Home Blockchain News “5 Important Things to Consider Before the Stock Market Opens on Thursday, November 30”

“5 Important Things to Consider Before the Stock Market Opens on Thursday, November 30”

by Michael Stark

**Stock Market Today: November 29, 2023**

Investors’ attention was focused on several key news items affecting the market on November 29, 2023.

November Reign

As November drew to a close, the three major stock indices were on track to break a three-month losing streak, posting their best month of the year. This positive trend was driven in part by the bond market, as the yield on the 10-year Treasury note fell below 4.3%. Despite a revised GDP number coming in higher than expected at a 5.2% annual rate, investors were eagerly anticipating the release of the personal consumption expenditure report for October, an important inflation measurement for the Federal Reserve.

What’s It Going to Take?

Amidst signs of a moderating economy and declining yields, the big question on investors’ minds was when the Federal Reserve would cut its benchmark rate again. Market expectations were leaning towards 2024 for these rate cuts to potentially occur, contingent upon a more dramatic economic slowdown, including a decline in employment. Market experts expressed caution, noting that the current economic cycle, with its inflation spikes, required more deliberate policy decisions by the Federal Reserve.

‘Go f— Yourself’

Tech entrepreneur Elon Musk’s controversial statements and actions also drew attention from investors. Amid a backlash from companies that halted advertising on his social media platform, Musk retaliated with a blunt message: “Go f— yourself.” His visit to Israel and apology for an endorsement of an antisemitic post were also in the spotlight. Musk’s statements and behaviors continued to spark both criticism and intrigue among investors.

Five Years, That’s All We’ve Got

The soaring demand for artificial intelligence (AI) chips was highlighted by Nvidia CEO Jensen Huang, as he emphasized the company’s impressive revenue growth. Huang predicted even further growth in AI technology, projecting that within the next five years, AIs could achieve tests in a way that’s “fairly competitive” with human intelligence. This projection underscored the significant impact of AI developments on the technology and investment landscape.

An Update from Ford

Ford issued a business update, reinstating its guidance for 2023. However, the company lowered its expectations for earnings and free cash flow, citing significant costs incurred during the recent United Auto Workers strike. This announcement paralleled a similar update from General Motors and underscored the ongoing impact of labor disputes on the automotive industry.

In summary, investors were digesting a mix of economic, technological, and corporate news that had potential implications for their trading decisions. The various developments underlined the fluid and multifaceted nature of the investment landscape.

— *Contributed by our team of market analysts.*

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