Overview
The U.S. stock market closed slightly lower today despite the Federal Reserve's latest minutes confirming a potential additional rate cut next year. The S&P 500 index fluctuated throughout the day, eventually closing down 0.1%, marking its third consecutive decline. The market faced pressure from year-end profit-taking and position adjustments in technology stocks.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
NVIDIA and Palantir, both AI-related stocks, continued their downtrend amid decreased investor confidence in tech stocks. In contrast, Meta experienced a 1% gain following news of its acquisition of an AI startup. While the Fed's minutes suggested readiness for further monetary easing if inflation continues to moderate, a lack of consensus among policymakers and challenges in implementing recent rate cuts were apparent.
Tomorrow's Economic Indicators
| Release Time | Data |
|---|---|
| 10:30 AM ET | U.S. Initial Jobless Claims |
| 11:30 AM ET | EIA Crude Oil Stocks Change |
| 12:00 PM ET | EIA Natural Gas Storage Change |
A General Opinion
Market participants remain focused on the Federal Reserve's future policy direction, as AI stocks are likely to experience continued volatility in the short term. Analysts predict that companies effectively applying AI could see improved productivity and accelerated earnings growth next year. In the metals market, significant price fluctuations are expected to persist.
