Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon. Today is Thursday, November 30th, and I'm your host Kim Khan. Our top story so far.

Oil prices are higher, as word from the OPEC Plus meaning is that further production cuts are on the way.

Delegates say OPEC Plus is agreed to an additional cut of 1 million barrels per day, and Saudi Arabia

will also extend its 1 million barrel cut announced in June. Specific cuts by member countries were not yet clear.

Reports say that the member countries will announce their production cuts individually.

Crude prices look on track for a third day of gains.

W.T.I for January delivery is up 1.5% and January Brent is at 1.2%.

In today's trading, the major averages are mixed. The Dow is popping, driven by a post-earnings price jump from Salesforce.

The NASDAQ is lower and the S&P is a little changed.

November will go down as one for the Bulls. The broader market is on track for its best monthly gain since July 2022, up around 8%.

Treasury yields are higher after some very strong data on Midwest manufacturing.

The 10-year yield is back around 4.35% after recently sliding below 4.25% for the first time since mid-September.

Inflation data before the bell continued to show a soft landing is achievable.

The Fed's favorite inflation gauge, the core PCE price index, rose 0.2% in October, with the annual rate falling to 3.5%,

which is a two-year low.

Kathy Jones, who is the chief fixed income strategist at Charles Schwab, says,

after fears of sticky and persistent inflation, the month-to-month slowing in the

core PCCE readings is encouraging. Core PCCE has risen by 0.3% or less for eight consecutive months.

On a three month annualized basis, Core PCE is near the Fed's 2% target.

The six month annualized core inflation rate dipped to 2.5%. It was at 4.5%

six months previously. To be precise, core PCE rose 0.16% last month.

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