U.S. Show Notable Rebound But Post Steep Weekly Losses

Market Performance - Stocks showed a notable increase after a lack of direction early in the session, with major averages moving higher following a downturn on Thursday [1] - The Dow surged by 493.15 points (1.1%) to 46,245.41, the Nasdaq advanced by 195.03 points (0.9%) to 22,273.08, and the S&P 500 jumped by 64.23 points (1.0%) to 6,602.99, although all major averages posted steep weekly losses [2] Interest Rate Outlook - The strength in Wall Street may reflect renewed optimism about the Federal Reserve potentially lowering interest rates at its next meeting in December, with the chances of a quarter-point rate cut rising to 71.5% from 39.1% [3] - New York Federal Reserve President John Williams indicated that monetary policy is "modestly restrictive" and sees "room for a further adjustment" to rates [4] Sector Performance - Housing stocks performed well, with the Philadelphia Housing Sector Index soaring by 4.0% [5] - Airline stocks also showed substantial strength, as evidenced by a 3.0% surge in the NYSE Arca Airline Index, along with strong performances in biotechnology, oil service, healthcare, and computer hardware sectors [6] Global Market Trends - In overseas trading, stock markets in the Asia-Pacific region experienced sharp declines, with Japan's Nikkei 225 Index and Hong Kong's Hang Seng Index both falling by 2.4%, and South Korea's Kospi nosediving by 3.8% [6] - European markets had mixed performances, with the German DAX Index sliding by 0.8%, while the French CAC 40 Index remained stable and the U.K.'s FTSE 100 Index inched up by 0.1% [7] Bond Market - In the bond market, treasuries continued their upward movement, leading to a decrease in the yield on the benchmark ten-year note by 4.3 basis points to 4.063% [7] Economic Data Impact - Upcoming trading may be influenced by the release of long-delayed U.S. economic data, including reports on retail sales, producer prices, and durable goods orders [9]