American exceptionalism seems difficult to dislodge for the moment

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US markets take a break
THE S&P500 slipped 0.19%, the Dow Jones Industrial Average lost 0.55% and the Nasdaq Composite fell 0.18% as traders wait for today's jobs report. Asia-Pacific Markets traded mixed on Friday. India Clever 50 slipped about 0.1% following the country's interest rate decision, while Hong Kong's Hang Seng Index rose about 1.3%.

Indian central bank maintains rates
The Reserve Bank of India left on Friday interest rates unchanged at 6.5%as predicted by economists surveyed in a Reuters poll. Indian central bank balances high inflation and slowing economy: YoY prices rose 6.21% in Octoberwhile the country's gross domestic product in the third quarter increased by a surprisingly low 5.4% from a year ago.

What to expect from the US jobs report
The U.S. nonfarm payrolls report for November will be released later today. After October's staggeringly low 12,000 jobs created — largely attributed to factors such as hurricane disruptions and strikes — economists surveyed by Dow Jones expect the U.S. economy to have 214,000 jobs added in November. The October figure could also be revised upwards.

Crypto continues to ride the waves
THURSDAY, bitcoin crossed the $100,000 mark – although it has since fell from this level at around $98,100. With US President-elect Donald Trump announcement Thursday that venture capitalist David Sacks will be the White House’s “AI and crypto czar,” investor sentiment toward bitcoin could be further strengthened.

[PRO] The world's best picks for 2025
Investment bank Macquarie is bullish on several Asian stocks for next year. These companies cover sectors ranging from automotive to defense and have a upside potential of at least 50%according to the bank.

The United States, in terms of its economy and financial markets, seems to be firing on all cylinders.

Even though the major US indexes fell yesterday, seen in the context of their performance this week, it looks like a slight pause after hitting a series of record closing levels.

And U.S. stocks could continue to reach new highs in the future, according to banking analysts.

“As for the SPX, we believe the index will end 2025 in a range of 6,500 to 6,700,” Scott Wren, senior global market strategist at Wells Fargowrote in a Wednesday note. Taking the upper end of Wren's estimate, this implies a 10% upside from Thursday's close.

If this scenario plays out for the S&P 500, it would mark the third straight year of gains for the broader index. The S&P has already climbed 27.6% since the start of the year, its second largest annual increase of the 21st century, according to German Bank.

The strength of the American stock market is more striking than that of its European counterpart.

“MAGA policy expectations, coupled with Goldilocks data, have revived sentiment in U.S. stocks. In contrast, Europe remains lagging in the face of stagnant growth, tariff threats and a political crisis in France.” Barclays wrote Wednesday. “It is difficult to envision the end of American exceptionalism in the near future, which we predict will remain the model through 2025.”

Likewise, the US economy shows no signs of slowing down. The Federal Reserve Bank of Atlanta forecast US economic growth in the fourth quarter is expected to reach 3.3% on an annualized basis. This is up slightly from its 3.2% estimate earlier this week, and higher than growth of 2.8% in the third quarter.

Jobs are the engine that powers most aspects of the economy. The November jobs report, released later today, will give investors a clearer view of whether U.S. economic and financial growth can continue to surge.

— CNBC's Jesse Pound, Lisa Kailai Han and Sean Conlon contributed to this report.