Activity in service sector unexpectedly improved in Nov, beating economists' expectations. Job openings dropped to 8.733 million in Oct, raising concerns about cooling labor market.
Stocks opened the first week of December with significant losses, driven by some emerging concerns of exaggerated rate cut speculations within the trading community.
The S&P 500 index rose 8.9% in Nov, tech stocks (Nasdaq 100) up 10.8%. Bond yields dropped; metal commodities thrived as the Fed hinted at rate cuts in 2024. VIX at pre-pandemic low; Berkshire Hathaway relying on 'buy & hold' thesis.