Stock Markets Extends Record Highs, US Labor Market Recovers, Bitcoin Hits $100,000: This Week In The Markets
The U.S. stock market posted another week of strong performance, with major large-cap indices such as the S&P 500, the Dow Jones and the Nasdaq 100 extending their record highs.
Technology and consumer discretionary sectors led the gains, driven by several mega-cap tech giants – Apple Inc. (NASDAQ:AMZN), Amazon.com Inc. (NASDAQ:AMZN) and Meta Platforms Inc. (NASDAQ:META) – hitting new peaks.
In November, the U.S. labor market showed robust signs of recovery, with nonfarm payrolls rising by 227,000, up sharply from an upwardly revised 36,000 in October and above expectations of 220,000. The unemployment rate inched up to 4.2%, as expected, while average hourly earnings slightly exceeded forecasts.
The University of Michigan’s consumer sentiment index revealed the most favorable overall …
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