US benchmark equity indexes ended higher Friday as a survey revealed that consumer sentiment reached a six-month high in November. The latest consumer sentiment figures indicated a fourth consecutive improvement this month, achieving the highest reading in half a year, while inflation expectations for the year ahead dropped to their lowest point since December 2020, based on preliminary results from the University of Michigan's Surveys of Consumers. Interviews for the survey were completed prior to Tuesday's US presidential election, where Donald Trump defeated Kamala Harris, marking his return to the White House.
Meanwhile, December West Texas Intermediate crude oil saw a decline of $1.88, settling at $70.48 per barrel. Concurrently, January Brent crude, the global benchmark for oil prices, was last recorded down $1.63 at $74.00. These fluctuations followed new economic stimulus measures from China that failed to alleviate ongoing concerns regarding demand. In the stock market, Tesla's shares surged by 8.2%, propelling the electric vehicle manufacturer’s market capitalization above $1 trillion.
Investors appear optimistic that Tesla will benefit from Trump's victory in the presidential race. Conversely, Airbnb's shares dropped 8.7% after the vacation rental service reported that its Q3 earnings fell more than 50% year-over-year, although revenue slightly exceeded Wall Street's forecasts. Additionally, Boeing is contemplating the sale of its navigation unit, Jeppesen, and has engaged an adviser to assist with the potential divestiture.
Reports indicate that Boeing's shares enjoyed a modest increase of 0.5%..