Yahoo Finance Yahoo Finance Sign in Search query Search for news or symbols Bloomberg US Stock Futures Advance; Yen Rises on Inflation: Markets Wrap US Stock Futures Advance; Yen Rises on Inflation: Markets Wrap · Bloomberg Divya Patil and John Viljoen Fri, November 29, 2024 at 2:29 PM GMT+6 4 min read Global health coverage for remote workers and nomads Nomad Health by SafetyWing Ad (Bloomberg) -- US equity futures gained Friday, with the S&P 500 on course for its strongest month since February, while the yen strengthened as Tokyo inflation data exceeded estimates. Most Read from Bloomberg In Traffic-Weary Toronto, a Battle Breaks Out Over Bike Lanes In Italy’s Motor City, Car-Free Options Are Growing New York City’s ‘Living Breakwaters’ Brace for Stormier Seas The dollar headed for its biggest weekly loss in three months as investors start to rethink the so-called Trump trade that has driven gains in the currency since the US election. Treasury yields fell as cash trading resumed after the Thanksgiving holiday. European stocks were little changed, although miners outperformed, boosted by optimism that China will adopt further measures to stimulate its economy. Anglo American Plc rose 2.6% after an analyst upgrade. US futures contracts pointed to modest gains in Friday’s shortened, post-holiday trading session on Wall Street. The S&P 500 is set to add to gains of more than 5% in November, part of an advance of 26% in 2024 fueled by a handful of tech titans that has made this among the strongest years this century for the index. Meanwhile in Asia, shares in China gained amid speculation that Beijing will provide more support for the economy at a key policy meeting in December. The nation also extended tariff exemptions on select American items, implying it may be less willing to take a hard line amid US trade tensions. US The yen rose to the highest level in more than a month against the greenback, strengthening past 150 for a time. The dollar slipped against major currencies, with an index of greenback strength headed for its first weekly decline in two months. Equities in Australia and Japan fell, while South Korea’s declined most in the region as a surprise interest-rate cut by the central bank shifted investor focus to slowing economic growth. MSCI’s regional equity gauge rose 0.2% Friday, though was on track for a second straight monthly loss. Gains for Japan’s currency were helped by Tokyo inflation data that showed prices rose more than expected on a headline basis, but broadly in line with estimates once fresh food and energy were excluded. Swaps market pricing indicates a more than 60% chance the Bank of Japan will raise interest rates when it meets next month. “Strong Tokyo CPI reading looks to have again supported further strengthening,” said Alan Lau, FX strategist at Malayan Banking Bhd. “With a BOJ December 25 basis point hike looking increasingly likely, we see that USD/JPY would sustainably break below the key 150.00 support and move lower to test the 142.00 level where it had failed to decisively go below in September”