Recent US Economic Summary

Trump's win has pushed the S&P 500, Nasdaq Composite, and Dow Jones indexes back to their peaks this Monday.

Gold hit a new high of 93,263.0 on Thursday, November 13.

Gold plunged to a low of 2,540.

Also last week, the Fed chairman said the central bank was "in no hurry" to cut interest rates. According to him, the economy is growing well and inflation is still under control. This gives the Fed more time to consider and scale interest rate cuts. In short, lowering interest rates is no longer inevitable at the present time.

This cautious view has reduced market expectations. Causing the S&P 500 to lose 2.1%, the Nasdaq Composite to fall 3.2%, and the Dow Jones to fall 1.2% to end the trading week.

In other developments, retail sales in October were just announced to increase 0.4%, exceeding the forecast of 0.3%.