QUESTION:
Give me a comprehensive market update for November 2024.
RESPONSE:
Here’s a comprehensive market update for November 2024 based on the latest available data:
1. U.S. Jobs Report: The November jobs report is anticipated to show a significant rebound from the October figures, which were adversely affected by hurricanes and a major labor strike. The report is expected to provide a clearer picture of the labor market’s current state[1][2][3][4][5].
2. China’s Economic Indicators: China’s economic stimulus measures, described as modest rather than robust, have been slowly impacting the economy. Preliminary indicators for November suggest an improvement, although not a dramatic surge, in economic growth[6][7].
3. Retail Sector: Deloitte’s annual holiday retail forecast predicts a 2.3% to 3.3% increase in holiday retail sales for 2024, which could amount to between $1.58 trillion and $1.59 trillion during the November to January period[8].
4. Electric Vehicle Sales in China: November saw a significant increase in electric vehicle sales in China, with retail sales reaching 1.277 million units. This represents a 52% year-over-year increase and a 7% rise from October[9][10].
5. Stock Market Trends: The U.S. stock market has shown positive movements, with Wall Street indices rolling higher, partly driven by corporate discussions around artificial intelligence. Investors were also keenly awaiting the November jobs report before making major moves[11][12].
6. Treasury Yields: The 10-year Treasury yield has ticked higher as investors awaited further job data, indicating a cautious but attentive market sentiment towards upcoming economic reports[13].
This summary encapsulates key financial and economic developments for November 2024, providing a snapshot of job trends, market movements, retail forecasts, and specific sector growth like electric vehicles in China.
References
[1] 10-year Treasury yield ticks higher as investors await further job’s data [CNBC]
Investors are keenly awaiting the November jobs report which will be published on Friday — the key economic release due this week. https://www.cnbc.com/2024/12/04/us-treasury-yields-investors-anticipate-further-jobs-data-.html
[2] What to expect in the November jobs report [CNN]
When the Bureau of Labor Statistics releases the November jobs report at 8:30 am ET on Friday, it is wholly anticipated that the data will reflect a sharp rebound — a reset, if you will — from an October report that was bogged down and muddied by back-to-back hurricanes and a major labor strike. https://us.cnn.com/2024/12/05/economy/us-jobs-report-november-preview/index.html?utm_source=business_ribbon
[3] Asia-Pacific markets set to open mixed after key Wall Street benchmarks hit record highs [CNBC]
Investors are awaiting the U.S. November unemployment report, due Friday, which would provide some insights into the Fed’s future policy moves. https://www.cnbc.com/2024/12/05/asian-markets-live-updates-south-korea-political-turmoil-jerome-powell-comments.html
[4] CNBC Daily Open: U.S. stocks start December chilly; Korea stocks tumble on political chaos [CNBC]
Also, investors are likely awaiting the U.S. jobs report for November, out this Friday, before making any major moves. https://www.cnbc.com/2024/12/04/cnbc-daily-open-us-stocks-start-december-chilly-korea-stocks-tumble-on-political-chaos.html
[5] Stock market today: Wall Street rolls higher as companies talk up AI
On Thursday, the government issues its weekly layoffs report, but the more important labor market data comes Friday in the form of the November jobs report.
[6] Far from a bazooka, China’s stimulus measures are just trickling through the economy [CNBC]
Preliminary economic indicators for November reinforce a picture of improving, but not explosive, growth. https://www.cnbc.com/2024/12/05/chinas-stimulus-measures-are-just-trickling-through-the-economy.html
[7] Far from a bazooka, China’s stimulus measures are just trickling through the economy [CNBC]
Retail sales and industrial data for November are due Dec. 16. https://www.cnbc.com/2024/12/05/chinas-stimulus-measures-are-just-trickling-through-the-economy.html
[8] Three Retail Stocks To Consider For Your Wishlist [Forbes]
Deloitte’s annual holiday retail forecast predicts a 2.3% to 3.3% increase in holiday retail sales for 2024, amounting to $1.58 trillion to $1.59 trillion during the November to January period. https://www.forbes.com/sites/investor/2024/12/04/three-retail-stocks-to-consider-for-your-wishlist
[9] China Market Update: November Electric Vehicle Sales Roar (Silently) [Forbes]
November retail sales reached 1.277 million, which is an increase of +52% year over year (YoY) and up +7% from October. https://www.forbes.com/sites/brendanahern/2024/12/04/china-market-update-november-electric-vehicle-sales-roar-silently
[10] China Market Update: November Electric Vehicle Sales Roar (Silently) [Forbes]
China Market Update: November Electric Vehicle Sales Roar (Silently) [Forbes] https://www.forbes.com/sites/brendanahern/2024/12/04/china-market-update-november-electric-vehicle-sales-roar-silently
[11] CNBC Daily Open: U.S. stocks start December chilly; Korea stocks tumble on political chaos [CNBC]
Also, investors are likely awaiting the U.S. jobs report for November, out this Friday, before making any major moves. https://www.cnbc.com/2024/12/04/cnbc-daily-open-us-stocks-start-december-chilly-korea-stocks-tumble-on-political-chaos.html
[12] Stock market today: Wall Street rolls higher as companies talk up AI
On Thursday, the government issues its weekly layoffs report, but the more important labor market data comes Friday in the form of the November jobs report.
[13] 10-year Treasury yield ticks higher as investors await further job’s data [CNBC]
Investors are keenly awaiting the November jobs report which will be published on Friday — the key economic release due this week. https://www.cnbc.com/2024/12/04/us-treasury-yields-investors-anticipate-further-jobs-data-.html
