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By Staff Reporters
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U.S. equities accelerated to the upside to finish solidly higher amid a slew of data heading into the Thanksgiving holiday break. The move upward came following the release of the minutes from the Fed’s November monetary policy meeting which indicated some caution among Committee members. The economic calendar was robust, as durable goods orders came in much stronger than expected, along with new home sales and consumer sentiment, while mortgage applications rose for a second-straight week.
However, not all the reports were positive as weekly initial jobless claims rose and preliminary reads on manufacturing and services output both showed contraction after falling more than expected. Earnings reports continued to pour in, with Deere & Company rallying following its results, while HP and Autodesk lowered their guidance.
Treasury yields were lower, and the U.S. dollar fell, as did crude oil prices, while gold gained ground.
Asia finished mostly higher, though Japan was closed for a holiday, and Europe was mixed as the markets digested Eurozone and U.K. manufacturing and services data that also showed contraction in activity.
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CITE: https://www.r2library.com/Resource/Title/082610254
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