Stocks Rise Following CME Mess, Reversing November Loss – US Market Wrap

US equities rose in light trade after the CME had a technical failure that hampered premarket activity. Bonds edged lower. The S&P 500 climbed 0.5% in a post-holiday truncated session, bringing it back within striking distance of all-time highs. As trading ended at 1:00 p.m. on Friday, volume was more than 25% lower than the 30-day average. Previously, a data-centre failure affected many markets, with the problem lasting longer than a comparable outage in 2019.
The Nasdaq 100 climbed 0.8%, with Intel among the top gainers. Amazon shares rose 1.8%, and Walmart set a new record on what is normally one of the busiest shopping days in the United States.
Foreign currency markets, which had continued to trade throughout the day, showed no significant volatility after the EBS platform reopened at 7:00 AM ET.
Expectations that the Federal Reserve will drop interest rates faster than expected spurred a late-month rally in US markets.
The greatest weekly gain in five months ended a tumultuous November as soaring technology company values sparked concern on Wall Street. The increase boosted the broader barometer of US stocks, extending its seven-month winning record. However, investors’ shift away from artificial intelligence winners and toward defensive sectors like health care caused the tech-heavy Nasdaq 100 to post its first monthly loss since March.