“`html
The S&P 500 Index is up by +0.32% today, reaching a 5-week high, while the Nasdaq 100 is up +0.48% for a 1-month high. The Dow Jones Industrial Index increased by +0.34%, hitting a 3-week high. Optimism regarding the economic outlook and projections for Federal Reserve rate cuts are driving the market, supported by a +0.3% rise in September personal spending and a +0.4% increase in personal income.
The University of Michigan’s US December consumer sentiment index rose by +2.3 to 53.3, and inflation expectations for the next year decreased to 4.1%, better than expected. Currently, the market is anticipating a 95% chance of a -25 basis point rate cut at the Federal Open Market Committee meeting on December 9-10.
In Q3 corporate earnings, 83% of the 475 S&P companies that reported exceeded forecasts, with a total earnings increase of +14.6%, outperforming an anticipated +7.2%. The Euro Stoxx 50 is up +0.40%, while overseas markets are mixed, reflecting varying global economic sentiments.
“`
