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The S&P 500 Index is up 0.20%, the Dow Jones Industrial Average is up 0.37%, and the Nasdaq 100 is up 0.47% on December 5, 2023. December E-mini S&P futures rose 0.25%, while December E-mini Nasdaq futures increased by 0.49%. This growth is attributed to optimism regarding the economic outlook and prospects for Federal Reserve rate cuts.
As of this week, market analysts project a 95% chance of a 25 basis point rate cut at the next Federal Open Market Committee meeting. Sept personal spending and personal income are both expected to rise by 0.3% month-over-month. In Q3, 83% of S&P 500 companies exceeded earnings forecasts, with a reported 14.6% increase in earnings compared to predictions of 7.2%.
Overseas markets displayed mixed results, with the Euro Stoxx 50 up 0.35% and China’s Shanghai Composite up 0.70%. In contrast, Japan’s Nikkei 225 fell 1.05%. U.S. Treasury yields are rising, with the 10-year T-note yield reaching a two-week high of 4.12% amid increased inflation expectations.
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