NEW YORK/LONDON, Nov 24 (Reuters) - Wall Street stocks were mixed as global stocks headed toward their biggest one-month rally since November 2020 on Friday during a shortened and quiet trading session after the holiday. Thanksgiving Day in the United States.
Oil futures were steady ahead of next week's OPEC+ meeting, which could bring some form of agreement on production cuts in 2024, and gold prices were on track to post a second weekly gain.
MSCI Global Equity Index (.MIWD00000PUS) was down 0.01% as of 9:49 a.m. EST (1449 GMT), but was still on track for an 8.5% monthly gain after investors became increasingly confident that U.S. interest rates have increased. pointed, and the market narrative focuses on the timing of the cuts. .
The Dow Jones Industrial Average (.DJI) rose 68.74 points, or 0.19%, to 35,341.77; the S&P 500 index (.SPX) lost 0.97 points, or 0.02%, to 4,555.65; and the Nasdaq Composite (.IXIC) lost 27.56 points, or 0.19%, to 14,238.30.
The STOXX 600 (.STOXX) The index rose 0.69%, as the broad European FTSEurofirst 300 index (.FTEU3) gained 0.15%.
In geopolitical news, Israel and Hamas A four-day ceasefire began on Friday and militants planned to free 13 hostage Israeli women and children later in the day, the first sign of de-escalation in the nearly seven-week war.
The U.S. central bank has raised benchmark borrowing costs by more than five percentage points since March 2022 as part of a global monetary tightening cycle.
"Weaker (economic) data and weaker inflation in the United States have given markets hope that they will start to see rate cuts," said Peter Doherty, director of investment management at Arbuthnot Latham in London.
"But the debate is whether we should take profits now," he added, given the potential for a "reacceleration of US growth" after the world's largest economy thwarted recession forecasts throughout 2023.
Even as optimism has risen in global markets this month, there may also be a lull as investors position their portfolios for 2024, some analysts said.
US 10-year Treasury yields, which set the tone for borrowing costs around the world, rose to 4.4724% from 4.416% previously. They were still comfortably below the 5% milestone reached last month.
Minutes from the latest Fed policy meeting indicated there would be no further increases unless progress in controlling inflation failed.
The German 10-year bond yield rose for a third session, reflecting European Central Bank officials' pushback against speculation that they were ready to start thinking about cutting rates.
The dollar index, which measures the US currency against six peers, fell 0.33%, approaching a three-month low, as bets on rate cuts reduced the attractiveness of holding dollars.
In Europe, however, markets reflected growing pessimism about central banks easing monetary policy.
Euro zone government bond yields were on track to close the week higher as investors balanced recession fears with comments from European Central Bank policymakers that contradicted market expectations for rate cuts. in 2024.
The 10-year German bond yield has risen 5 basis points in a week.
In the United Kingdom, where the Bank of England is now seen as having to keep interest rates at a 15-year high until the end of next summer, sterling rose to the highest level since early September.
In Asia, Japan's Nikkei stock index (.N225) rose, reaching again the 33-year high reached on Monday.
Data on Friday showed that Japan's core consumer inflation picked up slightly in October, although less than expected.
Mainland China's CSI 300 index fell 0.7% to its lowest close in more than a month, reflecting investor concerns about a property fall and a slow economy.
On Friday, foreign investors sold a net 6.2 billion yuan ($859.8 million) worth of mainland Chinese stocks through the Stock Connect channel, the largest daily outflow in more than a month.
Oil prices held steady after falling more than 1% on concerns about a OPEC+ meeting delayed.
Spot gold prices rose 0.43% to $2,000.44 an ounce.
(1 dollar = 7.2111 Chinese yuan renminbi)
Reporting by Chris Prentice in New York, Naomi Rovnick in London and Stella Qiu in Sydney. Editing by Toby Chopra, Susan Fenton and Mark Potter
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