The Market Brief
Hey team. The strong momentum from Friday’s close continued through the overnight session, with the market building on those gains.
Let’s outline the key factors we'll be focusing on for the week ahead.
Impact Snapshot
US bond markets are closed for the Veteran’s Day holiday.
Macro Viewpoint
U.S. stock index futures climbed on Monday, building on gains made since the election, as investors anticipated the upcoming economic data that could determine the sustainability of the equity rally.
Major indexes surged in the previous week as Trump reclaimed the White House, with the benchmark S&P 500achieving its strongest weekly performance in a year and surpassing the 6,000 mark on Friday.
Stocks are ending the year on a strong note, with the benchmark index up 25% year-to-date, driven by AI optimism and the onset of Federal Reserve rate cuts, which have bolstered market sentiment.
Last week, the Federal Reserve reduced interest rates by 25 basis points as anticipated, and investors now estimate a 68.5% likelihood of a similar cut at the December meeting.
