Hopes that the economy can avoid a recession and that the Federal Reserve Will cut interest rates next year.—have been reverberating in global markets. Treasury bonds continued to rise on Wednesday, while gold prices have risen.
Investors also assimilated the death of Charlie Munger as a tribute Turned. Big question: What's next for Berkshire Hathaway?
U.S. stocks faltered. The S&P 500 and Nasdaq finished modestly lower, while the Dow industrials were broadly flat.
The yield on the 10-year Treasury bond fell to around 4.27%, down from 4.335% yesterday. It started the month above 4.8%.
Gold futures rose for the fourth consecutive session at $2,047.10 per troy ounce, the highest level since May and within striking distance of its record reached in August 2020.
Correction: Gold futures rose for the fourth consecutive session to $2,047.10 a troy ounce. An earlier version of this article said prices reached $2,407.10 per troy ounce.
