U.S.stocks began the week on a bullish note, with major indices closing higher as
investors brace for two crucial events: the release of the U.S. November
Consumer Price Index (CPI) data on Tuesday and the Federal Open Market
Committee (FOMC) meeting on Wednesday.
The
S&P 500 continued its upward trajectory, recording a +0.39% gain and reaching another record
high. The Dow and Nasdaq-100 followed suit, closing with increases of +0.43% and +0.85%,
respectively.
Key Takeaways:
- Tuesday's
Inflation Data: On
December 12th, at 2:30 PM WAT, the U.S. November CPI data will be
released. Economists expect a slight decline in the annual CPI
rate, falling from 3.2% in October to 3.1%. While this suggests a
cooling inflation trend, it remains well above the Fed's target of 2%.
This data is expected to influence future interest rate decisions.
- Wednesday's
FOMC Meeting: After the
two-day FOMC meeting on December 13th, the Fed is widely
anticipated to keep interest rates unchanged at a range of 5.25%
- 5.50%.
- Drivers of
the S&P 500: Monday's
market movement was driven by a surge in semiconductor stocks. Broadcom
Inc. (AVGO) experienced a +9% jump to
a record high, fueled by a "buy" rating from Citi and optimism
surrounding artificial intelligence. This positive sentiment spread across
the industry, leading to a +3.4% gain
for the PHLX semiconductor index (SOX).
Major Indices & Other
Assets
|
Index |
Last
Close |
1-Day
Change |
|
S&P
500 |
4,622.43 |
+0.39% |
|
Dow
Jones |
36,404.94 |
+0.43% |
|
Nasdaq-100 |
16,221.73 |
+0.85% |
|
U.S.
10-Year Treasury Yield* |
4.212% |
-0.99% |
|
Brent
(Oil)* |
$76.65 |
+0.76% |
|
Bitcoin* |
$41,749 |
-0.91% |
*Bitcoin is
a continuously traded asset without a defined closing time. US10YR
and Brent also have different trading hours. The price displayed here
represents their values as of 8:00 am (GMT+1) on Tuesday, Dec. 12th.
Top Gainers
|
Company |
Ticker |
Last
Close |
1-Day
Change |
|
Macy's
Inc. |
M |
$20.77 |
+19.44% |
|
Professional
Diversity Network Inc. |
IPDN |
$2.50 |
+16.82% |
|
The
Cigna Corp. |
CI |
$301.97 |
+16.68% |
S&P-500's Top Gainers
|
Company |
Ticker |
Last
Close |
1-Day
Change |
|
The
Cigna Corp. |
CI |
$301.97 |
+16.68% |
|
Broadcom
Inc. |
AVGO |
$1,029.24 |
+9.00% |
|
Etsy
Inc. |
ETSY |
$84.69 |
+5.76% |
.jpg)
0 Comments