WEEKLY BUSINESS ROUNDUP

Global Business Week: How do the big techs make their billions?

The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics

Closing the week on a positive note, U.S. stocks demonstrated upward momentum as market participants looked forward to the extended Christmas holiday weekend. Wall Street’s remarkable bull run persisted for the eighth consecutive week. The week’s positive sentiment was fueled by encouraging economic data, notably the Federal Reserve’s preferred inflation gauge, which showed a lower-than-expected increase.

In November, the core personal consumption expenditures price index inched up by a mere 0.1% from October and registered a 3.2% increase from a year ago. These figures contribute to the narrative that inflation is on a downward trajectory, possibly paving the way for the Federal Reserve to consider lowering benchmark interest rates in 2024. Weekly performance showcased a 0.22% rise for the Dow, a 0.75% gain for the S&P, and a 1.21% climb for the Nasdaq.

The US Dollar Index (DXY) experienced a second consecutive week of losses, slipping to monthly lows below 102.00. Its bearish trend persists, influenced by risk appetite and declining yields. Ongoing market repricing of Federal…