Indices Gain Slightly
- Indices rise by approximately 0.20% at the session’s open
- The dollar continues to decline, falling below 106 points
- Bond yields are also dropping
U.S. indices opened with slight gains during the cash session following yesterday’s holiday break (Thanksgiving). Technology stocks in the US100 index saw the strongest gains, climbing by 0.80% to 20,900 points. The US500 index rose by 0.45% to 6,025 points.
A better sentiment is notably present in the semiconductor sector. Nvidia (NVDA.US) is up 3.4%, and TSM (TSMC.US) has gained 3.3%. The IT sector is also performing well, except Microsoft (MSFT.US), which is down 0.7%. Source: xStation 5
US100
The US100 technology index is leading gains today, nearing the 21,000-point level again. The recent correction was halted in the 20,500-20,600-point range. Currently, for bulls, the key resistance zone remains above 21,000 points.
Source: xStation 5
Highlights:
- The U.S. SEC approved the first-ever domestic stock exchange to operate almost continuously, running 23 hours a day and five days a week. Spearheaded by hedge fund billionaire Steve Cohen, the 24X National Exchange boosted brokerage stocks, with Robinhood gaining 2.9%, Charles Schwab up 0.4%, and Interactive Brokers rising 0.3%.
- Retail stocks drew attention amid strong Black Friday shopping activity, fuelled by easing inflation, lower interest rates, and holiday enthusiasm. The National Retail Federation projects 183.4 million people will shop online and in-store from Thanksgiving through Cyber Monday. Prominent retailers like Walmart and Target are positioned to benefit from the surge in consumer spending.
Company News
Microsoft (MSFT.US) declines 0.70% following news from Bloomberg that the U.S. Federal Trade Commission (FTC) has launched a wide-ranging antitrust investigation into the company. The probe focuses on Microsoft’s business practices in cloud computing and artificial intelligence. Wedbush Securities downplayed the concern, suggesting the investigation may not escalate, particularly if FTC Chair Lina Khan steps down under a potential Donald Trump administration.
Miniso (MNSO.US) gained 3.40% despite the company reporting its slowest quarterly revenue growth of the year. Q3 revenue reached RMB 4.52 billion ($624.1 million), a 19.3% year-over-year increase but down from the 24.1% growth in Q2 and 26% in Q1.
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