Before Federal Reserve Chairman Jerome Powell's speech could provide clues about interest rate trends, European stock markets rose and the US dollar fell. The S&P 500 index experienced one of the strongest November on record, while the MSCI All Country World Index saw its third largest monthly increase in the past decade.
The European Stoxx 600 index rose 0.7%, led by mining companies Anglo American and Rio Tinto. Previously, the stock prices of these two companies were raised to buy, and private measures of Chinese manufacturing activity exceeded expectations.
The market value of large global enterprises led by well-known technology companies rose sharply in November due to the decline in the yield of US treasury bond bonds and the growing expectation of the global central bank's possible interest rate cut.
The S&P 500 index experienced one of the strongest November on record, while the MSCI All Country World Index saw its third largest monthly increase in the past decade.
In the past month, Apple's market value has jumped by 11.2% to reach $2.95 trillion; Microsoft's market value increased by 12.1%, reaching $2.8 trillion.
Nvidia announced a year-on-year increase of 206% in revenue for the third quarter to $18.1 billion, and its market value surged by 14.7% to $1.15 trillion. The company also expects higher than expected revenue in the fourth quarter due to improved supply chain conditions and strong demand for its artificial intelligence (AI) chips.
Besides that. The easing of inflation concerns has also brought a huge boost to bank stocks. As of the end of November, JPMorgan Chase's market value increased by 12.2% to $451 billion.
With the price increase of Model 3 and Y cars in China, Tesla's market value increased by nearly 20% last month, reaching $763.2 billion.
According to data from market research firm Rho Motion, despite the cessation of subsidies, sales of electric vehicles in China continued to grow significantly in October.
On the contrary, the decline in oil prices has led to a decline in the market value of major oil companies. The market value of Saudi Arabian Oil Company and ExxonMobil Company decreased by 0.3% and 2.9% respectively.
"The market wants to know if the expectation of a US interest rate cut next year is somewhat ahead of schedule," said S é bastien Barb é, head of emerging markets research and strategy at Credit Agricole in France
"From Powell's perspective, it may be tempting to warn the market not to be overly optimistic about possible interest rate cuts to maintain monetary conditions that are sufficiently tight to ensure that deflation is sustainable."
Italian bonds performed better than their peers, as the money market increased its bets on the European Central Bank's interest rate cut after an unexpected drop in Italian manufacturing data.
According to statistics released by the United States on Thursday (November 30th), a key inflation indicator slowed down in October, adding to the reason for the Federal Reserve to end its tightening policy and strengthening claims that it boosted global markets last month.
Despite OPEC+agreeing to reduce supply, crude oil prices continue to decline. The OPEC+meeting promised to reduce production by approximately 900000 barrels per day starting from January, but the specific details are not yet clear. In February, Brent crude oil prices fell below $81 per barrel.
Gold is expected to rise for the third consecutive week.
In Asia, the MSCI Asia Pacific stock index fell as much as 0.5%.
