US stocks closed higher on Thursday, continuing on their strong rally from Wednesday after the Federal Reserve signaled three rate cuts could be coming in 2024. The bout of optimism from the policy shift drove the Dow Jones Industrial Average to another numbing closing high. The better-than-expected retail sales dat out later in the evening added fuel to the Fire, with the figures recording an unexpected 0.3% jump in November, above the expectations for a 0.1% decline.
Analysing the numbers, Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance, commented; “The big move in retail sales shows that, despite fear of a sharp decline or recession, the economy and indeed, the consumer, is alive and well.”
Closing figures on Thursday’s market stood as follows:
In commodities, bonds and crypto:
