to 10.43.
• Apyx Medical Corporation (APYX) concluded at 2.42, showing a decrease of 0.55, an 18.52% change, traded with a volume of 214 thousand shares, and within a 52-week range of 1.41 to 7.97.

In the crypto market, the Nasdaq Crypto Index closed at 2,084.73, experiencing a decrease of 8.91 points or 0.43%. Bitcoin recorded a value of 37,818.00, showing a slight decrease of 1.00 point, while Ether stood at 2,030.20, reflecting a decrease of 19.10 points or 0.93%. Litecoin closed at 69.95, with a minor increase of 0.30 points or 0.43%, and XRP was at 0.61, showing a slight decrease of 0.35%. The data was last updated on November 29 at 6:12:30 PM ET.

In the currency market, the Euro to US Dollar exchange rate was 1.0973, reflecting a minimal increase of 0.01%. The British Pound to US Dollar rate was 1.2699, showing a slight increase of 0.05%. The US Dollar to Canadian Dollar rate was 1.3590, with a decrease of 0.02%. The US Dollar to Swiss Franc rate was 0.8735, indicating a decrease of 0.08%. The US Dollar to Japanese Yen rate was 146.8990, with a decrease of 0.26 points or 0.17%. The data was last updated on November 29 at 6:12:35 PM ET.

In the bonds and rates sector, the 3-Month Treasury yield was 5.237%, experiencing a decrease of 0.018%. The 2-Year Treasury yield was 4.672%, showing a decrease of 0.066%. The 5-Year Treasury yield was 4.240%, reflecting a decrease of 0.058%. The 10-Year Treasury yield was 4.263%, with a decrease of 0.081%. The 30-Year Treasury yield was 4.441%, showing a decrease of 0.077%.

In the financial markets, the Bloomberg Commodity Index (BCOMTR:IND) increased by 0.85 points, or 0.37%, reaching a value of 233.86, with a high of 233.94 and a low of 232.22. Similarly, the UBS Bloomberg CMCI (CMCITR:IND) rose by 5.70 points, or 0.37%, closing at 1,537.21, with a trading range between 1,537.98 and 1,526.46. The Reuters/Jefferies CRB Index (CRYTR:IND) experienced a gain of 2.06 points, or 0.66%, concluding at 313.29, fluctuating between 313.29 and 311.23. The Rogers International Commodity Index (RICIGLTR:IND) saw an increase of 22.09 points, or 0.59%, settling at 3,753.72, with a high and low of 3,755.76 and 3,715.93, respectively. The S&P GSCI (SPGSCITR:IND) surged by 31.02 points, or 0.89%, closing at 3,507.96, with a trading range of 3,510.08 to 3,454.20.

In the energy sector, WTI Crude Oil (CL1:COM) rose to $77.86 per barrel, an increase of 1.90%, or 1.45 points, with the contract set for January 2024. Brent Crude (CO1:COM) also experienced a gain, reaching $82.90 per barrel, up by 1.49%, or 1.22 points, with the contract for January 2024. RBOB Gasoline (XB1:COM) increased by 2.40%, or 5.36 points, settling at 228.36 USd/gal. for the December 2023 contract. On the other hand, Natural Gas (NG1:COM) declined by 1.16%, or 0.03 points, closing at $2.80 per MMBtu for the January 2024 contract. Heating Oil (HO1:COM) experienced a decrease of 0.64%, or 1.85 points, settling at 288.85 USd/gal. for the December 2023 contract.

Moving to precious and industrial metals, Gold (GC1:COM) on the Comex reached $2,067.10 per troy ounce, showing an increase of 0.33%, or 6.90 points, with the February 2024 contract. Gold Spot (XAUUSD:CUR) also experienced a slight increase, reaching $2,044.30 per troy ounce, with a change of 0.00%, or 0.06 points. Silver (SI1:COM) rose by 0.56%, or 0.14 points, settling at $25.44 per troy ounce for the March 2024 contract. Copper (HG1:COM) on the Comex declined by 0.36%, or 1.40 points, reaching 382.55 USd/lb. for the March 2024 contract. Platinum Spot (XPTUSD:CUR) remained unchanged at $934.69 per troy ounce.

In the agriculture sector, Corn (C 1:COM) on the CBOT increased by 0.48%, or 2.25 points, closing at 475.75 USd/bu. for the March 2024 contract. Wheat (W 1:COM) also saw a rise, increasing by 2.40%, or 13.75 points, reaching 585.75 USd/bu. for the March 2024 contract. Cocoa (CC1:COM) on the ICE rose by 1.71%, or 72.00 points, reaching $4,273.00 per metric ton for the March 2024 contract. Cotton #2 (CT1:COM) experienced a minimal change, decreasing by 0.01%, or 0.01 points, settling at 79.59 USd/lb. for the March 2024 contract. Live Cattle (LC1:COM) on the CME increased by 0.38%, or 0.65 points, reaching 173.48 USd/lb. for the February 2024 contract.

On Thursday, November 30, 2023, a series of significant economic indicators will be released. Among them, the Personal Income and Outlays report will provide insights into Personal Consumption Expenditures (PCE) on both a monthly and yearly basis, along with data on Personal Income and PCE Price Index. Another high-impact release is the Jobless Claims report, offering information on Initial Claims, 4-Week Moving Average, and Initial Claims Level. Additionally, the Chicago Purchasing Managers' Index (PMI) will be disclosed at 9:45 AM EST, followed by the Pending Home Sales Index at 10:00 AM EST, reporting on month-over-month changes. The Energy Information Administration (EIA) will release the Natural Gas Report at 10:30 AM EST, providing insights into weekly natural gas inventories. Lastly, the day will conclude with the Farm Prices report at 3:00 PM EST, offering data on year-over-year and month-over-month changes in farm prices.

Equity Market:

• Near-term consolidation or a slight correction in the equity market as the strong rally takes a breather.
• Small-caps have outperformed, indicating renewed confidence in the economic outlook.
• Positive sentiment supported by the revision to the third-quarter U.S. GDP, showing 5.2% growth.

Bond Market:

• Ongoing rally in the bond market, with Government of Canada bond yields below 3.6% and U.S. Treasury yields dipping below 4.3%.
• Growing view that the Federal Reserve's next move in 2024 could be a rate cut.
• Caution advised, as the market may be overly optimistic about the timeline for a Fed rate cut.

Sector Performance:

• November sector gainers include technology, consumer discretionary, real estate, and communication services, all up more than 10%.
• Energy is the only sector in the red for the month, with defensives logging the smallest gains.
• Year-to-date, technology and communication services stocks lead with gains of more than 50%, while defensive sectors lag.

Overall Market Outlook:

• Investors might observe a period of consolidation in the equity market, influenced by the breather in the equity rally.
• The bond market's reaction suggests a cautious outlook on the Fed's rate-cut timeline.
• Continued attention to evolving economic and interest-rate dynamics to navigate market uncertainties.

Previous update:

During today's trading session, the major indices showed minimal deviation from their opening levels, a circumstance that holds significance given the substantial gains observed since late October. This lack of notable change can be perceived as a win for the bulls or, conversely, a setback for those anticipating a more significant pullback, whether due to short positions or an inclination to buy during market weakness. A noteworthy factor influencing the day's proceedings came from Fed Governor Waller, a member of the Federal Open Market Committee (FOMC), who acknowledged the possibility of lowering the policy rate if inflation continues to decline over the next few months. Waller emphasized that should inflation persist in its downward trend, there is no justification for maintaining elevated interest rates.

These comments, relayed around mid-morning, propelled the indices to their highest levels of the day. However, this surge in buying interest gradually waned, indicative of some buyer exhaustion after the considerable upward momentum from late October. In contrast, Fed Governor Bowman, also an FOMC voter, introduced a counterpoint to the rate-cut enthusiasm during her speech today. She expressed willingness to support rate hikes if data indicate a stall in inflation progress or insufficient measures to bring inflation back to the 2% target. Despite Bowman's perspective, the fed funds futures market seemed to place greater emphasis on Waller's remarks, with the probability of a 25 basis points rate cut at the May 2024 FOMC meeting increasing from 52.9% to 64.3%. The 2-year note yield, sensitive to changes in the fed funds rate, responded similarly, notably declining by 14 basis points to 4.73%, while the 10-year note yield fell by five basis points to 4.34%.

The decline in interest rates provided support for stocks, though the market lacked a clear leadership direction. Advancers slightly outpaced decliners at the NYSE, while the reverse held true at the Nasdaq. Notable sector performances included gains in the real estate (+0.5%) and consumer discretionary (+0.5%) sectors, while the health care sector experienced a decline of 0.5%. Within individual stocks, notable movements were witnessed, such as Pinduoduo (PDD) reporting significant earnings and Tesla (TSLA) clearing resistance at its 50-day moving average ahead of its Cybertruck delivery event on Thursday. Summarizing the market performance, the Nasdaq Composite rose by 36.5%, the S&P 500 by 18.6%, the Dow Jones Industrial Average by 6.8%, the S&P Midcap 400 by 4.5%, and the Russell 2000 by 1.8%. On the economic front, the Conference Board's Consumer Confidence Index for November exceeded expectations, registering at 102.0 (consensus 100.0), up from a downwardly revised 99.1 in October. The report indicated improved confidence in future business conditions, job availability, and incomes for the next six months, supporting the market's prevailing soft landing outlook.

Additionally, the September FHFA Housing Price Index showed a 0.6% month-over-month increase, following an upwardly revised 0.7% gain in August. The September S&P Case-Shiller Home Price Index reflected a 3.9% month-over-month increase (consensus 4.1%), following a downwardly revised 2.1% gain in August. In the broader market, strong sectors included utilities, consumer staples, materials, consumer discretionary, real estate, communication services, and information technology. Conversely, weakness was observed in health care, industrials, and real estate. Market movements were also influenced by the anticipation of earnings reports after the close from companies like CRWD, INTU, NTAP, HPE, and WDAY.

The current market trends depict various movements in key indices. In the United States, the Dow is positioned at 35,416.98, indicating a positive change of 83.51 points, equivalent to a 0.24% increase. The S&P 500 stands at 4,554.89, with a minor positive shift of 4.46 points or 0.10%. Similarly, the NASDAQ exhibits a positive trajectory at 14,281.76, reflecting a change of 40.73 points or 0.29%. The Volatility Index (VIX) in the United States reports a value of 12.65, showcasing a marginal decrease of 0.04 points or 0.32%. On the other hand, the Russell 2000 in the United States has a current value of 1,792.81, experiencing a decline of 8.35 points or 0.46%. In Canada, the S&P/TSX Composite is positioned at 20,036.77, indicating a slight positive shift of 4.11 points, equivalent to a 0.02% increase. The S&P/TSX 60 in Canada remains relatively stable at 1,206.65 with no significant change. Across other regions, Brazil's BOVESPA is at 126,536.95, reflecting an increase of 805.50 points or 0.64%. In Chile, the S&P IPSA stands at 5,776.56, experiencing a positive shift of 19.14 points or 0.33%. Mexico's S&P/BMV IPC reports a value of 52,328.96, indicating a positive change of 108.47 points or 0.21%. These movements in global indices highlight the dynamic nature of the current market landscape.

The prevailing market indicators in European regions showcase distinctive movements in key indices. In Europe, the STOXX Europe 50 is currently positioned at 3,943.07, reflecting a decrease of 18.73 points or 0.47%. The STOXX Europe 600 stands at 457.04, experiencing a decline of 1.37 points or 0.30%. In the United Kingdom, the FTSE 250 exhibits a value of 18,387.00, indicating a decrease of 51.55 points or 0.28%. Concurrently, the FTSE 100 in the United Kingdom is at 7,455.24, with a minor decline of 5.46 points or 0.07%. In Germany, the DAX reports a value of 15,992.67, showcasing a positive change of 26.30 points or 0.16%. Italy's FTSE MIB is at 29,376.74, reflecting an increase of 34.45 points or 0.12%. France's CAC 40 stands at 7,250.13, experiencing a decrease of 15.36 points or 0.21%. Additionally, in Switzerland, the SMI is currently at 10,760.38, showing a decline of 60.68 points or 0.56%. These fluctuations in European indices depict the varied dynamics within the regional market landscape.

The current state of Asian markets reveals notable movements in key indices. In Japan, the Nikkei 225 is presently positioned at 33,408.39, indicating a decrease of 39.28 points or 0.12%. Hong Kong's Hang Seng stands at 17,354.14, experiencing a decline of 170.92 points or 0.98%. China's Shanghai Composite is at 3,038.55, reflecting a modest increase of 6.85 points or 0.23%. Simultaneously, the Shenzhen Composite in China reports a value of 9,833.46, showcasing an increase of 47.89 points or 0.49%. Australia's S&P/ASX 200 is currently at 7,015.20. South Korea's KOSPI stands at 2,521.76, indicating a positive change of 26.10 points or 1.05%. In Taiwan, the Taiwan SE reports a value of 17,341.25, experiencing a notable increase of 203.83 points or 1.19%. Lastly, India's Bombay Sensex is positioned at 66,174.20, reflecting an increase of 204.16 points or 0.31%. These diverse movements in Asian indices portray the dynamic nature of the regional market landscape.

In the recent trading session, various key indices in the Indian stock market reported the following data. The BSE MidCap index closed at 33,711.15, registering a 0.30% increase and a gain of 100.76 points, with its high and low points at 33,732.71 and 33,577.37 on 28/11. Similarly, the BSE Sensex recorded a closing value of 66,174.20, reflecting a 0.31% increase and a gain of 204.16 points, fluctuating between its high of 66,256.20 and the low of 65,906.65. The BSE SmallCap index concluded at 39,831.66, indicating a 0.06% increase and a gain of 24.37 points, ranging from its low of 39,810.05 to the high of 40,069.26 on 28/11. India VIX reported a closing value of 12.1750, with a high at 12.4925 and a low at 11.0650, representing a 7.46% increase and a gain of 0.8450 points on 28/11. Moreover, the NIFTY Midcap 100 index closed at 42,278.00, with its high and low points at 42,299.75 and 42,077.60, resulting in a 0.54% increase and a gain of 227.55 points. The NIFTY Smallcap 100 index wrapped up at 13,868.90, marking a 0.30% increase and a gain of 41.40 points, with its high and low points recorded at 13,946.00 and 13,838.80. The Nifty smallcap 50 index closed at 6,420.10, with a 0.25% decrease and a loss of 15.95 points, fluctuating between its high of 6,486.10 and the low of 6,414.80. The Nifty 100 index concluded at 19,938.40, with a high of 19,964.95 and a low of 19,832.50, representing a 0.64% increase and a gain of 126.30 points on 28/11. Furthermore, the Nifty 200 index wrapped up at 10,742.95, indicating a 0.62% increase and a gain of 66.45 points, with its high at 10,755.35 and the low at 10,689.00. The Nifty 50 index ended at 19,889.70, recording a 0.48% increase and a gain of 95.00 points, with its high and low points reported at 19,916.85 and 19,800.00. The Nifty 50 USD index reported a closing value of 8,269.11, experiencing a 0.52% increase and a gain of 42.97 points. The Nifty 50 Value 20 index concluded at 10,621.85, indicating a 0.56% increase and a gain of 59.00 points. The Nifty 500 index wrapped up at 17,741.80, recording a 0.56% increase and a gain of 98.30 points. The Nifty Midcap 150 index closed at 15,734.35, with its high and low points at 15,745.55 and 15,680.75, resulting in a marginal 0.39% increase and a gain of 60.85 points. The Nifty Midcap 50 index ended at 12,031.60, marking a 0.64% increase and a gain of 76.35 points, with its high and low recorded at 12,041.00 and 11,957.70. The Nifty Next 50 index wrapped up at 47,161.95, showing a 1.19% increase and a gain of 554.20 points, with its high and low points at 47,216.25 and 46,718.60. The Nifty Smallcap 250 index concluded at 13,013.90, reporting a 0.22% increase and a gain of 28.95 points, fluctuating between its high of 13,080.50 and the low of 13,001.40. Additionally, S&P BSE ALLCAP concluded at 8,176.22, with a high of 8,183.29 and a low of 8,143.51, reflecting a 0.53% increase and a gain of 43.25 points. S&P BSE-100 ended at 20,456.85, with its high and low points at 20,480.08 and 20,357.91, indicating a 0.54% increase and a gain of 110.83 points. S&P BSE-200 finished at 8,788.24, indicating a 0.62% increase and a gain of 54.32 points, with its high at 8,797.23 and the low at 8,744.15. Lastly, S&P BSE-500 wrapped up at 28,057.77, recording a 0.55% increase and a gain of 154.11 points, with its high at 28,083.77 and the low at 27,937.58 on 28/11.

• Tesla, Inc. (TSLA) closed at $246.72, with a change of +$10.64, representing a 4.51% increase, and a trading volume of 147 million shares, within a 52-week range of $101.81 to $299.29.
• Marathon Digital Holdings Inc (MARA) concluded at $12.38, showing a positive change of +$1.10, or 9.75%, with a trading volume of 62 million shares and a 52-week range of $3.11 to $19.88.
• Palantir Technologies Inc. Class A (PLTR) finished at $19.71, indicating a change of +$0.63 or 3.30%, and a trading volume of 53 million shares, with a 52-week range between $5.92 and $21.85.
• NIO Inc. Sponsored ADR Class A (NIO) ended at $7.21, experiencing a slight change of +$0.02, equivalent to 0.28%, with a trading volume of 47 million shares and a 52-week range of $7.00 to $16.18.
• Affirm Holdings, Inc. Class A (AFRM) reached $32.75, displaying a positive change of +$3.38, or 11.51%, and a trading volume of 44 million shares, with a 52-week range of $8.62 to $33.05.
• Plug Power Inc. (PLUG) closed at $3.84, showing a notable change of +$0.42 or 12.28%, with a trading volume of 43 million shares and a 52-week range from $3.22 to $18.88.
• Amazon.com, Inc. (AMZN) concluded at $147.03, with a change of -$0.70, representing a 0.47% decrease, and a trading volume of 41 million shares, within a 52-week range of $81.43 to $149.26.
• NVIDIA Corporation (NVDA) ended at $478.21, displaying a change of -$4.21 or 0.87%, with a trading volume of 39 million shares and a 52-week range between $138.84 and $505.48.
• Lucid Group, Inc. (LCID) reached $4.40, showing a positive change of +$0.21 or 5.01%, and a trading volume of 39 million shares, with a 52-week range of $3.62 to $17.81.
• Ford Motor Company (F) closed at $10.37, with a slight change of +$0.03, or 0.29%, and a trading volume of 38 million shares, within a 52-week range from $9.63 to $15.42.
• Carbon Revolution Public Limited Company (CREV) closed at $38.50, showing a significant change of +$12.72, equivalent to a 49.34% increase. The trading volume was 87,000 shares, and the 52-week range spans from $6.30 to $197.99.
• Scully Royalty Ltd. (SRL) concluded at $6.38, displaying a positive change of +$1.83, or 40.19%, with a trading volume of 91,000 shares and a 52-week range between $3.71 and $8.90.
• Conduit Pharmaceuticals Inc. (CDT) finished at $2.95, indicating a change of +$0.67 or 29.39%, and a trading volume of 198,000 shares. The 52-week range for CDT is $0.95 to $25.00.
• REE Automotive Ltd. Class A (REE) ended at $7.16, showing a notable change of +$1.61 or 29.01%, with a trading volume of 233,000 shares. The 52-week range for REE is $2.30 to $20.10.
• Monogram Orthopaedics Inc (MGRM) reached $3.92, exhibiting a positive change of +$0.85 or 27.69%, and a trading volume of 246,000 shares, with a 52-week range of $2.46 to $48.99.
• Intensity Therapeutics, Inc. (INTS) closed at $2.85, with a change of +$0.58 or 25.55%, and a trading volume of 8,000 shares. The 52-week range for INTS is $2.01 to $6.75.
• MoneyHero Limited (MNY) concluded at $4.03, displaying a positive change of +$0.81 or 25.16%, with a trading volume of 8 million shares, and a 52-week range between $0.74 and $10.43.
• Yoshiharu Global Co. Class A (YOSH) reached $4.79, showing a positive change of +$0.89 or 22.82%, and a trading volume of 218,000 shares, with a 52-week range of $2.96 to $25.89.
• Spyre Therapeutics, Inc (SYRE) closed at $14.50, exhibiting a change of +$2.49 or 20.73%, with a trading volume of 116,000 shares, and a 52-week range between $2.66 and $32.75.
• Xiao-I Corp. ADR (AIXI) concluded at $2.64, displaying a positive change of +$0.42 or 18.92%, with a trading volume of 239,000 shares. The 52-week range for AIXI is $1.40 to $10.39.
• Tharimmune, Inc. (THAR) closed at $0.95, reflecting a change of -$2.56 or 72.93%, with a trading volume of 9 million shares. The 52-week range for THAR spans from $0.92 to $66.25.
• Acelyrin, Inc. (SLRN) concluded at $5.97, showing a change of -$2.72 or 31.32%, and a trading volume of 5 million shares. The 52-week range for SLRN is between $5.77 and $29.88.
• Biodexa Pharmaceuticals plc Sponsored ADR (BDRX) ended at $3.54, indicating a change of -$1.58 or 30.82%, with a trading volume of 2 million shares. The 52-week range for BDRX is $2.26 to $579.20.
• Cabaletta Bio, Inc. (CABA) closed at $13.09, exhibiting a change of -$5.61 or 30.03%, and a trading volume of 14 million shares. The 52-week range for CABA is $3.44 to $19.34.
• Seelos Therapeutics, Inc. (SEEL) reached $2.27, showing a change of -$0.92 or 28.82%, with a trading volume of 1 million shares. The 52-week range for SEEL is $2.23 to $49.80.
• Arena Group Holdings, Inc. (AREN) concluded at $1.93, displaying a change of -$0.73 or 27.53%, with a trading volume of 110,000 shares. The 52-week range for AREN is between $1.81 and $16.50.
• MicroAlgo, Inc. (MLGO) closed at $3.81, showing a change of -$1.43 or 27.19%, with a trading volume of 384,000 shares. The 52-week range for MLGO is $1.12 to $71.50.
• U Power Limited (UCAR) reached $1.64, indicating a change of -$0.39 or 19.21%, and a trading volume of 409,000 shares. The 52-week range for UCAR is $1.63 to $75.00.
• Perma-Fix Environmental Services, Inc. (PESI) closed at $6.85, exhibiting a change of -$1.56 or 18.55%, with a trading volume of 408,000 shares. The 52-week range for PESI is between $3.20 and $13.87.
• INVO Bioscience, Inc. (INVO) concluded at $1.72, showing a change of -$0.36 or 17.31%, with a trading volume of 799,000 shares. The 52-week range for INVO is $0.50 to $20.40.

In the cryptocurrency market, the Nasdaq Crypto Index showed a positive trend, gaining 45.58 points or 2.21%, closing at 2,105.97. Bitcoin experienced a notable increase of 2.43%, reaching a price of 38,134.00, while Ether rose by 1.72%, reaching 2,062.40. Litecoin and XRP also saw gains, with increases of 1.26% and 1.35%, closing at 70.03 and 0.61, respectively. These cryptocurrency values were last updated on November 28 at 4:31:00 PM ET.

In the currency market, the Euro/US Dollar pair exhibited a positive change of 0.32%, closing at 1.0990. The British Pound/US Dollar pair increased by 0.57%, reaching 1.2696, while the US Dollar/Canadian Dollar pair experienced a 0.32% change, closing at 1.3578. The US Dollar/Swiss Franc pair showed a 0.23% change, ending at 0.8784, and the US Dollar/Japanese Yen pair exhibited a 0.75% change, closing at 147.5025. These currency rates were last updated on November 28 at 4:30:51 PM ET.

In the bonds and rates segment, various Treasury yields underwent changes. The 3 Month Treasury yield was recorded at 5.255%, with a change of -0.007. The 2 Year Treasury yield decreased by 0.134, closing at 4.743%. The 5 Year Treasury yield experienced a change of -0.109, reaching 4.300%. Similarly, the 10 Year Treasury yield decreased by 0.048, closing at 4.335%, and the 30 Year Treasury yield showed a change of -0.010, ending at 4.514%. These bond and rate values provide insights into the current dynamics of the financial markets.

In the commodities market, the Bloomberg Commodity Index (BCOMTR:IND) rose to 233.01, reflecting a change of +2.33 or +1.01%, with the highest point at 233.88 and the lowest at 230.67. The UBS Bloomberg CMCI (CMCITR:IND) reached 1,531.52, showing a change of +16.77 or +1.11%, reaching a high of 1,531.70 and a low of 1,514.56. The Reuters/Jefferies CRB (CRYTR:IND) increased to 311.23, with a change of +3.68 or +1.20%, having a high of 311.23 and a low of 307.55. The Rogers International (RICIGLTR:IND) index concluded at 3,730.24, displaying a change of +39.68 or +1.08%, with the highest point at 3,743.57 and the lowest at 3,690.14. Meanwhile, the S&P GSCI (SPGSCITR:IND) experienced a decrease to 3,422.02, with a change of -28.40 or -0.82%, having reached a high of 3,457.10 and a low of 3,412.23 on November 27, 2023.

Moving on to energy commodities, WTI Crude Oil (CL1:COM) rose to $76.33 per barrel, indicating a change of +1.47 or +1.96%, with the contract set for January 2024. Brent Crude (CO1:COM) increased to $81.52 per barrel, showing a change of +1.54 or +1.93%, also with a January 2024 contract. RBOB Gasoline (XB1:COM) saw an uptick to 222.97 US cents per gallon, reflecting a change of +4.98 or +2.28%, with the contract set for December 2023. Natural Gas (NG1:COM) declined to $2.71 per MMBtu, showing a change of -0.09 or -3.15%, with the contract set for December 2023. Heating Oil (HO1:COM) rose to 289.20 US cents per gallon, indicating a change of +5.41 or +1.91%, with the contract set for December 2023.

In the precious and industrial metals category, Gold (GC1:COM) on Comex increased to $2,061.60 per troy ounce, reflecting a change of +28.60 or +1.41%, with the contract set for February 2024. Gold Spot (XAUUSD:CUR) rose to $2,040.27 per troy ounce, showing a change of +26.14 or +1.30%. Silver (SI1:COM) on Comex increased to $25.42 per troy ounce, indicating a change of +0.38 or +1.53%, with the contract set for March 2024. Copper (HG1:COM) on Comex rose to 384.35 US cents per pound, reflecting a change of +4.35 or +1.14%, with the contract set for March 2024. Platinum Spot (XPTUSD:CUR) rose to $944.06 per troy ounce, showing a change of +22.17 or +2.40%.

In the agriculture sector, Corn (C 1:COM) on CBOT declined to 473.75 US cents per bushel, reflecting a change of -1.50 or -0.32%, with the contract set for March 2024. Wheat (W 1:COM) on CBOT increased to 573.25 US cents per bushel, indicating a change of +12.25 or +2.18%, with the contract set for March 2024. Cocoa (CC1:COM) on ICE rose to $4,201.00 per metric ton, showing a change of +71.00 or +1.72%, with the contract set for March 2024. Cotton #2 (CT1:COM) on ICE increased to 79.60 US cents per pound, reflecting a change of +0.34 or +0.43%, with the contract set for March 2024. Live Cattle (LC1:COM) on CME rose to 173.00 US cents per pound, indicating a change of +4.18 or +2.47%, with the contract set for February 2024.

On Wednesday, November 29, 2023, a series of economic indicators will be released, providing insights into various aspects of the economy. Starting at 7:00 AM EST, the MBA Mortgage Applications data will be disclosed, encompassing the Purchase Index, Refinance Index, and Composite Index on a week-over-week basis, with a low expected impact. Subsequently, at 8:30 AM EST, the Wholesale Inventories (Advance) for the month over month will be revealed, with a projected low impact. Concurrently, the GDP figures for the quarter-over-quarter annual rate and Personal Consumption Expenditures' annual rate will be released, carrying a high impact. This will be followed by the Retail Inventories (Advance) month-over-month data, expected to have a low impact.

At the same time, the International Trade in Goods (Advance) statistics, including Balance, Exports month-over-month, and Imports month-over-month, will be unveiled, holding a high anticipated impact. Additionally, the Corporate Profits data, featuring Year-over-Year figures with inventory and consumption adjustments and After-Tax Year-over-Year, is scheduled for release, with a low expected impact.

Later in the morning, at 10:30 AM EST, the EIA Petroleum Status Report will provide information on Crude Oil Inventories, Gasoline Inventories, and Distillate Inventories on a week-over-week basis, carrying a high impact. Finally, at 11:00 AM EST, the Survey of Business Uncertainty will disclose Employment Growth and Sales Growth, both expected to have a low impact on the economic landscape. These releases collectively offer a comprehensive view of various economic facets, aiding in understanding the current state and potential trajectory of the economy.

• Current Market Trends: The TSX and S&P 500 are moving modestly lower, and Bank of Nova Scotia reported revenues exceeding expectations but missed earnings due to a larger-than-expected build in provisions for credit losses. U.S. consumer confidence will be reported later in the morning, and Federal Reserve officials are scheduled to give speeches on the U.S. economy and monetary policy. Yields are relatively unchanged, with the 10-year Canadian government bond yield at around 3.65%, and the 10-year U.S. Treasury yield hovering around 4.4%.Oil is rebounding, rising to over $75 per barrel.
• Upcoming Inflation Data: The October U.S. PCE inflation reading is anticipated on Thursday, with a focus on the core PCE number, the Fed's preferred measure of inflation. Expectations are for the core PCE to decline from a 3.7% year-over-year rise in September to 3.5%. If realized, it would fall below the Fed's 2023 year-end estimate. The S&P/Case-Shiller 20-City Home Price Index rose by 3.9% year-over-year in September, reflecting an uptick but well below the highs seen in 2022.
• November Stock Market Rally: The S&P 500 is on track to post a gain of over 8% in November, and the TSX is up about 6%.The rally has been supported by favorable U.S. and Canadian CPI inflation readings and a pullback in bond yields. Leadership has broadened, with various sectors performing well, including real estate, financials, industrials, information technology, consumer discretionary, and communication services. Historical data suggests that December has been a historically strong month for stock-market performance, with positive returns 75% of the time since 1945, and average returns of 1.6%.

Forecasts:

• The November rally may continue into year-end, supported by positive economic factors and historical seasonality.
• Inflation data will be closely monitored, and a decline in core PCE as anticipated could impact market sentiment.
• The resilience of certain sectors, including technology and cyclical sectors, contributes to the overall positive outlook.
• While market trends are subject to change, historical patterns suggest a potential optimistic scenario as December approaches.