Nasdaq closes at record as investors prepare for Fed rate decision
Mon December 16, 2024 6:38 PM
With a near certainty for a ¼ point rate cut announcement at this month’s Fed meeting this Wednesday, tech was once again way up, the Nasdaq hitting still another new record, and the Dow continuing to fall as dollars get transferred to the riskier but more profitable tech stocks. This is the 8th consecutive downgrade on the Dow, its worst string of declines in 6 years. Factory production (PMI) came in below forecast and at its lowest level since May 2020. The S&P snapped a three-week winning streak but is still up 27% for the year. The Nasdaq has had four straight weeks of gains. Retail sales comes in tomorrow. Volume is once again finally above the 14 billion average, coming in today at 15.3 billion.
DJ: 43,828.06 -86.06 NAS: 19,926.72
+23.88 S&P: 6,051.09
-0.16 12/13
DJ: 43,717.48 -110.58 NAS: 20,173.89
+247.17 S&P: 6,074.08
+22.99 12/16
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