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European Stocks Steady as US Shuts for Thanksgiving
European markets steadied following gains in Asia as investors anticipate a potential Federal Reserve interest rate cut in December, with an 85% chance priced in by markets.
- European markets steadied after gains in Asia on Thursday, while Wall Street was closed for the Thanksgiving holiday.
- Expectations of Fed easing next month drove positioning as Fed officials and weak US jobs reports reinforced a December 10 rate cut, with markets pricing an 85-percent chance.
- Market-Level details show modest index and commodity shifts, with Tokyo leading Asian gains, key European indices near flat: FTSE 100 at 9,693.93, CAC 40 at 8,099.47, DAX at 23,767.96, and bitcoin above $90,000, as Trade Nations' Morrison noted.
- Trade Nation's David Morrison said `Investors were unwilling to take on fresh exposure with the US closed for Thanksgiving today`, and markets are cautious ahead of Sunday OPEC/OPEC+ meetings.
- Supply decisions and company-level shocks shaped markets as OPEC+ paused output increases for three months, while Asahi faced a ransomware outage and Upbit halted withdrawals after a $37 million unauthorised transfer amid a Dunamu sale valued at more than $13 billion.
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Coverage Details
Total News Sources58
Leaning Left5Leaning Right16Center8Last UpdatedBias Distribution55% Right
Bias Distribution
- 55% of the sources lean Right
55% Right
L 17%
C 28%
R 55%
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