Global markets experienced fluctuations on Monday, with U.S. and European stocks ending the day mixed. The U.S. dollar strengthened against the euro due to improved U.S. manufacturing data and ongoing political drama in France. These developments kept traders cautious but optimistic.
In France, political turmoil heightened as lawmakers proposed a no-confidence motion against Prime Minister Michel Barnier. This move, expected to cause governmental instability, influenced French equities, which closed nearly unchanged after volatile trading. Meanwhile, broader European shares showed resilience, rising 0.66% by the end of the day.
In the U.S., manufacturing data for November indicated moderate contraction but included optimistic signals. For the first time in eight months, new orders increased, and input prices for factories significantly decreased. This data points to improving conditions in the industrial sector.
Technology stocks played a pivotal role in Wall Street's mixed performance. Meta Platforms (NASDAQ:META) and Amazon.com Inc. (NASDAQ:AMZN) led gains, with respective increases of 3.2% and 1.4%. However, Intel (NASDAQ:INTC) faced challenges, slipping 0.5% following its CEO's retirement announcement.
Major indices reflected these mixed outcomes: the Dow Jones Industrial Average fell 0.29% to 44,782, the S&P 500 climbed 0.24% to 6,047, and the Nasdaq Composite gained about 1%, reaching 19,403.
Adding to the optimism, strong Black Friday spending figures exceeded expectations. Notably, e-commerce sales demonstrated robust performance, highlighting consumer confidence despite broader economic concerns.
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