U.S. stocks surged on Wednesday, November 15, 2023, as investors cheered a cooler-than-expected inflation report. The Dow Jones Industrial Average jumped 742.06 points (1.14%) to close at 65,675.93, while the S&P 500 Index rose 231.90 points (1.19%) to settle at 19,675.45. The Nasdaq Composite Index gained 178.55 points (1.33%) to end at 13,946.29.
European Stocks Rise as Investors Await ECB Meeting
European stocks rose on Wednesday, November 15, 2023, as investors awaited the European Central Bank’s (ECB) latest monetary policy decision. The pan-European STOXX 600 index climbed 0.8%, while Germany’s DAX gained 1.1% and France’s CAC 40 rose 0.9%.
Asian Stocks Mixed as Investors Weigh Inflation Concerns
Asian stocks were mixed on Wednesday, November 15, 2023, as investors weighed inflation concerns with hopes for a recovery in China’s economy. Japan’s Nikkei 225 index fell 0.2%, while China’s Shanghai Composite Index rose 0.3%.
Oil Prices Rise as Recession Fears Ease
Oil prices rose on Wednesday, November 15, 2023, as concerns about a global recession eased. Brent crude futures climbed 1.8% to settle at $95.00 per barrel, while West Texas Intermediate (WTI) crude futures gained 1.6% to end at $85.20 per barrel.
Gold Prices Fall as Investors Seek Riskier Assets
Gold prices fell on Wednesday, November 15, 2023, as investors shifted their focus to riskier assets following the positive inflation data. Gold futures for December delivery settled $4.40 lower, or 0.3%, at $1,736.00 an ounce.
Financial market news for November 12, 2023:
Dow Jones Industrial Average: 34,337.87, up 54.77 points (0.16%)
S&P 500: 4,411.55, down 3.76 points (0.08%)
Nasdaq Composite: 13,767.74, down 30.71 points (0.22%)
Diwali Muhurat Trading: Indian stock markets closed higher on Sunday, November 12, in the special one-hour trading session known as Diwali Muhurat Trading. The Sensex index rose 355 points (0.55%) to close at 65,259.45, while the Nifty 50 index gained 100 points (0.52%) to settle at 19,525.55.
Moody’s Downgrades U.S. Credit Rating: Moody’s Investors Service downgraded the United States’ long-term issuer rating one notch to Aa3 from Aaa, citing “very large” fiscal deficits and partisan gridlock in Washington.
Meta, Apple, and Alphabet to Face New Financial Regulations in the US: The Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would bring large tech companies that offer digital wallets and payment apps under its supervision.
Nvidia Updates H100 AI Processor: Nvidia has announced significant updates to its H100 AI processor, adding new capabilities that are expected to further solidify the company’s dominance in the AI computing market.
Boeing Secures Orders at Dubai Airshow: Boeing has opened the Dubai Airshow with a flurry of orders, including a $52 billion commitment from Emirates Airline for widebody aircraft.
Tyson Foods Writes Down Beef Investments: Tyson Foods has written down the value of its investments in beef, citing a challenging economic backdrop, tighter cattle supplies, and higher costs.
HP Inc. Shares Rise on Optimistic Outlook: HP Inc. shares have risen after the company issued an optimistic outlook for the rest of the year. The company expects to see strong demand for its personal computers and printers, particularly in the consumer and education markets.