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Daily summary: Gains on Wall Street driven by Microsoft

- Stock indices gained at the start of the last full week of November. Positive sentiment is related to increased certainty of no hikes from the Fed and ECB and in the face of a possible ceasefire in the Middle East.

- Gains in technology companies are fueled by news of Sam Altman's move from OpenAI to Microsoft. The company reached new historic highs today, with the US100 testing the 16,000 point level.

- The dollar is losing ground in the broad market on the valuation of a 30% probability of an interest rate cut by the Fed as early as March, although not long ago the market was indicating that the chances of a cut would not come until the middle of next year

- Credit rating agency Moody's maintained Italy's credit ratings at Baa3 and raised the outlook from negative to stable, however. In a comment posted on social media, Economy Minister Giancarlo Giorgetti said he was "satisfied with the result."

- Governor Bailey of the BoE began his speech. Here are some of the most interesting comments: It is far too early to be thinking about rate cuts; I am concerned about second round effect on food; Inflation risks may need more aggressive action. 

- The best performing currency at the moment is the Japanese yen and Antipodean currencies. Large declines are being recorded by the US dollar and the Canadian dollar.

- Oil rose after news that OPEC+ is expected to consider another production cut in the face of uncertainty over demand next year. The decision is expected to take place next Sunday, while oil gained more than 2% today. Brent crude approached $83, while WTI surpassed $78.

- Cryptocurrencies cannot determine a specific direction in the face of the SEC's failure to approve spot ETF filing and the extension of two applications to set up the funds. The SEC is reporting more additional recommendations for applicants. In addition, the DoJ was expected to offer Binance a settlement over investigations into money laundering or fraud, among other things. The DoJ is demanding approximately $4 billion from Binance.

- Gold came under pressure today, although most of the losses were limited in the evening. Gold is losing about 0.3% and is trading around $1975.

PILOT: GOLD drops 1% and tests key support zone
Cardano gains 14% as crypto market extend gains
BREAKING: USD jumps after US NFP data
Chart of the day - EURUSD (08.12.2023)
USDJPY erases earlier drop