28 November 2024 – Nickel prices in Asia and Europe were friendly despite today’s US Thanksgiving holiday. Iron ore prices on SGX up more than 7.3% since mid-November. And S&P 500 on track for success: records and positive outlook.
Nickel price positive despite US Thanksgiving holiday
Nickel prices in Asia showed slight gains on SHFE (+0.5%) and also on the spot market (+0.6%) today despite the US Thanksgiving holiday. On the LME, nickel prices rose by more than 1.0% shortly after the start of trading and traded at around 16.100 $/MT.
Iron ore prices up 7.3% since mid-November
Iron ore prices on the Dalian Commodity Exchange (DCE) and the Singapore Exchange (SGX) have moved sideways today, after gaining almost continuously since mid-November. On the SGX, iron ore prices have thus improved by more than 7.3% since mid-November and currently stand at around $103.7 per tonne.
28 November 2024 – Nickel prices in Asia and Europe were friendly despite today’s US Thanksgiving holiday. Iron ore prices on SGX up more than 7.3% since mid-November. And S&P 500 on track for success: records and positive outlook.
S&P 500 on course for success: records and a positive outlook
The S&P 500 has reached a new all-time high and is impressing with a seven-day winning streak – a rarity that has only occurred 26 times in the last ten years.
With a gain of 28% since the beginning of the year and an increase in value of over 25% in the previous year, the index is showing an extraordinary development that has only been observed five times in consecutive years in over 150 years of history.
The FED’s sentiment indicator points to strong growth
The outlook for the future is also optimistic: the Philadelphia Fed’s sentiment indicator points to strong growth, as expectations for the next six months are at a three-year high. Similar signals are coming from the indicators of the Dallas and Richmond Fed. Analysts are forecasting earnings growth of over 15% for the companies in the S&P 500 in 2024, which promises further potential for the index. Sentiment remains optimistic and the markets could gain further momentum.
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