Wall Street picked up right where it left off in November today, with the Dow, S&P 500, and Nasdaq all kicking off December with solid wins. The blue-chip scored its fourth win in a row and closed at its highest level since January 2022, while the S&P 500 closed at 2023 highs. Thanks to renewed optimism that interest rate cuts are forthcoming in 2024, all three major indexes also clocked their fifth-straight weekly win.

GOLD GAINS ON POWELL COMMENTS

Oil prices trekked lower, with a news gap in the wake of the Organization of the Petroleum Exporting Countries and its Allies (OPEC+) meeting. Today, January West Texas Intermediate (WTI) crude gave back $1.89, or 2.5%, to settle at $74.07 a barrel. For the week, black gold shed 2%.

Gold prices bounced back today, rising for the third straight week. February gold futures added $32.50, or 1.6%, to settle at $2,089.70 an ounce. The safe-haven asset rose 3% for the week.

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