Market Movement Summary: The green color dominates the scene, with Bitcoin and gold being the biggest winners!

Recently, financial markets have experienced positive movements in light of the release of a number of important U.S. economic data, primarily the release of the U.S. Purchasing Managers' Index (PMI) readings for November.

In this context, data released by the S&P Global Statistics Office showed that the preliminary reading of the U.S. Manufacturing PMI was in line with market expectations, recording 48.8 points in November, matching predictions that pointed to 48.8 points, compared to the previous reading of 48.5 points in October.

On the other hand, the Services PMI recorded growth of 57.0 points in November, which is above expectations, which indicated a growth recording of only 55.2 points, and it is also higher than the previous reading of 55.0 points in October.

Here's a look at the performance of financial markets:

Performance of Crude Oil Contracts:

Crude oil contracts recorded mixed movements; U.S. crude contracts rose by 1.56% to reach $71.17 per barrel. In contrast, Brent crude contracts fell by 1.20% to settle at $75.14 per barrel. These movements come amid escalating geopolitical tensions between Russia and Western countries, raising concerns about a potential shortage of Russian oil supplies.

Performance of the U.S. Dollar Index:

The Dollar Index achieved gains of 0.39%, settling at 107.44 points, supported by cautious statements from U.S. Federal Reserve members regarding interest rate cuts, in addition to market expectations for a slight decrease in U.S. interest rates of 25 basis points during the upcoming December meeting, according to the FedWatch tool.

Performance of Gold:

Spot gold contracts rose by nearly $40 per ounce, reaching $2,710, despite the rising dollar index. This increase is attributed to growing concerns over tensions between Russia and Ukraine, which reinforced demand for safe-haven assets.

Bitcoin Prices:

Bitcoin recorded a rise of 0.85% to reach $99,258, amid optimism regarding the future of digital currencies, especially following the resignation of U.S. Securities and Exchange Commission Chairman Gary Gensler.

Performance of U.S. Stock Indices:

The Dow Jones Industrial Average recorded an increase of 0.84%, trading near 44,240.43 points. Meanwhile, the S&P 500 rose by 0.36%, trading near 5,970.15 points. The Nasdaq Composite Index also rose by about 42 points, settling around 19,014.72 points.

Read more:

The 5 Most Important Things to Follow in the Markets Next Week