November Finishes on a Quiet Note

It’s Black Friday and also the last trading day for November. US markets close at 1:00 pm EST.

US traders don’t seem to want to make any waves today. US index futures are up 0.2%-0.3%. The 10-year treasury note yield has slipped back under 4.25%. European markets are mixed with the FTSE down 0.1% and the Dax up 0.4%.

Precious metals and cryptocurrencies are climbing today. Gold is up 0.7%, Silver is up 2.5% and Bitcoin is up 2.1%. Commodities are also on the rise with US crude oil up 0.2%, natural gas up 3.7% and copper up 0.2%.

Canada Q3 GDP slowed as expected to 1.0% from 2.2% in Q2, which helps to explain the Bank of Canada’s series of interest rate cuts over the last several months.

Next week is a busy one for business news and potentially market action. Cyber Monday brings weekly retail sales reports and Manufacturing PMI reports from around the world. Later in the week the focus shifts to Canadian bank earnings, an OPEC+ meeting, and North American employment reports. 

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