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US equities rose on Thursday thanks to strong earnings, lower bond yields, and positive economic data. The S&P 500 and Nasdaq reached their highest levels in over two weeks. The broad-based rally encompassed various sectors, particularly financial, energy, and retail, with small-cap shares leading the way, exemplified by the Russell 2000 Index’s 2.5% surge. Bond yields, especially the 10-year Treasury, dropped to below 4.7%. Overall, third-quarter earnings have been surpassing expectations and are expected to show year-over-year growth for the first time since the first quarter of 2022. Elsewhere, European markets continued their winning streak for a fourth session, with Frankfurt’s DAX 40 and the Euro Stoxx 50 rising significantly.
Summary for 03.11.2023
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