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US equity markets surged on Monday, with the Nasdaq leading the gains, as the November rally continued before the Thanksgiving holiday. The S&P 500 rose 0.7% to 4.547.38, the Dow Jones increased by 0.6% to 35,151.04, and the Nasdaq Composite posted a 1.1% gain, closing at 14,284.53. The 10-year US Treasury yield, now around 4.42%, contributed to positive market sentiment as it moved lower from earlier highs. Technology shares, particularly Microsoft, played a significant role in driving the market’s strength, as investors eagerly anticipated Nvidia’s quarterly results, considering its pivotal role in artificial intelligence and its potential impact on market sentiment for the rest of the week. In Europe, shares edged higher with the Euro Stoxx 50 gaining less than 0.1%, led by a 1.3% climb in energy shares amid expectations of further OPEC+ supply cuts, while the healthcare sector declined 0.4%, weighed down by an 18% drop in shares of Bayer following the abandonment of a late-stage trial and a $1.56 billion payout in a US lawsuit over its Roundup weedkiller.
Summary for 21.11.2023
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