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December 3, 2024 at 9:00 a.m. EDT
After a long weekend, U.S stocks started December on a mixed tone ahead of economic data. The S&P closed higher reaching HOD 6053 and the ICE Semiconductor index surged +2.60%. An early read showed Black Friday sales accelerated +3.4% YoY. US ISM Mfg PMI was higher than expected lifting the USD. Prices Paid cooled while New Orders expanded pointing to a rush to buy inputs and supplies. Dovish Fedspeak capped U.S Treasury yields though ended higher. Today, Swiss inflation fell as anticipated, and the French government faces turmoil again. Brazil’s GDP pace of growth moderated matching consensus while the BRL weakens. U.S Treasury yields nudging lower and equity futures little changed awaiting JOLTS after the open.
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