- American indices are mostly experiencing pre-holiday rebounds today. Initial losses caused by a worse-than-expected consumer sentiment index reading were recovered later in the session. The S&P 500 is up nearly 0.5% today, the Nasdaq 100 is rising by almost 0.9%, and the Dow Jones is trading close to yesterday's closing price. Only the Russell 2000 is down nearly 0.5% today.
- Rumble's stock price surged by over 100% today following the announcement that Tether decided to purchase shares of the company. The transaction amounted to $775 million, with an average purchase price of $7.5 per share.
- Honda is up 12% today after officially confirming that it has begun talks with Nissan about a potential merger of the car manufacturers. Such a transaction would create a conglomerate that would be the third-largest car manufacturer (after Toyota and Volkswagen).
- European indices are experiencing pre-holiday gains. The Swiss SMI is up over 0.9%, the British FTSE 100 is gaining 0.2%, and the Italian IT40 is up 0.3%. However, there is a more negative sentiment in France, where the price remains at the previous closing level, and in Germany, where the German DAX is down 0.2%.
- 10-year U.S. Treasury yields continue to rise, approaching the psychological barrier of 4.6%. Today, they increased to 4.585%, the highest reading since May of this year.
- The U.S. consumer confidence index, prepared by the Conference Board, unexpectedly fell to 104.7 (forecasted value: 113.3; previous value: 112.8). The reading was a negative surprise in a key month for retail trade.
- New home sales in the U.S. increased by 5.8% month-over-month in November, and October's data was revised to -14.8% month-over-month. The increase in sales was higher than expected. At the same time, the median price fell by -6.3% year-over-year. Price movements indicate the effect of high interest rates on consumer demand.
- Canada's GDP grew at a faster pace month-over-month than the previous month and exceeded the forecasted growth rate. The increase was 0.3% compared to the forecasted 0.1%. The IPPI inflation rose by 0.6% month-over-month in November (compared to the forecast of 0.3% month-over-month). Year-over-year, inflation rose by 2.2%, surpassing the 2% barrier for the first time since July of this year.
- Spain's GDP for Q3 grew by 0.8% quarter-over-quarter, in line with expectations. On an annual basis, GDP growth was slightly weaker compared to expectations: +3.3% versus the forecast of +3.4%.
- Today, we see stronger movements in the British pound, which is down nearly 0.4% against the U.S. dollar. The euro is also down, falling by 0.3% against the U.S. dollar. The Swiss franc is also losing significantly today, down 0.8% against the dollar and 0.6% against the euro.
- Profit-taking pressure is evident in gas prices today. Gas futures are down -2.5% despite the lack of clear market signals supporting weak demand.
- In the precious metals market, gold declines 0.4%. However, we see positive sentiment towards both platinum (+1.4%) and palladium (+1.9%). Silver is up nearly 0.5%.
- Bitcoin is down over 2% today, falling below the $95,000 level. In contrast, Ethereum is up nearly 1.7%.
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