Overview
Today's U.S. stock market displayed mixed results as participants held back in anticipation of the Federal Reserve's upcoming interest rate decision, leading to an overall cautious market sentiment.
The U.S. stock market exhibited mixed trends amid uncertainty regarding the Federal Reserve's interest rate decision. Major indices saw little fluctuation, closing near stable levels. In contrast, the small-cap focused Russell 2000 index reached an all-time high, driven by expectations of a rate cut.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
JPMorgan reported a projected increase in expenses for next year, causing its stock to fall by 4.7% and marking its worst day since April. This added pressure to the market. The tech sector experienced heightened volatility due to foreign policy issues. President Trump's announcement of a 25% sale condition for NVIDIA's H200 chip exports to China created turbulence, especially as reports emerged about potential restrictions from the Chinese government.
Tomorrow's Economic Indicators
| Time | Description |
|---|---|
| 21:00 | U.S. MBA Mortgage Applications |
| 23:45 | Canada Benchmark Interest Rate Decision |
| 00:30 | U.S. EIA Crude Oil Inventories |
| 02:00 | U.S. Benchmark Interest Rate Decision |
| 02:30 | U.S. FOMC Press Conference |
General Opinion
Market participants are largely confident in a rate cut during this Federal Reserve meeting, although the exact number of cuts anticipated has varied compared to earlier optimistic projections. The market is keenly watching for signals on whether the Federal Reserve will maintain its rate-cutting stance in the near future. Jerome Powell's remarks and the economic outlook are expected to significantly influence market trends for the remainder of December.
