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Moving this over from yesterday's recap page.US stocks exploded higher Wednesday. The Dow is now more than 20% above its 52-week low, which puts it in a new bull market. Federal Reserve chair Jerome Powell strongly suggested that the central bank is ready to slow its pace of interest rate hikes. Powell noted that the Fed is still concerned about inflation but that it also does not want to jeopardize the health of the labor market and broader economy either.
Wednesday's rally helped push the markets to their second straight month of solid returns. The three major indexes wrapped up November with gains between 4% and 6%.
The Dow soared more than 735 points, or 2.2%
The S&P 500 rose 3.1%.
The Nasdaq Composite shot up 4.4%.
Watch my key level at 4030JFR wrote:ES 5 minutes. Heading south. 4075 is a key level. And by the time I prepare this post, it is already there. And pushing through.
ES 60 minutes. It has to get through 4040 first. Crazy day.BullBear52x wrote:Watch my key level at 4030JFR wrote:ES 5 minutes. Heading south. 4075 is a key level. And by the time I prepare this post, it is already there. And pushing through.