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Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Investors Eye Third Rate Cut
Wall Street's “last bear” Stifel: U.S. stocks will fall to 5,000 points by the end of 2025.
① Barry Bannister, the chief investment strategist at Stifel, one of the few bears on Wall Street, expects that U.S. stocks will be below current levels by the end of 2025; ② Bannister believes that persistently high inflation may prompt the Federal Reserve to maintain high interest rates, impacting the stock market's upward momentum; ③ In contrast, other strategists are focusing on the trajectory of economic growth rather than the extent of interest rate cuts.
The Fed Is Poised to Cut Rates Next Week. But 2025 Is Another Matter
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The Nasdaq fell to 0.02 million points, Adobe plummeted more than 13%, the China concept Index rose against the trend, and Bitcoin dropped below 0.1 million dollars.
In November, USA PPI inflation exceeded expectations, with the market betting on a pause in interest rate cuts in January next year. The Dow has fallen for six consecutive days, with NVIDIA experiencing the largest drop of 2.5%. Tesla, Meta, Google, and Amazon have moved away from their highs, uranium mining stocks have declined, but Apple reached a new high. Broadcom rose nearly 5% in after-hours trading, and Chinese stocks Baidu and PDD Holdings increased by over 1%. Bond yields in Europe and the USA have risen significantly, and after the European Central Bank cut interest rates, the euro fell to a one-week low, before rebounding. The dollar reached a two-week high, while the offshore yuan once rose over 200 points, breaking through 7.26 yuan. Commodities generally fell, with spot gold down over 2% and spot silver down over 4% during the session.
