Wall Street ended a strong week with the S&P 500 closing at 5,995.54, up 4.72%, boosted by election results and a 25-basis-point Fed rate cut. The Dow rose 4.72% to 43,988.99, and the Nasdaq led with a 5.85% gain to 19,286.78. Falling Treasury yields, easing volatility, and lower oil prices contributed to the rally, with all 11 S&P sectors posting gains.
Consumer sentiment hit a seven-month high, supporting market optimism. The Fed’s rate cut set the target range at 4.5%-4.75%, with officials signaling potential future cuts. Upcoming U.S. data releases include the October CPI on Wednesday and the PPI on Thursday, with forecasts showing a 0.2% rise in headline CPI and a 0.3% increase in core CPI. Retail sales data is also expected next Friday. In China, stocks dipped Friday after a budget meeting ended without major stimulus, despite posting weekly gains.