After three weeks of gains, the markets trimmed down slightly last week taking a bit of a breather before the Federal Reserve meeting for December concludes tomorrow when the markets expect a 0.25% drop in the short-term borrowing rate.

U.S. equity markets notched a third consecutive week of gains last week pushed forward by rising expectations for another interest rate cut by the Federal Reserve at its final monetary policy committee meeting of the year later this month.

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U.S. stock indexes surged in November, recording the sixth positive result out of the past seven months and recovering from a slightly negative October.

U.S. equity markets rebounded higher last week and sit just below all-time highs as investors are feeling bullish heading into year end, evidenced by a seventh consecutive week of inflows into U.S. equities despite elevated valuations.