Rally on Wall Street: Major Market Averages Up on Monday Morning
The major stock market averages on Wall Street surged higher on Monday morning as the outburst of trading signaled the start of the holiday shortened week. At the start of trading, the Nasdaq Composite (COMP.IND) increased by 0.4%, the S&P 500 (SP500) rose 0.2%, and the Dow (DJI) gained 0.2%.
Analysts’ Outlook on the Quiet Week Ahead
Experts predict that the week ahead is set to be fairly ‘quiet,’ owing to the fact that it is shortened due to the upcoming Thanksgiving holidays. SocGen’s Kit Juckes further added that the European PMI data to be reported on Friday could be a reminder that growth in the other side of the Atlantic is not as impressive and glowing as predicted. However, the attention of the investors seems to be focused on the reports of the US PMIs, the payrolls, CPI, and the FOMC
Movement of Treasury Yields
Concerning the yields of the Treasury department, the 10-year Treasury yield (US10Y) registered a 2 basis points increase to 4.46%, while the 2-year yield (US2Y) jumped up 2 basis points to 4.91%.
October Leading Economic Indicators Report
The October report of the leading economic indicators did not back up the optimism of economic analysts, who were expecting a decline of 0.7%, as the figures showed the index dropping 0.8%.
Clickbait Style Titles
• Wall Street Rally on Monday: Market Averages Up
• Analysts Predict: ‘Quiet’ Week Ahead on Wall Street
• Will Treasury Department Yields Show Further Growth on Monday?
• Dramatic Decline in October LEI: An Economic Indicator?