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On Monday, the S&P 500 Index closed down by 0.53%, the Dow Jones by 0.90%, and the Nasdaq 100 by 0.36%. The 10-year T-note yield rose by 8 basis points to 4.09%, attributed to rising Japanese bond yields. Bitcoin fell over 5% to a one-week low, further impacting market sentiment.
The Nov ISM manufacturing index decreased to 48.2, marking a 14-month low, contrary to expectations of an increase. In China, the Nov manufacturing PMI rose to 49.2, below the expected 49.4. Additionally, Macau’s Nov gaming revenue increased by 14.4% year-over-year, positively affecting casino stocks.
Of the S&P 500 companies that have reported Q3 earnings, 83% exceeded expectations, with a total earnings growth of 14.6%, surpassing forecasts of 7.2% year-over-year.
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