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🔶Major Wall Street indexes notched weekly gains on Friday, as global equities drifted toward their biggest one-month rally since November 2020 during a shortened, muted trading session following the U.S. Thanksgiving holiday.
🔶#Bitcoin rose above $38,000 on Nov. 24, but the bulls could not build upon this strength. This suggests hesitation to buy at higher levels.
🔶Stocks exited a holiday-shortened trading week higher, with the leadership drama at OpenAI and Nivida's (NVDA) latest quarterly report garnering the bulk of investor attention. All three major averages closed the three-and-a-half days of trading up about 1%.
🔶Recent economic data has fallen in line with that path, sending beaten up areas of the stock market like small cap stocks and meme stocks into rally mode.
🔶This data has pushed around expectations for the Fed, too, with markets now pricing in just a 12% chance the Fed raises rates again, according to data from the CME Group.
