The "Trump trade" continued to stimulate animal instincts, sending markets soaring towards new highs during a week when US President-elect Donald Trump continued to threaten even more harsh trade tariffs on both friends and adversaries.
Besides the prospect of tax cuts and deregulation, investor sentiment was also boosted by a robust US economy, indications of at least three more US Federal Reserve interest rate cuts over the next 12 months and strong consumer spending.
This despite US two-year and 10-year Treasury rates remaining at their highest levels in months, prevailing geopolitical uncertainties and economists warning that Trump's policy positions could rekindle inflationary pressures at home.
On Wall Street, stocks had their best month in 2024, with expectations that a tech revolution, unbridled energy markets and financial deregulation will boost corporate activity and earnings.
The Dow Jones Industrial Average traded above the key 45,000 points level for the first time in history before closing out a holiday-shorted Black Friday at a record 44,910 points, for a 2.37 per cent rise over a week.
The marquee Wall Street index is now up 7.54 per cent for the month and has gained 19.6 per cent in 2024.
The S&P 500 ended the week at a record 6,032.38 points after gaining 1.41 per cent during the week. This broad index is up 5.73 per cent for November and 26.47 per cent for the year-to-date. The tech-heavy Nasdaq rose 1.3 per cent last week to 19,218.17 points, totalling a November gain of 6.21 per cent and a year-to-date rise of 28.02 per cent.
In Singapore, the Straits Times Index (STI) began Nov 25 near the fresh 3,766.93 high made the preceding week, but did not have adequate bid tone to press on to a new high. It ended the week down 0.2 per cent, at 3,739.29 points.
Denne historien er fra December 02, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 02, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
NO SNOW, BUT SANTA'S STILL AT WORK
With a month to go until Christmas, Santa Claus is busy preparing, but he is worried about the warming climate and lack of snow in his Arctic home town.
My Chemical Romance ex-drummer Bob Bryar was active in dog rescue
Bob Bryar, the former drummer of pop-punk band My Chemical Romance, who was with the group from 2004 to 2010, has died at the age of 44.
Lady Gaga to hold free gig at Rio's Copacabana Beach: Sources
Pop star Lady Gaga is set to hold a free concert at Rio de Janeiro's Copacabana Beach in May 2025, two sources familiar with the matter told Reuters, a show expected to draw hundreds of thousands of fans.
Taylor Swift fans turn out on Black Friday for vinyl album, new Eras Tour book
Young Taylor Swift fans and their parents lined up outside some of Target's nearly 2,000 stores in America early on Nov 29 - Black Friday - to buy copies of her new Eras Tour book and vinyl album.
K-drama actor Jung Woo-sung apologises after scandal on love child
One of South Korea's top actors apologized after it was revealed he fathered a child with a woman he is not married to, sparking nationwide scrutiny in a country where births outside marriage are still seen as taboo.
Festive vibes with Vivaldi at SSO's choral concert
CONCERT GLORIA!
An exploration of personal identities through dance
As one stepped into the theatre, a dancer was already on stage, performing a short series of movements.
BoA's first solo show harks back to K-pop's roots
The South Korean singer-songwriter's Singapore show was the last stop of her first Asia tour
The myth of an equal marriage
Research has shown that married women continue to do more at home compared with their husbands, so it is time for men to step up
What to do if your child is targeted by a bully
Following recent incidents of school bullying, several parents wrote in to ST to ask for advice on how they can help their children if they are targeted by a bully or bullying someone.