Anti-Clickbait News Summaries for December 27, 2024

U.S. debt ceiling reinstated in 2025 as Republicans propose $1.5 trillion increase

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Today:

As of Friday, December 27, 2024, U.S. financial markets are open and exhibiting the following trends:

Market Indices Performance

• SPDR S&P 500 ETF Trust (SPY): Currently trading at $601.34, showing a slight decrease of 0.02% from the previous close.

• SPDR Dow Jones Industrial Average ETF (DIA): Trading at $433.21, up 0.16%.

• Invesco QQQ Trust (QQQ): At $529.60, down 0.07%.

Notable Stock Movements

• Carnival Corporation (CCL): Shares are at $25.66, a decline of 0.54% from the prior close.

Pre-Market Indicators

• U.S. Stock Futures: Indicate a modest decline, with Dow, Nasdaq, and S&P 500 futures all down around 0.3%, suggesting a slightly lower opening for major indices.

  Investopedia

Key Developments

1. Apple Inc.: Shares are approaching a $4 trillion market capitalization, with a new price target set by Wedbush analysts at $325, following impressive gains this year amidst expectations of an AI-driven upgrade cycle.

   Investopedia

2. Netflix: Announced record streaming viewership for its Christmas Day NFL broadcasts, surpassing previous records with a peak audience of 27 million viewers.

   Investopedia

3. KULR Technology Group: Shares surged over 12% after announcing its first Bitcoin purchase valued at $21 million, part of its strategy to use surplus cash for digital currency.

   Investopedia

4. UnitedHealth Group and Amedisys: The $3.3 billion merger deadline is extended to next year following a court delay due to antitrust concerns, moving Amedisys shares up 3%.

   Investopedia

Economic Indicators

• Treasury Yields: Rising above 4.6% for the first time since May, signaling investor concerns over persistent U.S. inflation and uneven growth.

  The Wall Street Journal

• Unemployment Claims: The number of new unemployment benefit claims has reached the highest since 2018, adding to economic apprehensions.

  The Wall Street Journal

Global Markets

• Japan's Nikkei: Experienced a rise of 1.8%, contributing to a yearly gain of around 20%.

  The Wall Street Journal

• South Korea's Kospi: Dropped 1% amidst political instability, causing a yearly loss of over 9%.

  The Wall Street Journal

• European Markets: Modest increases observed, with the Stoxx Europe 600 rising 0.5%.

  The Wall Street Journal

Cryptocurrency

• Bitcoin: Prices have surged above $96,500, indicating strong interest in digital assets.

  The Wall Street Journal

Investor Sentiment

• Santa Claus Rally: The period known as the "Santa Claus rally," encompassing the final five trading days of December and the first two of January, is currently underway. Historically, this period has been associated with positive market performance, though recent market dynamics may influence this trend.

  Reuters

The Markets:

Futures Highlights
Prices were mixed across commodities and indices, with strong gains in Natural Gas offset by modest declines in major stock benchmarks. Gold slipped slightly, and Crude Oil held onto moderate gains.

• 🟢 Natural Gas: 3.4040 (+0.0850 | +2.56%)

• 🟢 Crude Oil: 70.30 (+0.68 | +0.98%)

• 🔴 Gold: 2636.10 (-17.80 | -0.67%)

• 🔴 Dow: 43533.00 (-169.00 | -0.39%)

• 🔴 S&P 500: 6070.75 (-24.50 | -0.40%)

• 🔴 Nasdaq 100: 21917.25 (-90.75 | -0.41%)

• 🔴 Russell 2000: 2290.20 (-10.30 | -0.45%)

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Forex & Bonds
Major currencies strengthened against the dollar, with the euro and yen both in positive territory. Treasury yields edged lower across all maturities.

• 🟢 EUR/USD: 1.0432 (+0.0041 | +0.39%)

• 🟢 USD/JPY: 157.77 (+0.47 | +0.30%)

• 🟢 GBP/USD: 1.2563 (+0.0033 | +0.26%)

• 🟢 BTC/USD: 96435.10 (+252.00 | +0.26%)

• 🔴 5-Year Treasury: 4.433 (-0.005 | -0.11%)

• 🔴 10-Year Treasury: 4.579 (-0.012 | -0.26%)

• 🔴 30-Year Treasury: 4.762 (-0.003 | -0.06%)

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Major News
Tech names were largely in the red, while a few bright spots emerged in other sectors. Notable standouts include BROS and AMED on the upside, and MSTR leading on the downside.

(Biggest winners to biggest losers)

• 🟢 BROS: +1.84%

• 🟢 AMED: +0.94%

• 🟢 BA: +0.58%

• 🟢 AAPL: +0.32%

• 🟢 XOM: +0.08%

• 🔴 FIVN: -0.02%

• 🔴 NVDA: -0.21%

• 🔴 GOOG: -0.24%

• 🔴 GOOGL: -0.26%

• 🔴 MSFT: -0.28%

• 🔴 META: -0.72%

• 🔴 NFLX: -0.86%

• 🔴 AMZN: -0.87%

• 🔴 TSLA: -1.76%

• 🔴 COIN: -1.86%

• 🔴 MSTR: -4.78%

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