• "Major Index Performance: S&P 500 Dips, Dow Rises Amid Fed Outlook"

  • Dec 26 2024
  • Length: 4 mins
  • Podcast

"Major Index Performance: S&P 500 Dips, Dow Rises Amid Fed Outlook"

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  • Summary

  • **Major Index Performance**

    - **S&P 500**: Closed at 5,867.08 on December 24, down by 5.08 points or -0.09%[4].
    - **Dow Jones Industrial Average**: Closed at 42,342.24, up by 15.37 points or +0.04%[4].
    - **NASDAQ Composite**: Closed at 19,372.77, down by 19.92 points or -0.10%[4].

    **Key Factors Driving Today's Market Direction**

    - The Federal Reserve's decision to cut interest rates less than previously expected in 2025 led to a sharp decline earlier in the week[3][4].
    - Positive inflation data from the Personal Consumption Expenditures (PCE) report showed core and headline prices rising 0.1% in November, slightly below analyst consensus[4].

    **Notable Sector Performance**

    - **Top Gainers**:
    - Information Technology: Despite a slight decline, this sector remains one of the top performers for the year, up 38.4% YTD[3].
    - Communication Services: Down -2.1% for the week but up 41.4% YTD[3].
    - **Top Decliners**:
    - Energy: Down -5.6% for the week[3].
    - Materials: Down -4.1% for the week[3].
    - Real Estate: Down -4.7% for the week[3].

    **Market Highlights**

    - **Most Actively Traded Stocks**: No specific data available for the current day, but stocks of banks and tech companies have been actively traded due to recent economic and political developments[5].
    - **Biggest Percentage Gainers and Losers**: Specific stocks not detailed, but sectors like Energy and Materials saw significant declines[3].
    - **Significant Market-Moving News Events**:
    - The Federal Reserve's hawkish outlook and reduced expectations for interest rate cuts in 2025[3][4].
    - Positive GDP growth of 3.1% in the third quarter, higher than initial estimates[3].

    **Technical Analysis**

    - **Current Market Trend**:
    - **S&P 500**: Despite a bearish reversal off the pivot, overall momentum is still considered bullish. However, the price could fall towards the 1st support at 5,984.70[2].
    - **Dow Jones**: Bullish overall momentum with potential for a bullish bounce off the pivot at 43,059.45[2].
    - **NASDAQ**: Bearish indicators but part of a broader bullish trend for the year[2][3].
    - **Key Support and Resistance Levels**:
    - **S&P 500**: Support at 5,984.70, resistance at 6,099.60[2].
    - **Dow Jones**: Support at 42,084.74, resistance not specified but potential bounce off pivot at 43,059.45[2].
    - **Trading Volume Analysis**: No specific data available for the current day.
    - **VIX Movement and Implications**: The Cboe Volatility Index surged 74% on Wednesday but settled down to 18.4 by Friday, indicating reduced short-term volatility expectations[3].

    **Forward-Looking Elements**

    - **Pre-market Futures Indication**: Not available in the provided sources.
    - **Key Events to Watch for Tomorrow**:
    - No major economic data releases or events specified for December 27.
    - **Important Upcoming Earnings Releases**: No specific releases mentioned for the immediate future.
    - **Potential Market Catalysts**:
    - Further interest rate decisions by the Federal Reserve in 2025.
    - Economic data releases, including GDP and inflation reports[3][4].
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