Pre-Market Report – Monday 25 November: ASX SPI up 52 | US markets lead the way

Market Updates

Wall Street closed out the week on a positive note with all three major indices booking weekly gains following strong PMI data. Small caps outperformed the large indices, the Russell 2000 rose 1.80% closing at a one-week high and finishing 4.3% higher for the week. Blue chips also performed well. The Dow added 426 points (+0.97%) closing near session highs. Up 454 points at best. S&P 500 rose 0.35% and the NASDAQ gained 0.16% despite losses in Alphabet down 1.6% adding onto Thursday's 4% drop following the DoJ’s argument that the company has monopolised online search. Nvidia too lost 3.2% in a choppy trading session. For the week, Dow +1.96%, S&P 500 +1.68%, and NASDAQ +1.73%. Business activity in the US hit a 31-month high in November, as S&P Global's Composite PMI rose to 55.3 from 54.1 in October, reflecting optimism over lower interest rates and pro-business measures by President-elect Trump. USD Index jumped 0.41%, Bitcoin is trading within striking distance of $100k, sitting at $99k, and US treasuries ended the session mixed, with the 10Y easing a touch.
ASX SPI up 52 - Gold in focus - AGMs continue
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