Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Futures muted before shortened Christmas Eve trading

admin by admin
December 24, 2024
in Economy
0
Futures muted before shortened Christmas Eve trading
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

(Reuters) – U.S. stock index futures remained subdued ahead of Tuesday’s shortened trading session, with Wall Street entering a historically strong period before rounding off its second consecutive year of gains.

Few major catalysts are expected to drive market sentiment, with trading volumes expected to be light in the final days of the year, raising the prospect of choppy trading.

Stock markets will shut at 1:00 p.m. ET on Tuesday and will be closed for Christmas on Wednesday.

At 05:15 a.m., Dow E-minis were up 12 points, or 0.03% and S&P 500 E-minis were up 7 points, or 0.12%, and Nasdaq 100 E-minis were up 38.25 points, or 0.18%.

After a stellar run to record highs following an election that sparked hopes of pro-business policies under U.S. President-elect Donald Trump, Wall Street’s rally hit a bump this month as investors grappled with the prospect of higher interest rates.

The U.S. Federal Reserve eased borrowing costs for the third time this year last Wednesday, but signaled only two more 25-basis-point reductions in 2025, down from its September projection of four cuts, as policymakers weigh the possibility of Trump’s policies stoking inflation.

Traders expect the Fed to leave rates in the range of 4% to 4.25% by the end of 2025, from between 3.75% and 4% about 10 days ago, according to CME’s FedWatch tool.

Markets are currently in a historically strong period called the “Santa Clause rally”. The S&P 500 on average has gained 1.3% in the last five days of December and first two days of January, according to data from the Stock Trader’s Almanac going back to 1969.

However, market participants are questioning if U.S. stocks’ climb to new record highs will materialize in the coming days, amid concerns about the health of the market under the surface and sky-high valuations.

The benchmark S&P 500 fell about 1% in December but the equal-weight S&P 500, a proxy for the average index stock, is down 5.8%.

“Expensive/unprofitable growth stocks and low-quality cyclicals appear to be the most vulnerable to potentially higher-for-longer interest rates and less liquidity,” Michael Wilson, equity strategist at Morgan Stanley (NYSE:MS), said in a note.

The S&P 500 and the Nasdaq notched two consecutive sessions of gains on Monday, helped by gains in a handful of megacap and growth companies.

Among individual stocks, U.S. Steel fell 2.3% in premarket trading as Nippon Steel’s $15-billion bid for the company has been referred to U.S. President Joe Biden, who has long opposed the tie-up.

This post appeared first on investing.com

Previous Post

Japanese PM Ishiba: important to strengthen US-Japan alliance

Next Post

Fed will be forced to ease by ‘more than 50 bps’ next year: BCA

admin

admin

Next Post
Fed will be forced to ease by ‘more than 50 bps’ next year: BCA

Fed will be forced to ease by ‘more than 50 bps’ next year: BCA

Trending News

How Warren Buffett plays US stocks during uncertain times

How Warren Buffett plays US stocks during uncertain times

April 30, 2025
Tether mints $1 billion USDT on Tron, signalling rising crypto demand

Tether mints $1 billion USDT on Tron, signalling rising crypto demand

June 9, 2025
Shizuoka Gas acquires US shale stake from Tokyo Gas in $130M deal

Shizuoka Gas acquires US shale stake from Tokyo Gas in $130M deal

February 21, 2025
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.