On Thursday, December 19, US markets closed mixed after losing their initial gains. Stocks were mostly flat as the Federal Reserve forecast fewer rate cuts in 2025 and higher inflation. Jobless claims fell and third-quarter GDP was revised upward to 3.1%, supporting the Fed’s view. The Dow Jones ended its ten-session losing streak.
The U.S. economy grew 3.1% in the third quarter, revised upward from 2.8%, while existing home sales rose 4.8% in November to 4.15 million. Initial jobless claims fell by 22,000 to 220,000 in early December, below estimates of 230,000.
Most S&P 500 sectors underperformed, with losses greatest in materials, real estate and energy. On the other hand, utilities and financial services outperformed, closing the session higher.
The Dow Jones Industrial Average rose 0.04% to close at 42,342.24, the S&P 500 closed 0.09% lower at 5,867.08 and the Nasdaq Composite lost 0.10% to end at 19,372. 77.
Asian markets today
- On Friday, December 19, Japan’s Nikkei 225 lost 0.22% and closed the session at 38,723.50, led by losses in stocks in the communications, steel and equipment sectors. transportation.
- Australia’s S&P/ASX 200 index fell 1.24% and closed the day at 8067.00, led by losses in the consumer discretionary, financials and gold sectors.
- India’s Nifty 50 slipped 1.35% to 23,627.45, and the Nifty 500 lost 1.82%, closing at 22,337.55. Losses in the real estate, energy and capital goods sectors led to these declines.
- China’s Shanghai Composite lost 0.06% to settle at 3,368.07, and the Shenzhen CSI 300 tumbled 0.45% to end the day at 3,927.74.
- Hong Kong’s Hang Seng Index lost 0.16% and closed the session at 19,720.70.
The Eurozone at 5:30 a.m. ET
- The European STOXX 50 index was down 1.35%.
- The German DAX fell 1.42%.
- France’s CAC 40 lost 1.30%.
- The UK’s FTSE 100 index fell 1.09%.
- European stocks were heading for their worst week in three months after Trump’s threats of tariffs on the EU unsettled investors already worried about U.S. rates. The STOXX 600 index plunged 1.1%, with major indices and sectors seeing sharp declines, including banks and mining companies.
Commodities at 5:30 a.m. ET
- WTI crude oil fell 2.69% to $68.67 per barrel, and Brent lost 0.99% to $72.16 per barrel.
- Oil prices fell this week on concerns about slowing demand growth in coming years, particularly from China. The market has also been under pressure due to the strong dollar and continued revisions to demand forecasts by OPEC and its allies.
- Natural gas rose 1.95% to $3.654.
- Gold was trading 0.49% higher at $2,620.71, silver was down 0.44% at $29.277 and was up 0.02% at $4.0780.
US stock futures at 5:30 a.m. ET
Dow stock futures fell 0.58%, and S&P 500 futures fell 0.82%. Nasdaq 100 futures lost 1.18%.
Forex at 5:30 a.m. ET
- The U.S. dollar index lost 0.24% to 108.15, USD/JPY fell 0.44% to 156.73, and USD/AUD rose 0.12%. to reach 1.6050.
- The dollar edged closer to a two-year high and records its third consecutive weekly gain as investors expect high U.S. rates for an extended period. Global currencies lost ground, with the yen and euro under pressure.
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