S&P500 +3.80% (2,165.45) ;NASDAQ +3.78% (5,237.11) ;DJIA +5.36% (18,847.66)
This week’s reports:
- September’s Consumer Credit Change fell to $19.29B from August’s $26.75B. The growth in credit was led by revolving debt.
- September’s Wholesale Inventories rose by 0.1% from August’s +0.2%.
- November’s Michigan Consumer Sentiment (prelim.) rose to 91.6 from October’s 87.2.
- Initial Jobless Claims for the week ending November 4th fell by 11K to 254K. Continuing Jobless Claims for the week ending October 28th rose by 18K to 2,041K.
- Donald Trump had claimed victory in the race for the White House and became the President of United States of America.
- US stocks ended the week with large gains, giving the Dow Jones its best week in five years, as investors speculate how Donald Trump’s policies will impact the economy and interest rates. Small caps in the Russell 2000 surged.