U.S. stocks hit new record highs, while safe-haven commodities like silver saw significant declines.

U.S. Stock Market Performance (Nov 26):

• Dow Jones rose 0.99% to 44,736.57 points.

• S&P 500 climbed 0.3% to 5,987.37 points.

• Nasdaq Composite added 0.27% to 19,054.84 points.

  
  

  Both Dow and S&P 500 briefly touched record highs during the session.

Bitcoin failed to surpass $100,000, retreating to around $94,000 as investors took profits.

The U.S. Dollar and Treasury Yields:

• The DXY index approached 106.7.

• 10-year U.S. Treasury yields fell to approximately 4.285%.

Gold and Precious Metals:

• Spot gold dropped 3.4% to $2,619.43/oz.

• Gold futures similarly fell 3.4% to $2,620.8/oz.

• January 2025 silver contracts slid 3% to $30.396/oz, while other silver futures dipped to $944.6/oz.

• Copper edged up 0.5% to $4.1215/pound.

Crude Oil Market:

• Brent crude fell 2.87% to $73.01/barrel.

• WTI crude declined 3.23% to $68.94/barrel.

  
  

  Easing geopolitical tensions, including a ceasefire in Lebanon, reduced the likelihood of strict U.S. sanctions on Iran’s oil, which supplies 3.4 million barrels/day as OPEC's third-largest producer.

OPEC+ Expectations:Ahead of this weekend’s OPEC+ meeting, Bloomberg surveys suggest the group may pause planned production increases. OPEC initially scheduled an increase of 180,000 barrels/month from October but delayed it twice due to low prices and demand concerns.

Source: SFVN (Compiled)