London, Friday, 25 November 2022
In abbreviated trading on Friday, the Dow Jones gained more than 150 points, but the S&P 500 saw little movement as investors re-evaluated the outlook for monetary policy and searched for indicators of consumer health as Black Friday shopping got underway.
The announcement that the FTC planned to bring an antitrust case to stop Microsoft from acquiring the videogame publisher caused shares of Activision Blizzard to settle down more than 4% lower than the market average, underperforming the Nasdaq and losing nearly 0.5%.
Investors also considered China's most recent action, in which the central bank reduced the reserve requirement ratio for banks by 25 basis points to support growth in an economy still suffering from real estate problems and persistent limitations brought on by the coronavirus.
Investors continued to analyse the minutes from the most recent Fed meeting, which showed that officials saw the need for more gradual interest rate increases while also acknowledging a growing danger of a recession. The Dow, S&P 500, and Nasdaq all saw weekly gains of 1.8%, 1.5%, and 0.7%, respectively.
(Report by: The Decision Maker - Finance editors)