Equity markets rebounded in November as stabilization in rates and inflation stirred optimism that lower rates would eventually materialize. The Dow Jones Industrial Average, S&P 500 Index, and the Nasdaq all climbed modestly in November adding valuation to numerous stocks. Developed and emerging market equity markets outperformed U.S. equities in November, propelled by a weakening U.S. dollar as well as lower global interest rates.

Earnings continue to be a focus, especially for companies exposed to consumer sentiment and the economic environment. Many retailers have discounted heavily in preparation for a challenging holiday season.

Sources: Dow Jones, S&P, Nasdaq, Bloomberg, Reuters

Print Version: Equities Propelled by Lower Rate Expectations Global Equity Update Dec 2022

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