US Consumer Confidence Rises as Equity Markets Gain Ground
10 months ago

US benchmark equity indexes mostly advanced ahead of Friday's close as a survey indicated that consumer sentiment reached a six-month high in November. The Dow Jones Industrial Average increased by 0.7%, reaching 44,018.1, while the S&P 500 experienced a rise of 0.4% to 5,996.2. The Nasdaq Composite remained relatively stable at 19,271.9.

In terms of sector performance, utilities and real estate recorded the most significant gains, whereas materials, communication services, and technology sectors faced declines. Consumer sentiment in the US has shown consistent improvement this month, recording its highest level in six months. Additionally, year-ahead inflation expectations have decreased, reaching the lowest point since December 2020, according to preliminary results from the University of Michigan's Surveys of Consumers. The yield on the US two-year treasury rose by 4.2 basis points, now standing at 4.26%, whereas the 10-year treasury rate declined by 3.1 basis points to 4.31%. In the commodities market, West Texas Intermediate crude oil prices fell by 2.6%, settling at $70.47 per barrel..

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