The Latest News:
- U.S. stocks advanced Monday on speculation that China will increase its accommodative monetary policy, Reuters reports.
- After last week’s surprise rate cuts, China said it is ready to cut rates again and to loosen lending restrictions.
- “The carry-over effect from China, taken with the fact that the U.S. is pretty healthy, and you have a market with a bias to trend higher, especially on the cyclical front,” Mike Gibbs, co-head of the equity advisory group at Raymond James, said in the article.
- Investors are also readying for a quiet week ahead of the Thanksgiving holiday and Black Friday, Wall Street Journal reports.
- “Nobody’s going to take risk or take positions ahead of [Thanksgiving],” David Seaburg, head of sales trading at Cowen and Co., said in the WSJ article. “We’re looking at a very light couple of days.”
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Max Chen contributed to this article.