Morning Report 02 Dec 24: Wall Street ends record-breaking month in positive territory

Wall Street wrapped up a stellar November with strong gains, driven by optimism over lower bond yields, U.S. economic resilience, and expectations of a rate cut. The Dow rose 7.5%, marking its best month in a year, while the NASDAQ surged 6.2%, outpacing Australia's ASX 200, which gained 3.4%. Tesla led the charge in U.S. equities, climbing over 30% in November, while retailers were bolstered by robust Black Friday sales. Locally, Australian home prices slowed in November, reflecting affordability challenges, while the ASX eyes record highs, fuelled by bullish commodity prices and economic momentum from China.

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