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  • Dec 17, 2024

Stocks Drop Before Fed’s Last Decision of the Year: Markets Wrap

(Bloomberg) -- US stocks declined as traders braced for the Federal Reserve’s widely anticipated rate decision and its forecast for next year.Most Read from BloombergHow California Sees the World, and ItselfThe S&P 500 and the Nasdaq 100 slid 0.4%. The Dow Jones Industrial Average posted its longest losing streak since 1978. The yield on 10-year Treasuries was little changed at 4.40%. Bloomberg’s dollar gauge fluctuated for most of the session.Earlier, data showed that US retail sales increased

  • Dec 17, 2024

Dow Industrials Is Mired in Longest Slide Since 1978

(Bloomberg) -- While US equities churn near all-time highs, one of the most closely watched indexes is mired in its longest losing streak since Jimmy Carter was president.Most Read from BloombergHow California Sees the World, and ItselfThe Dow Jones Industrial Average ended the day 0.6% lower for its ninth straight decline, which marks the blue-chip gauge’s longest losing streak since 1978. The 30-stock index is down 3.5% over that stretch.The Dow industrials has been dragged down primarily by U

  • Dec 17, 2024

Bond Traders Target Deeper 2025 Fed Rate Cuts Than Market Expectations

(Bloomberg) -- Bond traders have been boosting options and futures wagers that the Federal Reserve is about to signal deeper interest-rate cuts next year than the market anticipates.Most Read from BloombergHow California Sees the World, and ItselfA quarter-point rate reduction is seen as practically a lock on Wednesday, so a key focus will be the Fed’s update of its quarterly projections. In September, officials’ median forecast of their policy path — dubbed the dot plot — indicated a full perce

  • Dec 17, 2024

Stock market today: Wall Street trims its stellar gains as Nvidia's star dims again

U.S. stock indexes pulled back on Tuesday to trim some of their stellar gains for the year. The Dow Jones Industrial Average dropped 267 points, or 0.6%, and the Nasdaq composite gave back 0.3% from its record set the day before. Nvidia, the superstar stock that’s been a big reason for Wall Street’s run to repeated records this year, fell 1.2% to weigh on the market.

  • Dec 17, 2024

Wall Street ends lower, oil dips as Fed looms

U.S. stocks closed down on Tuesday and crude prices fell as investors parsed economic data and girded themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve. Bitcoin forged new record highs and benchmark U.S. Treasury yields steadied ahead of what is expected to be a "hawkish cut" from the U.S. central bank. Aside from the Fed, central banks Japan, Britain, Sweden and Norway are all slated to meet this week.

  • Dec 17, 2024

Stocks fall, Dow drops for 9th straight session with Fed decision due

NEW YORK (Reuters) -U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid. U.S. retail sales increased more than expected in November, buoyed in part by an acceleration in motor vehicle purchases, consistent with strong underlying momentum in a resilient economy. Investors were largely focused on the Fed's policy announcement on Wednesday, almost completely pricing in an interest rate cut of 25 basis points.

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