The last quarter-hour of the final session of November was not to be missed, with the three main indices surging +0.5%.

The month is coming to an end in the best possible way, having already established itself as the best and most perfect month of the last 43 years for the S&P500 (+0.38% and 18th session out of 23), which has gained almost +10% over the calendar month.

It is ahead of the Dow Jones (boosted by Salesforce with +9.4%), which gained +1.47% on Thursday, taking its monthly gain to +9%, its best performance since October 2022. But these two indices remain behind the Nasdaq with +11%, despite its -0.23% decline this evening.

As in the previous month, the sectors that underperformed this Thursday were energy, consumer goods, utilities... and, for once, 'technos' and producers of electric vehicles.

After some hesitation, Wall Street came to terms with the inflation figures, which, when released, made it clear that investors were hoping for a 'big good surprise', when in fact it was just a 'good surprise.... as expected'.

The US Commerce Department announced that the 'PCE' index, closely watched by the Federal Reserve, had decelerated to +3.5% in October year-on-year, after +3.7% in September... but the 'core PCE' index was up +0.2% sequentially, as services prices did not contract last month.

In addition, US household income and spending rose jointly by +0.2% in October, a month marked by a slowdown in consumption in the second half. Lastly, weekly jobless claims rose by +7,000 to 218,000.

On the bond market, the yield on 10-year US Treasury bonds edged up by +7 basis points to 4.338%, after testing 4.247%, a new low since September.

On the currency front, the dollar is firmly back on track (+0.75% against the euro, which is down to 1.0885), while some traders are now counting on a first rate cut by the ECB, before the Fed.

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