On Monday (November 25), all three major U.S. stock indices rose, with the Dow Jones and S&P 500 indices hitting new record highs during the session. As the Thanksgiving holiday approaches, the trading days this week are shortened, and the market expects trading to become quieter. By the close, the Dow Jones rose 440.06 points, or 0.99%, to 44,736.57 points; the S&P 500 index rose 18.03 points, or 0.30%, to 5,987.37 points; the Nasdaq gained 51.18 points, or 0.27%, to 19,054.84 points.
The market performance was notably mixed. In the technology sector, Tesla (TSLA.US) fell 3.9%, Nvidia (NVDA.US) dropped 4.1%, and MicroStrategy (MSTR.US) declined 4.3%. In contrast, Chinese concept stocks showed strong performance, with the NASDAQ Golden Dragon China Index closing up by 0.4%, including iQIYI (IQ.US) soaring over 6% and Alibaba (BABA.US) rising almost 3%.
European stocks rise moderately with regional discrepancies
In the European market, major stock indices generally closed higher. Germany’s DAX 30 index rose 121.26 points, or 0.63%, to 19,427.05 points; the UK's FTSE 100 index increased by 0.33% to 8,289.45 points; France's CAC 40 index edged up 0.03% to 7,257.47 points; the Euro Stoxx 50 index gained 0.21% to 4,799.35 points. Spain’s IBEX 35 index performed strongly, rising by 0.57%, whereas Italy’s FTSE MIB index fell by 0.24% against the trend.
The market remains cautious about the economic outlook for Europe, with investors focusing on the upcoming Eurozone economic data and the European Central Bank's meeting minutes. Analysts point out that with the Eurozone PMI falling short of expectations, European stock markets may face more volatility.
Asia-Pacific stock markets broadly rise, driven by economic recovery expectations boosting risk appetite
The Asia-Pacific market performed strongly, with most indices continuing to rise. Japan’s Nikkei 225 index climbed 1.3%, benefiting from a weaker yen and expectations of easy monetary policy from the Bank of Japan. Indonesia’s Jakarta Composite Index rose 1.65%, showing the most impressive performance, reflecting investor optimism about economic recovery in the region. South Korea’s KOSPI index increased by 1.39%, with a recovery in demand in the chip industry supporting market sentiment.
The market awaits the holiday, with trading likely to become quieter
The U.S. market will be closed on Thursday for the Thanksgiving holiday and will close early on Friday, with trading volumes expected to decrease. Investors will closely monitor this week’s release of the Federal Reserve meeting minutes and a series of economic data, including the revised GDP and core PCE price index, to find more clues on policy direction.
Despite the approaching holiday, market sentiment continues to be influenced by various factors, including fluctuations in U.S. bond yields, dollar trends, and global macroeconomic data performance. Investors need to be cautious of potential market volatility during the holiday period and potential impacts from geopolitical events.
