Weakness in tech stocks dragged market indexes down on the first day of the new year. Oil prices gained amid persistent security issues in the Red Sea, raising supply disruption worries.
The S&P 500 index and the Nasdaq Composite soared in 2023 after inflation cooled and the U.S. economy avoided the widely forecasted recession amid rising prospects of rate cuts in 2024.
The S&P 500 index traded near a record high and attempted to surpass its previous high in January 2022. The three widely followed benchmark indexes are set to extend their weekly gains for the ninth consecutive week.
Stocks on Wall Street advanced and benchmark indexes hovered near their recent highs as investors remained optimistic about possible rate cuts in early 2024. The euro traded at a five-month high, and gold hovered near its recent high after the dollar index drifted lower.
U.S. market indexes extended their gains in thin trading, and crude oil advanced amid elevated tensions in the Red Sea. The dollar index drifted lower to a five-month low in the hopes of a rate cut in early 2024.
U.S. benchmark indexes attempted to extend the rally to the eighth week, and Treasury yields hovered near recent lows. Bristol Myers agreed to acquire Karuna Therapeutics and expand its portfolio of neuroscience-related products.
U.S. stocks rebounded and Treasury yields hovered near 5-month lows after weekly jobless claims indicated tight labor market conditions. Crude oil prices dropped after the U.S. daily production surged to a new record high and Angola announced its plan to leave OPEC+.
The GDP growth for the third quarter was revised down slightly, but it was still much higher than for the second. Weekly jobless claims were nearly unchanged from the previous week, suggesting tight labor market conditions.
Stocks continued to advance and benchmark indexes flirted near record highs. Existing home sales expanded in November, ending the decline of five consecutive months and median home price advanced for the fifth month in a row.
Stocks struggled in early trading, and market indexes turned lower as investors reassessed the economic outlook and rate path. Treasury yields drifted lower, and crude oil prices rose to a two-week high on the rising tensions in the Red Sea.
Benchmark indexes on Wall Street advanced, and the yield on 10-year Treasury notes hovered around the lows seen in July. Gold jumped to a two-week high after the U.S. dollar eased.
Stocks rested and the dollar hovered near the year's low as investors debated the future rate path and awaited the personal income and outlays report. Housing starts unexpectedly rose in November.
U.S. market indexes advanced, Treasury yields dropped to five-month lows, and the dollar index drifted lower, despite policymakers stressing talks of rate-cut expectations are premature and inflation is still above target.
Stock market indexes advanced in early trading, and investors overlooked cautious comments from policymakers. The dollar index edged lower, and Treasury yields hovered near recent lows.
Stocks advanced in Friday's trading, and major market averages are set to extend their gains to the seventh week in a row. Crude oil rebounded, gold edged higher, and the yield on the 10-year Treasury notes drifted lower.
