On November 22, 2024, European stock markets are anticipated to open mildly positive following a favorable close on Wall Street, where the Dow Jones increased by 1.1% to 43,870.35 and the Nasdaq edged up 0.03% to 18,972.42. This uptick in the U.S. markets comes after a period of volatility triggered by Donald Trump's reelection, which initially caused global stocks to decline. The Dow had previously closed lower after substantial gains, with concerns over inflation and interest rates lingering as Treasury yields rose to 4.432%. [2b860847][38136f8e]
European markets also closed positively on November 21, with the FTSE 100 up 0.79%, the DAX up 0.74%, and the Stoxx-50 rising by 0.59%. Current European stock futures indicate a positive sentiment, with DAX Futures flat and CAC 40 Futures up 0.06%. [3c291641]
In Asia, markets showed gains as well, with Japan's Nikkei 225 up 0.87% and Australia's S&P ASX 200 up 0.85%. This trend reflects a broader recovery in global markets, as investors react to recent economic data and corporate earnings reports. [3c291641]
The Dollar Index reached a one-year high at 107.17, while gold prices rose to $2,687.60, indicating shifts in investor sentiment and potential hedging against inflation. Major data releases for the day include U.K. Retail Sales and PMI readings from Germany and France, which could further influence market movements. [3c291641]
Back in the U.S., Nvidia (NVDA) reported better-than-expected Q3 earnings, although it faced concerns regarding slowing revenue growth. Alphabet (GOOGL) shares fell due to the Department of Justice's request for a forced sale of Chrome, highlighting ongoing regulatory pressures in the tech sector. [2b860847]
Despite the recent market fluctuations, analysts remain cautiously optimistic about consumer strength, which may help support the stock market moving forward. Stephanie Link, chief investment strategist at Hightower Advisors, noted strong consumer sentiment and spending, which could counterbalance the fading 'Trump bump' effect. [5d756c2b]
