Indices
- Dow 42,840, -988or -2.25%.
- Nasdaq 19,572, -354or -1.78%.
- S&P 5,930, -165or-2.71%.
- MSCI EAFE 2235.71, -83.34 or -3.59%.
- USD10Y 4.524%, +12.5bp or +2.84%.
- WTI Crude $69.51/bbl, -$1.58 or -2.22%.
Fed Throws Cold Water on Rate Cut Party
Despite very good economic data (retail sales better, jobless claims lower, Q3 GDP revised higher, and both Personal Consumption Expenditures (headline and core) lower than expected) and a Fed rate cut, the markets were gashed on Wednesday when the Fed’s interest rate dot plot indicated only two rate cuts in 2025 vs the four that had been expected.
The Upcoming Week: Dec 23 – Dec 27
It is a very slow week for the markets with only November Durable Goods and Initial Jobless Claims. Markets are closed on Wednesday in observance of Christmas and close early on Tuesday, Christmas Eve.
Economic Calendar
- Monday – N/A. Earnings: N/A.
- Tuesday – November Durable Goods Orders. Earnings: N/A.
- Wednesday – Markets Closed in Observance of Christmas.
- Thursday – Initial Jobless Claims. Earnings: N/A.
- Friday – N/A. Earnings: N/A.
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Disclaimer: This is not a recommendation to buy or sell any of the securities listed above. I personally, or a family member whose account I control, have positions in the following securities/assets...Bitcoin, Ethereum, Solana, ACHR, BITB, NVDA, and RIVN.