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Good morning,
I want to wish you and your family a Happy Thanksgiving.
The market’s resilience shone through this week, with small and mid-cap stocks leading the charge. The **Russell 2000** and **S&P Mid Cap 400** demonstrated impressive momentum, surging 4.5% and 4.2% respectively. This rotation into smaller companies signals growing investor confidence in broader market segments.
The major indices weren’t far behind – **S&P 500** and **Nasdaq Composite** each gained 1.7%, while the **Dow Jones Industrial Average** advanced 2.0%.
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A particularly intriguing development emerged in the tech sector. **Alphabet** faced headwinds, dropping 4.2% after the Department of Justice pushed for potential divestitures of **Chrome** and **Android**. The plot thickened when **Microsoft**-backed **OpenAI** revealed plans to develop its own browser – a move that, ironically, might strengthen **Google’s** position against antitrust concerns.
The retail sector delivered quite a show this week. **Target** took a significant hit, tumbling 17.8% (including a dramatic 20% plunge during Wednesday’s session) following disappointing earnings. Meanwhile, **Walmart** demonstrated its market leadership with a robust 7.4% gain after its earnings report exceeded expectations.
Have a great week!
Irving Wilkinson, Editor
[AlphaBetaStock.com]([link removed])
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## Week In Review
----------## **Bonds and Treasuries**
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The fixed-income market painted an intricate picture this week. The 10-year yield eased two basis points to 4.41%, while the 2-year yield climbed seven basis points to 4.37%. This narrowing spread between short and long-term rates deserves close attention, as it often precedes significant market shifts.
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## **US Market Highlights**
The domestic landscape buzzed with significant developments:
:• **Gary Gensler’s** upcoming departure from the **SEC** Chair position signals potential regulatory shifts
• Housing market showed renewed vigor with October sales jumping 3.4%
• Business activity reached a 31-month peak with the S&P Composite PMI hitting 55.3
• **Spirit Airlines** entered Chapter 11 while maintaining operations
• **Comcast’s** decision to spin off its cable networks marks a strategic pivot
• **Tesla** shares rallied on potential autonomous driving regulation changes
## **Global Highlights**
International markets presented a complex tapestry of developments:
• **Moscow** updated its nuclear doctrine, raising geopolitical tensions
• **Japan** unveiled an ambitious $141B stimulus package
• **China** maintained its lending rates steady at 3.1% for 1-year and 3.6% for 5-year loans
• **UK** inflation surprised with a 2.3% October reading
• **Canada’s** inflation hit the 2% mark, complicating monetary policy decisions
----------## Commodities & Crypto
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The energy sector, oil markets retreated significantly, with **Brent** and **WTI** touching yearly lows around $71 and $67, respectively. **OPEC** revised its global demand growth forecast down to 1.82 million barrels per day.
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Gold declined for the second consecutive week, falling to around $2,570 as rising bond yields put pressure on the precious metal.
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The cryptocurrency market delivered extraordinary drama this week. **Bitcoin** reached a staggering $93,500 before settling below $90,000, driven by over $2 billion in net ETF inflows.
**Dogecoin** was surprised with a 32% weekly gain, partly fueled by speculation about **Elon Musk’s** potential government role.
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## Calendar
----------The Thanksgiving-shortened week still packs plenty of market-moving potential:
• Tuesday: Consumer confidence data and new home sales figures
• Wednesday: Personal income reports, GDP revision, and Fed minutes
• Notable earnings from **Dell**, **CrowdStrike**, and **Analog Devices**
The PCE price index release on Wednesday warrants special attention as the Fed’s preferred inflation gauge. Additionally, **Pony AI’s** IPO could shake up the autonomous driving sector, targeting a valuation of up to $4.6B.Remember, holiday-shortened weeks often bring unexpected volatility. Stay vigilant but measured in your approach.
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