US PCE Price Index

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Key events: USA - Thanksgiving Day The S&P 500 experienced a modest decline on Wednesday, with cautious trading dominating the day ahead of the Thanksgiving holiday. A mix of economic reports and subdued investor sentiment added weight to the major indices. The Dow Jones Industrial Average fell by 138 points (0.3%), while the S&P 500 slipped 0.4%, and the NASDAQ Composite dropped 0.6%.

Key events: USA - CB Consumer Confidence (Nov) USA - New Home Sales (Oct) USA - FOMC Meeting Minutes On Monday, the Dow Jones Industrial Average soared 440 points, or 1%, to close at a record high of 44,736.57. This milestone marked a strong start to the week, bolstered by President-elect Donald Trump’s announcement of Scott Bessent as the nominee for Treasury Secretary. The S&P 500 and NASDAQ Composite also posted gains of 0.3%, reflecting broad market optimism.

Key events: China - Manufacturing PMI (Sep) UK - GDP (QoQ) (Q2) UK - GDP (YoY) (Q2) USA - Chicago PMI (Sep) USA - Fed Chair Powell Speaks On Friday, the Dow Jones Industrial Average reached record highs, closing with a gain of 137 points (0.3%) at 42,313.00. Energy stocks surged, and signs of faster-than-expected cooling inflation buoyed investor sentiment. In contrast, the S&P 500 dipped by 0.2%, and the Nasdaq Composite, heavily concentrated with tech stocks, fell 0.4%.

Key events: Switzerland - SNB Interest Rate Decision (Q3) USA - Durable Goods Orders (MoM) (Aug) USA - GDP (QoQ) (Q2) USA - Initial Jobless Claims USA - Fed Chair Powell Speaks  The S&P 500 dipped on Wednesday as investors took a breather from the recent rally, awaiting key economic catalysts such as important inflation data expected later this week.

Key events: USA - Labor Day Eurozone - HCOB Eurozone Manufacturing PMI (Aug) UK - S&P Global/CIPS UK Manufacturing PMI (Aug)  The S&P 500 ended higher on Friday, wrapping up August with its fourth consecutive monthly gain, as fading economic concerns fueled a strong rebound in stocks following an earlier selloff.

Key events: USA - Core PCE Price Index (MoM) (Jun) The S&P 500 closed lower on Thursday, giving up earlier gains as a slump in Alphabet led to a halt in the tech sector's rebound. This occurred despite growing optimism that the Federal Reserve might deliver multiple rate cuts this year. The Dow Jones Industrial Average rose 81 points, or 0.20%, while the S&P 500 fell 0.5%, and the NASDAQ Composite slipped 0.9%.

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