On December 12, 2024, Wall Street closed lower as investors evaluated economic indicators ahead of the Federal Reserve meeting. The Dow Jones, S&P 500, and Nasdaq Composite all posted losses, with Adobe leading tech sector declines due to a weak revenue forecast. While producer prices rose more than expected, service costs signaled disinflation. Investors remain cautious as unemployment claims unexpectedly climbed, raising concerns about labor-market resilience, with markets still anticipating a 25-basis-point rate cut next week.
Tag: inflation data
Daily Market Snapshot: December 11, 2024
On December 11, 2024, the Nasdaq Composite surged above 20,000 points, setting a new milestone as tech stocks rallied on optimism about a potential Federal Reserve rate cut. The S&P 500 gained, while the Dow Jones dipped, dragged by losses in the healthcare sector. Key stocks like Nvidia, Tesla, and Broadcom posted strong gains, while new legislation targeting pharmacy benefit managers weighed on healthcare shares. An in-line inflation report reassured investors, supporting a bullish sentiment ahead of next week’s Fed meeting.
Daily Market Snapshot: November 14, 2024
On November 14, 2024, U.S. stocks dipped as Federal Reserve Chair Jerome Powell cooled hopes for a December rate cut. The Dow, S&P 500, and Nasdaq declined, with defense stocks weighing on industrials while Disney’s earnings bolstered communication services.
Daily Market Snapshot: October 8, 2024
U.S. stock markets rebounded on October 8, 2024, with the Dow Jones rising 0.30%, the S&P 500 climbing 0.97%, and the Nasdaq gaining 1.45%. Easing Treasury yields and strong buying in technology stocks like Nvidia and Palantir Technologies fueled the recovery. Investors are now turning their attention to upcoming inflation data and third-quarter earnings reports.
Daily Market Snapshot: September 27, 2024
U.S. stocks closed mixed on September 27, 2024, with the Dow Jones hitting a record high. The S&P 500 edged lower, while the Nasdaq Composite fell 0.39%. Investors are hopeful for further Fed rate cuts as inflation continues to ease
Daily Market Snapshot: September 24, 2024
U.S. stocks surged to record highs on September 24, 2024, as China’s stimulus package lifted mining stocks and the S&P 500 gained 0.25%. The materials sector outperformed, with Freeport-McMoRan rising nearly 8% on higher metal prices.
Daily Market Snapshot: September 12, 2024
U.S. stock markets rebounded on Thursday as inflation data reinforced expectations for a 25-basis point rate cut by the Federal Reserve. The S&P 500 rose 0.75%, while small-cap stocks outperformed, and Moderna fell after weak revenue forecasts.
