Overview
The U.S. stock market closed lower today. The traditional bullish trend of December was overshadowed by a significant slump in manufacturing activities and a sharp drop in Bitcoin, causing investors to exercise caution.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
- The Governor of the Bank of Japan hinted at a possible rate hike, causing Japanese government bond yields to surge, which in turn negatively impacted the U.S. bond markets.
- November's U.S. manufacturing activity saw its largest contraction in four months.
- Bitcoin fell approximately 6% to $86,000, leading to a liquidation of leveraged positions worth about $1 billion, exerting downward pressure on the stock market.
Tomorrow's Economic Indicators
| Time | Event |
|---|---|
| 10:00 AM | Fed Chair Powell Speaks |
| 10:55 PM | U.S. Johnson Redbook Retail Sales Index |
General Opinion
The U.S. stock market was influenced by Japan's monetary policy and Bitcoin's decline. However, investors are focusing on the potential for a Fed rate cut, which could alleviate some of the cautious sentiment. As December is traditionally a bullish month, the outcomes of key economic indicators this week could set the tone for a positive market momentum.
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daily stock summary
