Futures contracts linked to the S&P 500 (ES=F) Expertise-intensive Nasdaq (NQ=F) and Dow Jones Industrial Common (YM=F) all drifted decrease Monday morning.
This decline occurred because the 10-year Treasury yield (^TNX) was hovering close to a 7-month excessive of 4.6%.
Actions closed last week with a Friday slide massive names in know-how like Tesla (TSLA) and NVIDIA (NVDA), the Nasdaq Composite down 1.5% and the S&P 500 down greater than 1%.
The a lot awaited “Santa Claus” gatheringwhich is statistically one of the most consistent positive seven-day periods of the year for the S&P 500has been a failure so far. Since 1950, the S&P 500 rose 1.3% within the seven buying and selling days starting Dec. 24, nicely above the standard seven-day common of 0.3%, in response to Adam Turnquist, chief technical strategist. from LPL Monetary. Over the present interval, the S&P 500 is down lower than 0.1%.
However with simply two buying and selling days left in 2024, markets are hoping to get the large image again from the yr, a yr that was stuffed with features. The benchmark S&P is up greater than 25% this yr, whereas the Nasdaq has gained greater than 30%. The blue-chip Dow rose a extra modest 14%.
Late Sunday night, former President Jimmy Carter died at the age of 100 at his residence in Plains, Georgia, the Carter Middle mentioned. Inventory markets are nonetheless scheduled to open at 9:30 a.m. ET on Monday.
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