Last updated: 4:00 PM EST
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Stock indices finished today’s trading session mixed. Indeed, the Nasdaq 100 (NDX) lost 0.15%, while the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) gained 0.26% and 0.43%, respectively.
The consumer staples sector (XLP) was the session’s laggard, as it lost 1.47%. Conversely, the home construction sector (ITB) was the session’s leader, with a gain of 6.17%.
Furthermore, the U.S. 10-Year Treasury yield is currently sitting at 3.915%, while the Two-Year Treasury yield hovers around 4.384%.
Last updated: 9:34 AM EST
U.S. indices trended higher early Thursday morning as traders continued to celebrate the dovish remarks from the Federal Reserve. The Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up by 0.58%, 0.50%, and 0.13%, respectively, at 9:34 a.m. EST, December 14.
While yields continued to recede, weekly initial jobless claims came in at 202,000 (a drop of 19,000). Further, November retail sales advanced by 0.3% over the prior month and core retail sales increased by 0.2%.
All three major U.S. stock indices closed higher yesterday and reached new 52-week highs. The upside comes after the Federal Open Market Committee (FOMC) maintained the 5.25%-5.5% interest rate range, in line with market expectations. Further, the FOMC’s dot plot, which reflects individual members’ rate forecasts, signaled at least three rate cuts in 2024, contributing to the market rally.
Meanwhile, key economic releases lined up for Thursday include November’s retail sales data from the U.S. Census Bureau. This report focuses on consumer spending habits and buy-side inflationary pressures.
Moving on to stock-specific news, discount store operator Costco (COST) is likely to be in the spotlight today. The company is scheduled to release its fiscal first-quarter results after the market closes. Currently, Wall Street expects COST’s earnings and revenue to have improved year-over-year. Meanwhile, WTI crude oil futures are trending up today, near $69.86 as of the last check.
Elsewhere, European markets are expected to open higher on Thursday ahead of interest rate decisions from the European Central Bank and Bank of England.
Asia-Pacific Markets End Lower on Thursday
Asia-Pacific indices mostly fell on Thursday. Hong Kong’s Hang Seng index finished higher by 0.81%, while China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.33% and 0.62%, respectively.
Similarly, Japan’s Nikkei and Topix indices slipped by 0.73% and 1.43%, respectively, as Japanese investors are awaiting the Bank of Japan’s policy decision next week.
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