News

Australia S&P Global Services PMI registered at 52.8 above expectations (52.7) in November

Sales at American Eagle’s namesake banner came in worse than expected after the company’s splashy marketing campaign with actress Sydney Sweeney.

Data out:

• Crude +2480K
• Gasoline +3100K
• Distillates +2880K

Expectations for tomorrow’s EIA weekly report are:

• Crude -821K
• Gasoline +1468K
• Distillates +707K

This report is the private sector’s look at US oil inventories. It drops every Tuesday at 16:30 ET (delayed to Wednesday if Monday was a holiday). Unlike the EIA report (the government data that drops Wednesdays), the private numbers are voluntary. It comes from refineries, bulk terminals, and pipelines reporting to the trade association. Discrepancies happen but they often resolve over time.

This article was written by Adam Button at investinglive.com.

It’s a busy day on the economic calendar in Australia today with a sprinkling of Japanese data.

The numbers kick off at the top of the hour with the S&P Global services PMI and composite PMI. At the same time, the Australia Industry Group releases its manufacturing and construction report.

Then at 0030 GMT, Japan’s PMI from S&P Global will be released along side Australian Q3 GDP. It’s the first look at the numbers and, though yesterday’s current account data showed a small drag from trade. That adds some downside risk to the +0.7% q/q reading.

There are no notable central bank speakers.

This article was written by Adam Button at investinglive.com.

The major US stock indices are closing mostly higher with the NASDAQ leading the way. Again comes after declines yesterday that snap five-consecutive days of gains.

A snapshot of the closing levels shows industrial average:

• Dow industrial average rose 185.13 points or 0.39% at 47474.46
• S&P index rose 16.74 points or 0.25% at 6829.37
• NASDAQ index rose 137.75 points or 0.59% at 23413.67

The small-cap Russell 2000 could not reach positive territory. It felt -4.14 points or -0.17% at 2464.98.

Some of the biggest winners today included:

• Boeing (BA): 205.38 | +18.92 (+10.15%)

• Intel (INTC): 43.48 | +3.47 (+8.66%)

• Grayscale Bitcoin (GBTC): 71.25 | +4.33 (+6.47%)

• MicroStrategy (MSTR): 181.33 | +9.91 (+5.78%)

• Bitcoin Futures (BMC): 91,580 | +4,805 (+5.54%)

• DoorDash (DASH): 216.96 | +11.36 (+5.53%)

• BTC/USD: 91,316 | +4,748 (+5.48%)

• Shopify (SHOP): 156.83 | +7.55 (+5.06%)

• United Airlines (UAL): 104.83 | +3.26 (+3.22%)

• Snowflake (SNOW): 259.25 | +7.68 (+3.05%)

• Dell Technologies (DELL): 135.95 | +3.86 (+2.92%)

Reasons Behind Today’s Moves

Boeing (+10.15%)

• Strong rally on relief after reports that the company is nearing resolution on regulatory concerns and receiving improved delivery outlooks from key airline customers.

• Broader industrial sector strength is also contributing to upside momentum.

Intel (+8.66%)

• Shares rose after it was predicted potential supply deal with Apple.

Bitcoin, GBTC, and MicroStrategy (+5–6% range)

• Bitcoin rebounded sharply today, recovering more than 5% after yesterday’s sell-off.

• Risk appetite improved across markets, helping crypto-linked assets rise.

• MicroStrategy continues to trade as a leveraged Bitcoin proxy.

• GBTC follows underlying Bitcoin price action.

DoorDash (+5.53%)

• Benefiting from strong consumer-spending data and improving sentiment on delivery-platform earnings resilience.

• Some analysts issued upbeat notes on margin improvement trends.

Shopify (+5.06%)

• E-commerce sentiment improved on signs of strong holiday-season demand.

• Technical breakout above a short-term moving average added buying interest.

United Airlines (+3.22%)

• Airline stocks are rising on lower oil prices and upbeat travel-demand projections.

• Investors are rotating into cyclicals as recession fears ease.

Snowflake (+3.05%)

• Cloud-software names continue to rebound after recent weakness.

• AI-related product announcements and analyst upgrades earlier in the week are still providing support.

Dell Technologies (+2.92%)

• Ongoing positive sentiment following Michael & Susan Dell’s headline-grabbing $6.25B philanthropic announcement (indirect brand and sentiment lift).

• Broader tech market strength is contributing.

This article was written by Greg Michalowski at investinglive.com.

Amazon Web Services’ two-track approach to artificial intelligence came into better focus Tuesday.

MongoDB said its Atlas platform grew 30% from a year ago as it benefits from AI tailwinds

This year has been big for air taxi technology companies, which have seen a boost from President Donald Trump’s pilot program to develop the sector.

Okta said its benefitting from artificial intelligence widespread product adoption

South Korea FX Reserves up to 430.66B in November from previous 428.82B