Stocks extend tech-fueled gains; Bitcoin slides

Bloomberg Rheaa Rao and Andre Janse van Vuuren Machinery stocks drove an advance in global equities with Alphabet Inc and Alibaba Group Holding Ltd notching gains as traders kick off a data-packed week Major US stock indexes extended their ascent with the S P rising and the tech-heavy Nasdaq jumping more than Bitcoin fell again after a weekend rebound and is on track for its worst month since Oil swung between small gains and losses as traders weighed the prospect of a Ukraine-Russia peace deal The US -year Treasury yield declined to Federal Reserve Governor Christopher Waller fueled optimism on Monday after indicating promotion for an interest-rate cut next month New York Fed President John Williams had a similar impact on the territory on Friday after he declared a near-term rate cut remains a possibility While the central bank s December meeting is the next big milestone for markets investors are relying on dated economic records due to delays caused by the US shutdown Related Articles Jill On Money Changes to charitable giving Letters Epstein files release means casualties and women have eventually been heard East Bay man charged in alleged conspiracy to illegally ship powerful AI computer chips to China Meta enters power trading to aid its AI capacity requirements SpaceX s Starship booster appears to burst apart in ground test There s room for different interpretations on how the commercial sector is doing because of ambiguity in the evidence given the lag James Egelhof chief US economist at BNP Paribas declared on Bloomberg Television Monday It s a more disorderly process than what we re accustomed to he commented At the same time we think that Powell wants to keep cutting He has the votes to do that We think the figures is giving a little cover to him to deliver one last rate cut to protect the labor area from gradual deterioration Money markets are pricing in a roughly chance of a Fed rate cut in December after the odds fluctuated in modern weeks amid growing fissures among policymakers and the evidence blackout US stocks are gaining on Monday after a volatile week marked by concerns about lofty AI valuations and lack of clarity regarding the Fed s path ahead UBS Securities trading desk now thinks the selloff in US stocks may have run its syllabus especially with expectations for the Fed lowering rates next month seemingly back on track I believe the combination of a reset of the equity domain and the increased odds of a rate cut in Dec has propelled stocks higher and put the year end melt-up back on the table disclosed Chris Murphy Susquehanna International Group s co-head of derivatives strategy What Bloomberg Strategists Say US stocks enter the shortened Thanksgiving week in an oversold state with new volatility likely to fade and sponsorship a melt-up on broader participation Michael Ball Macro Strategist Markets Live For the full analysis click here Ahead of Thanksgiving and Black Friday September retail figures due Tuesday are expected to show a moderation as consumers remain squeezed by high prices Other material due this week include the producer price index and durable goods orders for September Jobless asserts on Wednesday covering the November survey week will take on added importance as the Fed leans on alternative indicators in the absence of payroll figures There are increasing signs that the financial system remains sluggish which will put additional emphasis on the retail sales release this week although once more the records will be slightly historic revealed Richard Hunter head of markets at Interactive Investor There will be particular hopes that the lately guarded sentiment will at least temporarily be erased Chosen of the main moves in markets Stocks The S P rose as of a m New York time The Nasdaq rose The Dow Jones Industrial Average rose The Stoxx Europe rose The MSCI World Index rose Currencies The Bloomberg Dollar Spot Index was little changed The euro was little changed at The British pound was little changed at The Japanese yen fell to per dollar Cryptocurrencies Bitcoin fell to Ether rose to Bonds The yield on -year Treasuries declined one basis point to Germany s -year yield was little changed at Britain s -year yield was little changed at Commodities West Texas Intermediate crude rose to a barrel Spot gold rose to an ounce This story was produced with the assistance of Bloomberg Automation With assistance from Julien Ponthus Lynn Thomasson Natalia Kniazhevich and Denitsa Tsekova More stories like this are available on bloomberg com Bloomberg L P