A Macro Pilgrim's Ledger: Dec 7 – FOMC & Gold Analysis

Get A Macro Pilgrim's Ledger: Dec 7 edition. Unpack the FOMC outlook, gold positioning, and the S&P 500 trend bias. Essential analysis for the week ahead in global markets.

“Walking the path of global markets, one step at a time.”

Global equity markets finished the week with modest gains as investors priced in growing odds of an interest‑rate cut from Federal Reserve. U.S. benchmark indices closed Friday with the S&P 500 up about 0.19 percent, the Dow Jones Industrial Average up 0.22 percent, and the Nasdaq Composite up 0.31 percent.

U.S. Treasury yields rose across the curve, with the 10‑year yield reaching 4.14 percent on Friday. Oil prices also climbed, with Brent Crude rising 0.8 percent to $63.75 per barrel and WTI increasing 0.7 percent to $60.08 per barrel, supported by expectations of a possible Federal Reserve rate cut.

At the same time, geopolitical developments captured investor attention. The U.S. published its new 2025 United States National Security Strategy (NSS), marking a major revision in foreign‑policy direction under the current administration. The NSS emphasizes a pivot toward the Western Hemisphere, reorients strategic focus, and signals a redefined role for the United States abroad.

The confluence of renewed rate‑cut expectations, energy‑market strength, and a fresh U.S. strategic doctrine sets up a complex backdrop for investors.

“The stock market is filled with individuals who know the price of everything, but the value of nothing.” Philip Fisher