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Change modify pause
On Thursday, the S&P 00 closed up 0.1%, and the Dow dropped 46 points, marking a pause in the recent upward trend. The S&P 500 had gained about 2% for the week and over 9% since 27th October, driven by positive inflation data and signs of economic resilience. Small-cap performance, notably the Russell 2000 Index, was up over 5% in the past week. Bond yields slid lower, with the 10-year Treasury rate below 4.5%. Walmart’s quarterly earnings report, indicating signs of weakening customer spending, and disappointing labour market data contributed to mixed equity performance, with Walmart shares sinking nearly 8%. The market appeared to be taking a breather and possibly entering a consolidation phase after a significant rally in late October. European equity markets closed modestly lower, with the Euro Stoxx 50 down 0.3%, driven by concerns over the impact of higher interest rates, while losses in consumer cyclical shares and a decline in oil futures contributed to subdued performance, offset by a 5.6% gain in Siemens after exceeding sales outlook expectations.
Summary for 17.11.2023
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