U.S. Markets
- Stocks Finish Higher in Holiday-Shortened Week
U.S. stocks ended the week with moderate gains, driven by large-cap growth stocks early in the week. However, indices gave up some of their gains after Wednesday’s Christmas holiday. - Economic Data Shows Mixed Results
Consumer confidence fell to 104.7 in December, down from 112.8 in November, with a sharp decline in short-term outlook indicators. Durable goods orders dropped 1.1% in November, while new home sales came in below consensus at a pace of 664,000. - Treasury Yields Climb
U.S. Treasury yields rose, with the 10-year note reaching 4.641% on Thursday amid light trading. High-yield bonds also saw modest gains.
European Markets
- European Stocks Rise
The STOXX 600 Index gained 0.99%, with France’s CAC 40 up 1.11% and Germany’s DAX rising 0.50%. - UK Economic Growth Revised Lower
The UK’s third-quarter GDP estimate was revised down to 0.0%, highlighting stagnation concerns ahead of planned tax increases.
Asia-Pacific Markets
- Japan’s Stocks Advance
Japan’s Nikkei 225 rose 4.08%, supported by a weaker yen and optimism in export-heavy industries. Inflation in Tokyo exceeded forecasts at 3% year-over-year, signaling strong price trends. - Chinese Stocks Rebound
Chinese equities rose on hopes of further government stimulus. Manufacturing profits, however, extended their decline, falling 7.3% year-on-year in November.
Other Key Developments
- Turkey Cuts Interest Rates
Turkey’s central bank reduced its policy rate to 47.5%, citing evidence of moderating inflation, which declined to 47% in November from a high of 85% in 2022. - South Korea Faces Political Turmoil
South Korea continued to experience political uncertainty, with the parliament unseating the acting president, adding to investor concerns.
Market Performance Snapshot
Index | Friday’s Close | Weekly Change | YTD Change |
DJIA | 42,992.21 | +151.95 | +14.07% |
S&P 500 | 5,970.84 | +39.99 | +25.18% |
Nasdaq Composite | 19,722.03 | +149.43 | +31.38% |
S&P MidCap 400 | 3,138.61 | +14.33 | +12.84% |
Russell 2000 | 2,244.59 | +2.22 | +10.73% |
*Source of data: Yahoo! Finance and Bloomberg
This chart is for informational purposes only and does not reflect the performance of any specific security. Past performance is not indicative of future results.