Wall Street
Market Swings as Bank Gains Clash with Tech Weakness | Daily Market Analysis
Key events: China - GDP (YoY) (Q4) Eurozone - CPI (YoY) (Dec) The stock market saw a reversal on Thursday, with the S&P 500 shedding its earlier gains to close lower. This downturn was fueled by a combination of robust earnings from the banking sector being counterbalanced by a slump in technology stocks, led primarily by Apple. By the end of the session, the Dow Jones Industrial Average had dipped by 68 points, or 0.2%, while the S&P 500 and NASDAQ Composite declined by 0.2% and 0.9%, respectively.
Wall Street Banks' Earnings Fuel Dow's Friday Plunge While Gold Rises Amid Middle East Tensions | Daily Market Analysis
Key events:
US Stock Futures Point Higher as S&P 500 Nears Record; Dollar Sees Year-End Decline Amid Expectations of Fed Rate Cuts | Daily Market Analysis
Key events: USA - Initial Jobless Claims USA - Pending Home Sales (MoM) (Nov) USA - Crude Oil Inventories US stock futures exhibited upward momentum during Wednesday night's trading, building on slight gains observed in the previous session, as major benchmark indices approached all-time highs. Dow Jones Futures, S&P 500 Futures, and Nasdaq 100 Futures were trading within a narrow range of 0.1%.
Dow's Winning Streak in Jeopardy, ECB's Surprising Move, and Key Earnings Ahead
Key events: Japan - BoJ Press Conference USA - Core PCE Price Index (MoM) (Jun) USA - Core PCE Price Index (YoY) (Jun) On Thursday, the Dow Jones Industrial Average was poised to break its longest winning streak in 36 years, indicating that Wall Street's tech-driven rally is expanding to encompass a broader range of the stock market.
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