Stock Market News for Nov 25, 2022 – Yahoo Finance


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Wall Street ended higher for the second-straight session on Wednesday as the minutes from the Fed’s policy meeting showed that the policymakers are expecting to hand out smaller rate hikes in the coming months as inflation shows signs of cooling off. All three major indexes ended in positive territory. U.S. stock markets were closed on Thursday for the Thanksgiving holiday.
The Dow Jones Industrial Average (DJI) rose 0.3% or 95.96 points to close at 34,194.06 points.
The S&P 500 climbed 0.6% or 23.68 points to finish at 4,027.26 points. Consumer discretionary, communication services and utilities stocks were the biggest gainers.
The Consumer Discretionary Select Sector SPDR (XLY) rose 1.4%, while the Communication Services Select Sector SPDR (XLC) gained 1.3%. The Utilities Select Sector SPDR (XLU) added 1.1%. Ten of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq gained 1% or 110.91 points to end at 11,285.32 points.
The fear-gauge CBOE Volatility Index (VIX) was down 4.42% to 20.35. Advancers outnumbered decliners on the NYSE by a 1.97-to-1 ratio. On Nasdaq, a 1.61-to-1 ratio favored advancing issues. A total of 9.25 billion shares were traded on Wednesday, lower than the last 20-session average of 11.6 billion.
Markets closed higher on Tuesday after investors shed fears of further economic slowdown owing to China tightening its COVID policies following a surge in new cases, and focus on a batch of earnings from some big retailers.
The upbeat sentiment continued into Wednesday and got a further boost after the minutes from Fed’s November meeting showed that the majority of the policymakers agreed that it would be appropriate to go for slower interest rate hikes in the coming months, as inflation showed signs of cooling off.
This means the Fed could go for a lower rate hike in December and into 2023. However, Fed officials are still unsure how high the benchmark rate would rise to control the multi-year high inflation.
The Fed hiked interest rates by 75 basis points in November for the fourth consecutive time this year, bringing rates to their highest point since 2008. However, with inflation cooling, economists now are expecting a 50-basis point hike in December.
Following the release of the minutes of the Fed’s meeting, treasury yields fell. The 10-year Treasury yield fell to 3.708%, while the 2-year Treasury yield fell 3.6 basis points to 4.481%.
A decline in treasury yields sent growth stocks on a rally. Shares of Netflix, Inc. NFLX gained 1.7%, while Microsoft Corporation MSFT advanced 1%. Netflix carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Consumer discretionary stocks also gained on Wednesday. Shares of Carnival Corporation & plc CCL jumped 2.8%, while Royal Caribbean Cruises Ltd. RCL gained 0.7%.
A lot of economic data was released on Wednesday ahead of the Thanksgiving Day holiday. The University of Michigan’s final reading of the consumer sentiment index saw a decline in November. Consumer sentiment fell to 56.8 in November.
The Commerce Department said U.S. new home sales increased 7.5% to a seasonally adjusted annual rate of 632,000 in October from 588,000 in September.
Durable goods orders unexpectedly rose 1% in October, beating expectations of a rise of 0.4%.
In other economic data released on Wednesday, the Labor Department reported that jobless claims totaled 240,000 for the week ending Nov 19, increasing 17,000 from the previous week’s revised level of 223,000. The four-week moving average decreased to 226,750, an increase of 5,500 from the previous week’s revised average of 221,250.
Continuing claims came in at 1,551,000, an increase of 48,000 from the previous week’s revised level of 1,503,000. The 4-week moving average was 1,509,750 an increase of 28,250 from the previous week's unrevised average of 1,481,500.
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Stock markets finished mixed on the day after Thanksgiving, with the Dow Jones Industrial Average (DJINDICES: ^DJI) gaining ground even as the Nasdaq Composite (NASDAQINDEX: ^IXIC) posted modest losses.
As the year winds toward its close, it’s time once again to engage in the age-old practice of picking out the changes that lie waiting in the year ahead. Wall Street’s stock pros are hardly immune from this; every year, they tag their top picks from the equity markets for the calendar change, and this year is no exception. The analysts are looking ahead toward the post-New Year market landscape, and picking out potential winners for investors to consider. We've opened up the database at TipRanks
Keep an eye on the drop in bond yields for clues to the stock market’s future. One market strategist sees the S&P 500 hitting 5000 next year.
Christine McCarthy, Walt Disney’s longtime finance chief, took an unusual step when she expressed a lack of confidence in the chief executive to directors of the entertainment giant.
A big show of confidence by the CEO has investors feeling better about the electric vehicle start-up.
Shopping malls and retail strip centers have been declining for many years. How many empty spaces did you see in your local mall the last time you visited? Have you seen any new malls or strip centers being constructed recently? Main streets across America have also had vacant storefronts for a long period of time. Because of pandemic lockdowns and the ease of shopping online, the death of brick-and-mortar retail has accelerated. Also, because of recent COVID restrictions, folks have become used
Periods of economic weakness put into sharp focus those companies with reliable earnings streams, and in particular, reliable dividend streams.
Shares of SoFi Technologies (NASDAQ: SOFI) were pulling back this week after the fintech that offers everything from banking services to student and auto loans got two pieces of bad news. First, the Biden administration said it was again extending the pause on student loan payments until next June, limiting a key revenue source for SoFi because it makes money on student loan processing fees. Second, a Senate banking committee posted an opening letter asking to review SoFi's crypto products.
Don’t run out of your savings at the wrong time.
Both of these stocks have great long-term prospects and offer an attractive dividend in the meantime.
Many preferred issues yield 6% or more and offer investors good dividend security since they are a senior form of equity.
Oil prices have been falling, but oil stocks continue to rise. Now general investors seem more engaged with energy names.
Despite the vast depth of information and education available today, financial literacy isn't improving among adults in the U.S. A financial advisor can help you improve your financial literacy to better understand your money. Find a fiduciary advisor today. On average, … Continue reading → The post 23% of Adults Got Three-Quarters of Financial Literacy Questions Wrong: Can You Get Them Right? appeared first on SmartAsset Blog.
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