The U.S. equity markets closed the week on a high note, with major indexes like the Dow Jones, S&P 500, and Russell 2000 reaching record intraday highs, driven by strong trading volumes during the Thanksgiving week, despite reduced days of operation.
The nomination of Scott Bessent as Treasury secretary prompted positive investor reactions, but President-elect Trump's unexpected announcement about steep tariffs on imports created turbulence in the markets, showcasing investor sensitivity to domestic policy changes.
Despite some volatility, broader markets remained resilient, with the S&P 500 extending its winning streak to seven sessions, its longest run in over two months—indicating such turbulence may not severely impact investor confidence.
Economic indicators showed mixed results, with personal income soaring 0.6% and home sales exceeding expectations, while Treasury yields fell significantly, reflecting market optimism about the economy's stability after robust consumer activity.
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