After three weeks of gains, the global stock market rally took a breather last week.
The global stock market rally continued into its third week last week, with the four major U.S. equity averages all ending the Thanksgiving-shortened week at all-time highs.
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Investors continued to push stocks, bond yields and the dollar higher as it looks more and more like a lock that the Federal Reserve will raise interest rates next month as the U.S. economy expands further.
Donald Trump’s stunning upset victory in the U.S. presidential election sparked a big rally in stocks last week while bond yields spiked to their highest levels since January.
Stocks continued to lose ground as the markets moved into November, weighed down by anxiety about tomorrow’s U.S. presidential election and what many anticipate is the near-certainty of the first Federal Reserve interest rate increase in a year.
After closing mostly lower last week, U.S. stocks are headed for a losing month in October.