5 factors to acknowledge previous to the inventory trade opens up Tuesday, December 17

by addisurbane.com 17 December 2024

written by addisurbane.com 17 December 2024

Listed here are 5 important factors financiers require to acknowledge to start the buying and selling day:

1. Know-how drives

It was all know-how on Wall floor Highway on Monday. TheÂ Nasdaq Composite rose 1.24%, led by technology stocks includingÂ Apple, Google-parentÂ Alphabet, electric car makerÂ TeslaÂ and AI-chipmakerÂ Broadcom, while the tech and consumer discretionary sectors of the S&P 500 also closed at records. The S&P 500 gained 0.38%, but the 30-stockÂ Dow Jones Industrial Average sank 0.25%. It was the eighth day of losses for the Dow, marking its longest run of losses since 2018. Follow live market updates.

2. Fall from grace?

People visit the Nvidia booth during the Apsara Conference 2024 at Yunqi Town in Hangzhou, Zhejiang Province of China, on Sept. 19, 2024.

Long Wei | VCG | Getty Images

What goes up must come down. While the Nasdaq Composite hit another record, Nvidia fell into correction territory Monday, ending the day about 11% off its closing high of $148.88 reached last month. The chipmaker, which has become a favorite AI-related trade, is still up 166% this year. Shares were down again in premarket trading. Fellow chipmaker Broadcom, meanwhile, hit a new high Monday, gaining about 11% and hitting a market cap above $1 trillion on increased price targets from Wall Street. Keith Lerner, co-chief investment officer at Truist, said the market is realizing there are other AI beneficiaries besides Nvidia.

3. Walmart’s watching

Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024.Â

Allen J. Schaben | Los Angeles Times | Getty Images

Walmart is giving some of its store employees body cameras, CNBC’s Gabrielle Fonrouge reported. It’s unclear how many locations are using the recording devices, but some stores have signs in front of entrances alerting customers that they have “body-worn cameras in-use.” The nation’s largest non-government employer appears to be using the technology to deescalate tense situations with customers, according to training materials provided to employees. Read more about the body camera effort here.

4. Fed ahead

Â Federal Reserve Chairman Jerome Powell speaks during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City.Â

Michael M. Santiago | Getty Images

The Fed is likely to cut rates, but some worry that might not be the right move, according to theÂ CNBC Fed SurveyÂ for December. Ninety-three percent of respondents said they see a quarter-point cut coming, but only 63% believe it’s what the Federal Reserve should do. Those surveyed also expect there will be just two more quarter-point cuts, down from three in the last survey. That forecast would bring the funds rate down to 3.8% by December 2025 and 3.4%, or just above the average neutral rate, by the end of 2026. Read more about expectations for inflation and unemployment here.

5. Tick tock

The logos of the social networks X (Twitter), Bluesky, WhatsApp, Threads, TikTok, and Facebook are displayed on the screen of a smartphone in Reno, United States, on November 20, 2024.Â

Jaque Silva | Nurphoto | Getty Images

TikTok has asked the Supreme Court to block a law that could effectively ban the popular social media app. The company wants the high court to hear its appeal before letting the law take effect on Jan. 19. The legislation would require TikTok’s Chinese owner ByteDance to sell the app by that date, or forceÂ GoogleÂ andÂ AppleÂ to stop supporting it on their platforms in the U.S. Meanwhile, President-elect Donald Trump told reporters Monday that he would “take a look at TikTok” when asked about the potential ban, noting he has a warm spot in my heart for TikTok.”

â CNBC’s Brian Evans, Samantha Subin, Ari Levy, Gabrielle Fonrouge, Steve Liesman and Dan Mangan contributed to this report.

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