The PULSE: Global Economic and Market News for Thursday, November 29, 2024

As of November 29, 2024, global financial markets are experiencing notable movements influenced by economic indicators, geopolitical developments, and investor sentiment.

U.S. Stock Market Performance

In November, U.S. equities recorded their most substantial monthly gains of the year. The S&P 500 increased by 5.7%, while the Dow Jones Industrial Average rose by 7.5%, approaching the 45,000-point mark. The Nasdaq Composite also saw significant growth, driven by a surge in semiconductor stocks amid expectations of more lenient U.S. restrictions on chip sales to China.

THE WALL STREET JOURNAL

Global Economic Indicators

The International Monetary Fund's October 2024 World Economic Outlook projects global growth at 3.2% for 2024 and 3.3% for 2025. However, persistent services inflation complicates monetary policy normalization, with risks of prolonged higher interest rates due to escalating trade tensions and policy uncertainties.

INTERNATIONAL MONETARY FUND

Geopolitical Developments

Geopolitical tensions are influencing market dynamics. In France, disputes over Prime Minister Michel Barnier's budget, which proposes significant tax increases and spending cuts, have led to threats from coalition partner Marine Le Pen to dissolve the government, resulting in underperformance of French bonds.

REUTERS

In Asia, U.S. tariff threats have impacted markets, though Chinese equities remain resilient. Beijing is considering new economic stimulus measures to counteract the effects of the trade war, while Japan's automotive sector faces challenges due to these trade tensions.

REUTERS

Commodity Markets

Bitcoin is approaching the $100,000 mark, trading above $97,000, reflecting increased investor interest in digital assets.

THE WALL STREET JOURNAL

Outlook

As December approaches, historically a strong month for equities, investors closely monitor economic indicators, including upcoming labor market data, to gauge the Federal Reserve's monetary policy trajectory. The global economic landscape remains complex, with geopolitical tensions and policy decisions pivotal in shaping market conditions.

Disclosure

This summary is for informational purposes only and does not constitute financial advice, an offer, or a solicitation to buy or sell securities. Market data, economic conditions, and geopolitical developments are subject to change, and past performance is not indicative of future results. Readers are encouraged to perform their own research or consult a qualified financial professional before making investment decisions.

Sources: wsj.com, imf.org, reuters.com, apnews.com.

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