Today’s Outlook:

 

• US MARKET : At the closing of NYSE, the Dow Jones Industrial Average fell 31 points, or 0.1%, the S&P 500 gained 0.1%, and the NASDAQ Composite climbed 0.2%. The S&P 500 eked out a gain Thursday, as investors awaited further catalysts, a day ahead of a closed-monitored inflation measure that will likely play a role in the Federal Reserve’s policy-setting meeting next week.

The number of Americans applying for first-time unemployment benefits declined to a three-year low last week. Seasonally-adjusted initial jobless claims came in at 191,000 in the week ending on November 29, according to Labor Department data. It was a decrease of 27,000 from an upwardly-revised level of 218,000 in the prior week, and the lowest mark since September 2022. The labor market comes ahead of key inflation data slated for Friday.

Adding to the dovish sentiment is growing speculation over the next Fed leadership. Reports that the Trump administration abruptly cancelled interviews with other Fed chair candidates have strengthened the view that Kevin Hassett — widely perceived as more dovish than current chair Jerome Powell — could take the helm in 2026.

 

 

• EUROPEAN MARKET : European stocks rose Thursday, continuing the recent positive tone ahead of next week’s expected Federal Reserve rate cut, with eurozone retail sales reported. The DAX index in Germany climbed 0.9%, the CAC 40 in France gained 0.4% and the FTSE 100 in the U.K. rose 0.2%.

Construction activity data for the eurozone region was reported at 45.4, above the forecast of 45.1. However, most eyes were on the retail sales numbers for October.

Retail sales in the eurozone for October on a monthly basis came in flat at 0% compared to 0.1% seen the prior month. The consensus estimate was 0.1%.

The European Central Bank also meets later this month, but, unlike the Fed, is widely expected to keep interest rates unchanged at its final meeting of the year. ECB President Christine Lagarde stated on Wednesday that core inflation indicators are in line with the central bank’s target and that inflation will remain close to the bank’s 2% target in the coming months

 

• ASIAN MARKET : Most Asian stock markets were largely subdued on Thursday, tracking modest gains on Wall Street amid expectations for a Federal Reserve rate cut, while Japanese shares rose sharply with gains in tech, chipmakers.

China’s blue chip Shanghai Shenzhen CSI 300 edged 0.3% higher, while the Shanghai Composite index was muted. Hong Kong’s Hang Seng index ticked up 0.7%. Despite the cautious tone elsewhere, Japanese shares bucked the regional trend, with the Nikkei 225 jumping 2.3% lead by tech and semiconductor stocks.

 

 

• COMMODITIES: Oil prices settled up on Thursday on investors’ expectations for the Federal Reserve to cut interest rates, while stalled Ukraine peace talks tempered expectations of a deal restoring Russian oil flows. Brent crude settled up 59 cents, or 0.94%, to USD 63.26. U.S. West Texas Intermediate settled up 72 cents, or 1.22%, to USD 59.67. U.S. crude futures briefly rose more than USD 1 a barrel earlier in the session as global shares rose, powered by expectations that a U.S. rate cut will support the world’s largest economy and oil demand, after data showed employment is slowing. The dollar was lower, poised for its 10th straight day of losses against a basket of major currencies, making crude cheaper for buyers using other currencies.

 

 

 

• INDONESIA : The JCI closed higher, up 0.33% to 8,640.2. The current support level remains above the 8,400–8,450 range as the next key support, while medium-term resistance is seen at the psychological level of 9,000.

Heading into December, market rotation still appears to be shifting back toward conglomerate stocks, including the Hapsoro and Salim-Bakrie groups, as well as the high-speed internet ecosystem. Investors are advised to continue closely monitoring each stock using individual trailing stops, while also paying attention to the index’s levels and movements when trading conglomerate-related stocks, and staying alert to domestic catalysts and sentiment to capture trading opportunities

 

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