Financial markets gave investors a lot to ponder during the Thanksgiving holiday-shortened week.
US stocks closed out the week at record highs on Friday, propelled by technology stocks, while Treasury yields declined and the dollar slipped, reversing eight straight weeks of gains.
There was plenty of good news for markets. Wall Street was optimistic about President-elect Donald Trump’s Treasury Secretary pick, hedge fund executive Scott Bessent, and the possibility of more business-friendly conditions after Inauguration Day.
“This is the exact pick the market wanted,” Ed Mills, a Washington policy analyst at Raymond James, said on Yahoo Finance’s Morning Brief about Bessent.
Other good news included stable inflation numbers, decent consumer sentiment, and a solid start to the holiday shopping season as consumers took advantage of discounts on electronics and clothing.
The…
