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US equities closed higher on Friday, with the S&P 500 reaching nearly 23-month highs, despite concerns about rising interest rates. The positive sentiment was fuelled by a strong labour market, as the November jobs report exceeded expectations. Energy stocks led the market, and while the 10-year Treasury yield rose to 4.235%, investors remained focused on the favorable outlook for employment. The futures market implied a 45% chance of a Fed rate cut by March, contributing to anticipated volatility over the course of this week amid central bank meetings and key inflation data. Additionally, the Stoxx 50 index surged to its highest level since May 2007, closing at 4,523 on Friday, propelled by strong job data in the US and investor optimism around the perceived peak in major central bank interest rates.
Summary for 11.12.2023
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