Anti-Clickbait News Summaries for December 21, 2024

Tech giants plan $300 billion investment in AI by 2025, report says

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Today:

Market Performance and Recent Trends

• Recent Market Activity: On Friday, December 20, major U.S. stock indices experienced significant movements. The SPDR S&P 500 ETF Trust (SPY) closed at $591.15, marking an increase of 0.85% from the previous close. Similarly, the SPDR Dow Jones Industrial Average ETF (DIA) rose by 0.94% to $428.54, and the Invesco QQQ Trust (QQQ) gained 0.88%, closing at $518.66.

• Santa Claus Rally: Investors are anticipating a potential "Santa Claus rally," a historical trend where stock prices often rise during the last five trading days of the year and the first two of the new year. This phenomenon is typically attributed to factors such as holiday optimism, year-end tax considerations, and institutional investors adjusting portfolios. Analysts note that while the S&P 500 has shown strong performance this year, the occurrence of a Santa Claus rally could further boost annual gains.

  Investopedia

Government Fiscal Developments

• Government Shutdown Averted: Early Saturday, December 21, the U.S. Senate passed a stopgap funding bill, effectively preventing a government shutdown. This legislative action is expected to alleviate investor concerns regarding potential economic disruptions and may contribute to market stability in the coming weeks.

  Investors

Upcoming Market Events

• Holiday Trading Schedule: With the Christmas and New Year holidays approaching, it's important to note the adjusted trading hours. Both U.S. stock and bond markets will close early at 2 p.m. on Christmas Eve, Tuesday, December 24, and remain closed on Christmas Day, resuming normal operations on Thursday, December 26. Similarly, markets will close early on New Year's Eve and remain closed on New Year's Day.

  Investopedia

• Triple Witching: Friday, December 20, marked the final "triple witching" of 2024, an event where stock options, index options, and index futures expire simultaneously. This occurrence often leads to increased trading volume and volatility, as investors adjust or close positions. The impact of this event may influence market behavior in the sessions following December 21.

  Investopedia

Investor Sentiment and Projections

• Market Outlook: Analysts are closely monitoring indicators that suggest a potential stock market correction in the first quarter of 2025. Factors such as extreme investor optimism and narrowing market breadth are being cited as signals for a possible downturn. Investors are advised to consider these projections when making portfolio decisions in the near term.

  Business Insider

The Markets:

Futures Highlights
Futures saw a broad uptick, with energy leading the way on Natural Gas gains. Equity indexes also pushed higher, suggesting a positive market mood.

• 🟢 Crude Oil: 69.58 (+0.20 | +0.29%)

• 🟢 Natural Gas: 3.7490 (+0.1650 | +4.60%)

• 🟢 Gold: 2640.50 (+32.40 | +1.24%)

• 🟢 Dow: 43283.00 (+486.00 | +1.14%)

• 🟢 S&P 500: 5996.50 (+62.50 | +1.05%)

• 🟢 Nasdaq 100: 21552.50 (+173.50 | +0.81%)

• 🟢 Russell 2000: 2267.40 (+22.00 | +0.98%)

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Forex & Bonds
The US Dollar softened against major currencies, while bond yields slipped across the board—suggesting a potential shift toward safer assets.

• 🟢 EUR/USD: 1.0430 (+0.0071 | +0.69%)

• 🔴 USD/JPY: 156.37 (-1.04 | -0.66%)

• 🟢 GBP/USD: 1.2565 (+0.0064 | +0.51%)

• 🔴 BTC/USD: 97213.00 (-291.10 | -0.30%)

• 🔴 5-Year Treasury: 4.38 (-0.045 | -1.02%)

• 🔴 10-Year Treasury: 4.524 (-0.046 | -1.01%)

• 🔴 30-Year Treasury: 4.716 (-0.024 | -0.51%)

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Major News
Tech names showcased mixed performance, with one surprise standout in BlackBerry. Healthcare took a hit on Novo Nordisk’s drop, while Tesla also slid notably.

Biggest Winners:

• 🟢 BB: +23.83%

• 🟢 NVDA: +3.08%

• 🟢 JPM: +1.99%

• 🟢 AAPL: +1.88%

• 🟢 GOOG: +1.72%

• 🟢 QCOM: +1.66%

• 🟢 GOOGL: +1.54%

• 🟢 LLY: +1.35%

• 🟢 NFLX: +0.78%

• 🟢 AMZN: +0.73%

Losers:

• 🔴 FDX: -0.05%

• 🔴 NKE: -0.21%

• 🔴 SBUX: -0.89%

• 🔴 TSLA: -3.46%

• 🔴 X: -4.98%

• 🔴 NVO: -17.83%

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