Global equities continued their ascent, buoyed by investor optimism surrounding a potential interest rate cut by the Federal Reserve in December. Alphabet and Meta Platforms led gains on Wall Street, driving U.S. stocks higher. The tech giant reached a notable milestone in market capitalization, nearing $4 trillion.
Reports indicated robust retail sales and an increase in the Producer Price Index, influenced by energy costs and tariffs. Despite these economic indicators, data showed a decline in private sector employment, adding complexity to the financial landscape as markets prepared for Thanksgiving holiday adjustments.
The strengthening rate-cut expectations fueled the rally, particularly benefiting small-cap stocks. While the European index also saw gains amid optimism over a Ukraine ceasefire. As the dollar weakened against major currencies, oil prices dropped slightly on geopolitical developments between Ukraine and Russia.
