Tech Stocks Rally Ahead of Holidays While Broader Economy Shows Further Weakness
• Markets resumed rally in pre-holiday trading after brief decline, with tech stocks leading • Amazon anticipated to benefit from Black Friday and Cyber Monday sales • NVIDIA shares slumped despite strong Q3 results due to downbeat China sales outlook • Economic data showed further weakening, suggesting a “soft landing” for the economy • Fed minutes less dovish than expected but recent soft data adds uncertainty on rate hikes