Last updated: 4:00PM EST
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Stock indices finished today’s trading session mixed. Indeed, the Nasdaq 100 (NDX) gained 0.52%, while the S&P 500 (SPX) fell less that 0.01% and the Dow Jones Industrial Average (DJIA) gained 0.16%.
The home construction sector (ITB) was the session’s laggard, as it lost 1.63%. Conversely, the technology sector (XLK) was the session’s leader, with a gain of 0.5%.
Furthermore, the U.S. 10-Year Treasury yield is currently sitting at 3.913%, while the Two-Year Treasury yield hovers around 4.445%.
Last updated:9:30AM EST
Stocks were mixed at open on Friday morning with the Nasdaq 100 (NDX) up by 0.23% while the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) declining by 0.18% each at 9:30 a.m. EST, December 15.
The New York Fed’s Empire State Index, a survey of business conditions in the New York region declined by 24 points from 9.1 in November to -14.5 in December and hit a four-month low. This indicated worsening conditions in the manufacturing side of the U.S. economy. This was below economists’ forecast of a reading of 4.
Meanwhile, New York Federal Reserve President John Williams stated in an interview with CNBC that current interest rates are suitable for controlling inflation and sustaining economic growth. However, he deemed it premature to discuss rate cuts, despite market expectations.
First published:3:39AM EST
U.S. indices inched higher early Friday morning as traders continued to cheer signs of economic resilience. The Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up by 0.28%, 0.23%, and 0.25%, respectively, at 3:08 a.m. EST, December 15.
Yesterday, the DJIA registered a fresh record high for the second straight day, fueled by the Federal Reserve’s forecast for rate cuts in 2024 and upbeat November retail sales data. The other two indexes, NDX and SPX, also finished Thursday’s session on an upward trajectory, nearing their respective all-time highs.
The key economic releases lined up for Friday include December’s S&P Global Manufacturing PMI and Services PMI. This report focuses on business conditions in the manufacturing and service sectors.
On the stock front, major financial institutions like Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS) jumped about 6% yesterday, buoyed by positive market sentiment. Meanwhile, Intel (INTC) edged 1% higher following its unveiling of new computer chips, including the Gaudi3 designed for generative AI software.
Meanwhile, oil prices moved higher, driven by a bullish demand forecast from the International Energy Agency (IEA) for 2024 and a weaker dollar. The WTI crude oil futures are trending up today, near $71.64 as of the last check.
European indices are set for a positive start on Friday, buoyed by the decisions of three major central banks—namely the Bank of England, the U.S. Federal Reserve, and the European Central Bank—to keep existing interest rates unchanged.
Asia-Pacific Markets End Mixed on Friday
Asia-Pacific indices ended mixed on Friday, with Hong Kong’s key index taking the lead, thanks to a surge in Basic Materials stocks. Conversely, Chinese indices declined after retail sales growth in November missed expectations.
Hong Kong’s Hang Seng index closed 2.43% higher, while China’s Shanghai Composite and Shenzhen Component indices ended down by 0.56% and 0.35%, respectively.
At the same time, Japan’s Nikkei and Topix indices finished higher by 0.87% and 0.47%, respectively.
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