The markets rallied on Monday after a late Friday reversal, with all major indices finishing higher. Concerns of a Thanksgiving sell-off lessened, with potential for a Santa Claus rally. Futures are lower on Tuesday, but the market could remain calm for the rest of the week. Dow closed at 46,448, S&P 500 at 6705, and NASDAQ at 22,872 on Monday.
Yields decreased on Monday due to more buyers entering the market and positive comments from a Fed Governor advocating for a rate cut. The 30-year long bond closed at 4.68% and the 10-year note at 4.03%. Energy stocks saw gains on hopes of a rate cut boosting the economy and fuel demand. Brent Crude closed at $63.44, West Texas Intermediate at $58.96, and natural gas at $4.52.
Gold surged on Monday, up 1.7% at $4,133 as support held at $4,000 and central bank buying remained strong. Cryptocurrencies gained on a rise in market capitalization and a potential merger between Naver Financial and Dunamu. Bitcoin traded at $88,960, and Ethereum at $2,966. Analysts released various upgrades and downgrades for stocks like AMAT, AVB, EAT, and CDW.
Read more at Yahoo Finance: Applied Materials, CDW, Exact Sciences, Harley-Davidson, Oshkosh, ServiceNow and More
