Last Updated 4:01 PM EST
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Stock indices finished today’s trading session in the green. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) gained 0.49%, 0.59%, and 0.68%, respectively.
Furthermore, the U.S. 10-Year Treasury yield remained flat at 3.93%. Similarly, the Two-Year Treasury yield was also little changed, as it hovers around 4.44%.
The Atlanta Federal Reserve updated its latest GDPNow reading, which allows it to estimate GDP growth in real time. The “nowcast” becomes more accurate as more economic data is released throughout the quarter. Currently, it estimates that the economy will expand by about 2.7% in the fourth quarter.
This is higher than its previous estimate of 2.6%, which can be attributed to recent releases from the U.S. Census Bureau and the Federal Reserve Board of Governors.
Last Updated: 9:34AM EST
U.S. indices hovered near the flatline on Tuesday morning as the impact of positive comments from the Federal Reserve on interest rate cuts faded. The Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are up by 0.3%, 0.1%, and 0.15%, respectively, at 9:34 a.m. EST, December 19.
Adding to the multi-week rally, both SPX and DJIA are hovering around record-high levels. In November, housing starts surged by 14.8% to 1.56 million. Logistics giant FedEx (FDX) will report its Q2FY24 results today after the bell. On the economic front, no major report is scheduled for release today.
In stock-specific news, Alphabet’s (GOOGL) Google settled an antitrust lawsuit for $700 million. About 50 U.S. states accused the tech giant of stifling competition on the Play Store, impacting Android users. Additionally, Apple (AAPL) made a surprise move after it disclosed plans to halt sales of its Apple Watch Series 9 and Apple Watch Ultra 2 across the U.S. The company fears an import ban following a recent blood-oxygen sensor patent infringement finding by the International Trade Commission.
Meanwhile, oil prices traded down this morning on renewed fears of supply disruptions stemming from escalating geopolitical tensions. The WTI crude oil futures are hovering near $72.35 per barrel as of the last check.
Elsewhere, European markets opened Tuesday morning in the green, aiming to shake off yesterday’s dull session.
Asia-Pacific Markets End Lower on Tuesday
Asia-Pacific indices ended mixed on Tuesday’s trading session.
Hong Kong’s Hang Seng index closed 0.75% lower, while China’s Shanghai Composite and Shenzhen Component indices ended higher by 0.05% and 0.11%, respectively.
At the same time, Japan’s Nikkei and Topix indices finished higher by 1.41% and 0.73%, respectively. Investors reacted positively after the country’s central bank made no changes to its dovish policy guidance at the final 2023 meeting.
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