U.S. indices inched higher on Monday morning after last week’s strong gains. Buoyed by the Federal Reserve’s dovish signals and easing inflation, the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up by 0.01%, 0.21%, and 0.07%, respectively, at 9:31 a.m. EST, December 18.
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Moving on to key economic releases lined up this week, the National Association of Home Builders’ housing market index is set to be released later today. Also, the GDP Growth Annualized Report for the third quarter of 2023 will be released on Thursday. Additionally, the Core Personal Consumption Expenditures and December’s Michigan Consumer Sentiment Index reports are scheduled to be released on Friday.
On the earnings front, companies including FedEx (FDX), Accenture (ACN), Micron (MU), General Mills (GIS), and Nike (NKE) are scheduled to release their financials this week.
Meanwhile, oil prices were trending higher at the time of writing due to growing concerns over oil supply disruptions. The WTI crude oil futures were up, hovering near $71.85 per barrel as of the last check.
Elsewhere, European indices are expected to start the week lower after the European Central Bank turned down hopes for significant rate cuts in 2024.
Asia-Pacific Markets End Lower on Monday
Asia-Pacific indices ended Monday in negative territory as investors await some key economic releases this week. China’s closely watched loan prime rates will be unveiled on Wednesday, followed by Japan’s inflation data on Friday. Additionally, the Bank of Japan will meet for the final policy meeting of the year.
Hong Kong’s Hang Seng index closed 0.99% lower, and China’s Shanghai Composite and Shenzhen Component indices ended down by 0.40% and 1.13%, respectively.
At the same time, Japan’s Nikkei and Topix indices finished lower by 0.64% and 0.66%, respectively.
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