In New York, stock markets reacted positively to the FOMC minutes. The Dow Jones Industrial gained +0.28% to enter the Thanksgiving holiday at 34,194.06 points. The S&P 500 was up +0.59% to finish at 4,027.26 points. Indices on the Nasdaq were up roughly +1%. No trading is taking place Thursday in the US due to the Thanksgiving holiday and Friday will have shortened trading hours.
In Asia, stock markets were also reacting mostly positively to the FOMC minutes as well as a mild 25-basis-point hike by the Bank of Korea. Japan’s Nikkei 225 gained +1% Thursday and Hong Kong’s Hang Seng index rose +0.52%. The Shanghai Composite fell slightly, down -0.11%.
New applications for unemployment in the US increased last week, reaching a three-month high. The data was released early on Wednesday due to the long Thanksgiving weekend in the US. The higher unemployment claims data is not likely to have much affect on the US labor market, since companies in many industries are struggling to find qualified workers. There are nearly two job openings for every unemployed person in the US.
Russian missile strikes destroyed more critical infrastructure in Ukraine on Wednesday, causing blackouts in places as far as neighboring Moldova. The entire region of Kyiv was without power and water supplies and heating were also disrupted. Ukrainian President Volodymyr Zelenskyy hat previously called on residents of the country to limit their use of resources, noting that Russia may try to cut off utilities during the cold, dark winter months.
|01:30||JP||Manufacturing PMI (November)||50.7|
|10:00||GE||Ifo Business Climate Index (November)||84.3|
|12:00||UK||CBI Industrial Trends Orders (November)||-4|
|13:30||EZ||ECB monetary policy minutes|
|17:00||GE||Bundesbank President Nagel speaks|
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