Anti-Clickbait News Summaries for December 23, 2024
Global stocks rally as US markets drive gains in 2024
Hi, itβs Jack and the Daily Moat team with your daily news summaries π
Today:
On Monday, December 23, 2024, several events and developments are poised to influence the U.S. stock market:
Economic Data Releases
Consumer Confidence Index: The Conference Board is scheduled to release its Consumer Confidence Index for December at 10:00 AM ET. Analysts anticipate a reading of 113.0, up from 111.7 in November, indicating potential strengthening in consumer sentiment.
Durable Goods Orders: The Census Bureau will report on November's durable goods orders at 8:30 AM ET on Tuesday, December 24. Expectations are for a 0.3% decline, suggesting a potential slowdown in manufacturing activity.
New Home Sales: Data on new single-family home sales for November will be released at 10:00 AM ET on Tuesday, December 24. Forecasts indicate a 9% increase from October, reflecting continued strength in the housing market.
Corporate Earnings
Earnings Reports: The week is expected to be quiet in terms of corporate earnings, with no major companies scheduled to report on December 23. The fourth-quarter earnings season is set to commence on January 15, 2025, with reports from major banks like JPMorgan Chase, Citigroup, and Wells Fargo.
Market Schedule
Holiday Trading Hours: U.S. stock markets will operate on a shortened schedule this week due to the Christmas holiday. On Tuesday, December 24, markets will close early at 1:00 PM ET, and remain closed on Wednesday, December 25. Normal trading hours will resume on Thursday, December 26.
Recent Market Performance
Major Indices: As of the close on Friday, December 20, the SPDR S&P 500 ETF Trust (SPY) stood at $591.15, reflecting a 0.85% increase from the previous close. The SPDR Dow Jones Industrial Average ETF (DIA) closed at $428.54, up 0.94%, and the Invesco QQQ Trust (QQQ) ended at $518.66, gaining 0.88%.
Carnival Corporation (CCL): The cruise line operator's stock closed at $26.80 on December 20, marking a 6.47% increase, following a strong earnings report that exceeded analyst expectations.
Investor Sentiment
Market Outlook: Despite recent gains, some analysts advise caution due to potential market volatility during the holiday season and the possibility of a market correction in early 2025. Investors are encouraged to monitor economic indicators and corporate earnings closely to inform their investment strategies.
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