US Stocks Close at Records as All Three Major Indexes Reach New Highs

According to Zhitong Finance, on Friday, all three major U.S. stock indices reached new closing and intraday historical highs.

Major U.S. stock indices closed mixed on Friday, with the Dow Jones Industrial Average and S&P 500 index setting new closing highs.

The Dow Jones Industrial Average rose 259.65 points, or 0.59%, to close at 43,988.99 points; the Nasdaq Composite Index rose 17.32 points, or 0.09%, to close at 19,286.78 points; and the S&P 500 index rose 22.44 points, or 0.38%, to close at 5,995.54 points.

For the week, the Dow rose 4.61%, the Nasdaq increased by 5.74%, and the S&P 500 gained 4.66%.

Tesla (TSLA.US) rose 8.19%, NVIDIA (NVDA.US) fell 0.84%, Apple (AAPL.US) fell 0.12%, and Amazon (AMZN.US) fell 0.89%.

German DAX 30 fell 153.66 points, or 0.79%, to close at 19,213.95 points; UK FTSE 100 fell 70.12 points, or 0.86%, to close at 8,070.62 points; French CAC 40 fell 86.93 points, or 1.17%, to close at 7,338.67 points; Euro Stoxx 50 fell 49.81 points, or 1.03%, to close at 4,802.15 points; Spanish IBEX 35 fell 15.00 points, or 0.13%, to close at 11,555.10 points; Italian FTSE MIB fell 169.23 points, or 0.50%, to close at 33,812.00 points.

Nikkei 225 fell 0.3%, Jakarta Composite Index rose 0.6%, and KOSPI fell 0.14%.

Bitcoin rose 0.7%, continuing to set new historical highs, trading at $76,447.89, while Ethereum rose over 2%, trading at $2,958.23 per coin.

U.S. WTI crude oil fell 2.7% on Friday. Traders eased concerns over long-term disruptions to crude oil supply due to hurricanes in the U.S. Gulf of Mexico, leading to a decline in oil prices. The futures price of West Texas Intermediate (WTI) crude oil for December delivery fell by $1.98, a decrease of 2.74%, closing at $70.38 per barrel. This futures contract rose approximately 1.3% over the week.

COMEX gold futures fell 0.52%, trading at $2,691.60 per ounce, with a cumulative decline of 2.09% this week. COMEX silver futures fell 2.20%, trading at $3.1410 per ounce, with a cumulative decline of 3.89% this week.

LME copper futures fell by $220, closing at $9,444 per ton. LME aluminum futures fell by $74, closing at $2,620 per ton. LME zinc futures fell by $72, closing at $2,980 per ton. LME lead futures fell by $14, closing at $2,024 per ton. LME nickel futures fell by $190, closing at $16,397 per ton. LME tin futures fell by $169, closing at $31,648 per ton LME cobalt futures closed flat at $24,300 per ton.

U.S. Consumer Confidence Index rises, inflation expected to slow next year. Boosted by Americans' optimism about the future economy and financial situation, the U.S. Consumer Confidence Index climbed to its highest level in seven months in November. The preliminary value of the University of Michigan's Consumer Confidence Index rose to 73, above the expected 71. The expectations index surged to 78.5, the highest since mid-2021. The optimistic outlook also reflects Americans' expectations for slowing inflation. Consumers expect prices to rise by 2.6% next year, the lowest level since 2020. However, expectations for inflation over the next 5 to 10