On Wednesday, the S&P 500 ended up 0.41 percent at 4,556.62. The Dow Jones rose 0.5 percent to 35,272.77, and the Nasdaq rose 0.46 percent to 14,265.85.
November has been a strong month for the American stock market, and all three indices are up between five and ten percent since the turn of the month. Due to Thanksgiving, the stock exchange is closed on Thursday, while there are reduced opening hours on Friday.
The US ten-year was at one point down to 4.36 percent, the lowest level in two months. At closing time, the interest rate is 4.41 per cent.
The volatility index VIX is down 2.3 percent to 13.01.
Oil
Oil prices have fluctuated widely ahead of this weekend’s planned meeting between the OPEC+ countries. On Tuesday, however, the message came that the meeting was postponed. That sent oil prices straight down, and at one point prices were down around 5 percent. At closing time, the prices for WTI oil and Brent oil are down around one percent to USD 76.8 and USD 81.75 respectively.
– It is surprising news, and we know little about what lies behind it. It is surprising because there have been no indications from Saudi so far that the country is dissatisfied with bearing the cuts alone, says oil analyst Ole-Rikard Hammer.
Oil stocks such as Chevron, Exxonmobil and ConocoPhilips all started the day with a sharp decline, but recovered throughout the day. The latter two ended down around 0.3 per cent each, while Chevron ended with an increase of 0.2 per cent.
Stock
The results season is coming to an end, and most of the heavyweights have presented their figures for the third quarter.
Nvidia presented numbers after hours on Tuesday, as the last remaining of the big tech companies. The result beat expectations, with strong growth on both the top and bottom line. However, the investors are not satisfied, and send the share down 2.5 per cent. The company is still up 233 percent so far this year.
The tractor manufacturer Deere & Co also beat the market’s expectations on both the top and bottom lines. Here, too, the reward was a decrease of just over 3 per cent. Disappointing prospects for the coming year are probably contributing here.
Techakser generally had a good day on Wednesday. Meta rose 1.4 percent, while Apple added 0.4 percent. Netflix rose 0.6 percent, and Amazon strengthened by 1.7 percent. Alphabet rose just over 1 percent.
Microsoft continued its winning rise from recent days, with a rise of 1.3 percent to a new all-time high. The uproar surrounding OpenAI founder Sam Altman’s sudden dismissal and subsequent reinstatement has been positive for the company, which Kari and Ola Nordmann have benefited from.
After today’s rise, Microsoft is well on its way to catching up with Apple for the throne as the stock exchange’s largest company. Microsoft has a market value of 2.8 trillion dollars, while Apple is still the largest with a value of 2.9 trillion dollars.
2023-11-22 21:01:29
#Upswing #Wall #Street #Thanksgiving
