Anti-Clickbait News Summaries for December 17, 2024

TikTok Shop sees rapid growth as potential U.S. ban looms

Hi, it’s Jack and the Daily Moat team with your daily news summaries 😇

Happening Today:

Federal Reserve

• FOMC Meeting Begins - Day 1 of the two-day meeting

  • Final Fed meeting of 2024

  • Rate decision and projections to be announced tomorrow ¹

Economic Data Releases

• 8:30 AM ET: Housing Starts (November)

• 8:30 AM ET: Building Permits (November)

• 9:15 AM ET: Industrial Production (November)

• 9:15 AM ET: Capacity Utilization (November) ²

Notable Earnings Reports

• FedEx (FDX) - After market close

• General Mills (GIS) - Before market open

Treasury Activities

• 52-week Treasury Bill auction

• 20-year Treasury Bond auction

Market Context

• Second trading day of crucial Fed week

• Markets processing the previous day's economic data

• Positioning ahead of tomorrow's Fed decision

• Year-end portfolio rebalancing continues

The Markets:

Futures Highlights

Overall, global futures show a downward trend today, suggesting caution and potential profit-taking. Commodities and major indices are dipping, reflecting broad market uncertainty.

• 🔴 Crude Oil: 69.50 (-0.79 | -1.12%)

• 🔴 Natural Gas: 3.2000 (-0.0140 | -0.44%)

• 🔴 Gold: 2657.90 (-12.10 | -0.45%)

• 🔴 Dow: 44062.00 (-198.00 | -0.45%)

• 🔴 S&P 500: 6129.50 (-24.50 | -0.40%)

• 🔴 Nasdaq 100: 22346.25 (-61.75 | -0.28%)

• 🔴 Russell 2000: 2378.70 (-12.70 | -0.53%)

Forex & Bonds Highlights

Currencies are mixed, with the dollar strengthening slightly against the euro and yen, while pound and bitcoin rise. Bond yields present a mixed bag, hinting at a delicate balance in debt markets.

• 🔴 EUR/USD: 1.0498 (-0.0013 | -0.12%)

• 🔴 USD/JPY: 153.74 (-0.36 | -0.23%)

• 🟢 GBP/USD: 1.2703 (+0.0021 | +0.17%)

• 🟢 BTC/USD: 107527.90 (+990.90 | +0.93%)

• 🟢 5-Year Treasury: 4.254 (+0.006 | +0.14%)

• 🔴 10-Year Treasury: 4.397 (-0.002 | -0.05%)

• 🔴 30-Year Treasury: 4.608 (-0.007 | -0.15%)

Major News Stocks

Major tech and chip names are showing strong upside, with AVGO and TSLA leading the gains, while JG and BABA lag behind. Market sentiment favors a few standouts, while others struggle in a choppy environment.

Biggest Winners:

• 🟢 AVGO: +11.21%

• 🟢 TSLA: +6.14%

• 🟢 GOOGL: +3.60%

• 🟢 GOOG: +3.54%

• 🟢 AMZN: +2.40%

• 🟢 AAPL: +1.17%

• 🟢 MSFT: +0.97%

• 🟢 BLK: +0.77%

• 🟢 META: +0.63%

Losers:

• 🔴 MSTR: -0.04%

• 🔴 BAC: -0.44%

• 🔴 GM: -0.55%

• 🔴 PFE: -1.29%

• 🔴 NVDA: -1.68%

• 🔴 BABA: -2.00%

• 🔴 JG: -8.47%

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