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Markets begin last trading week with holiday cheer, Honda shares jump 17%, Tesla, Meta and Broadcom weights shrink, Nordstrom family will take retailer private, and Biden to decide on US Steel acquisition after panel deadlocks...

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Market Briefing
December 24, 2024

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Cheers! Happy holidays to you.

Note: Market Briefing will be paused December 25-26, and January 1, 2025 ✨

The Fast Five → Markets begin last trading week with holiday cheer, Honda shares jump 17%, Tesla, Meta and Broadcom weights shrink, Nordstrom family will take retailer private, and Biden to decide on US Steel acquisition after panel deadlocks…

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Calendar: (all times ET) - Full calendar

  • Today:
    Initial jobless claims, 8:30A
    Existing home sales, 10:00A

  • Tomorrow:
    Christmas holiday

Your 5-minute briefing for Tuesday, December 24:

BEFORE THE OPEN

As of market close 12/23/2024.

Pre-Market:

US Investor % Bullish Sentiment:
↓ 40.71% for Week of December 19 2024

Previous week: 43.33%. Updates every Friday.

Market Wrap:

  • Stock futures steady: Dow flat, S&P unchanged, Nasdaq down 0.2%.

  • NYSE closes early today, markets shut Wednesday for Christmas.

  • Monday: S&P +0.7%, Nasdaq +1%, Dow +0.2%. Tech led gains: Nvidia +3.7%, Broadcom +5%, Meta +2%.

  • Weak data: Consumer confidence at 104.7, durable goods orders down 1.1% in November.

  • Santa Claus rally hopes linger, but S&P 500 near 6,000 may stall further gains.

EARNINGS

No noteworthy earnings reports scheduled for release this week. See full calendar »

HEADLINES

As investors celebrate the festivities — and the S&P’s 25.25% year-to-date pop — they might find an extra present underneath the tree.

Three of the world’s biggest companies have had their influence reduced in the Nasdaq 100 Index after the giant technology rally of 2024 swelled them to unprecedented size.

  • Wall Street ends higher on gains by most megacaps (more)

  • Consumer confidence drops as election boost fades (more)

  • Dollar firms as US rates outlook dominates (more)

  • Oil prices up in thin pre-Christmas trade (more)

  • Bumpy ride for US corporate bond spreads expected in 2025 (more)

  • Biden to decide on US Steel acquisition after panel deadlocks (more)

  • US launches probe into Chinese semiconductor industry (more)

  • Silicon Valley’s WH influence grows as Trump taps tech execs for roles (more)

  • Honda shares jump 17% as buyback eases concern over Nissan deal (more)

  • Nordstrom family will take retailer private in $6.25B deal (more)

  • VC partners are leaving big firms in droves (more)

  • The Container Store files for bankruptcy (more)

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- Shortened briefing during holiday -
Dealflow, Crypto, and Bullish sections
will resume on January 2, 2025. Enjoy the holiday!

DAILY SHARES

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