From Nasdaq:

1. U.S. stock markets closed higher as investors await key inflation data and fourth-quarter 2024 earnings season. The S&P 500 rose to 4,783.45, while the Nasdaq Composite surged 0.8% to 14,969.65, led by strong performance of large-cap technology stocks.

2. The tech-heavy Nasdaq Composite finished at 14,969.65, surging 0.8% or 111.94 points. Notably, tech behemoths like Palo Alto Networks Inc. and Meta Platforms, Inc. advanced 5.2% and 3.7% respectively.

3. Market participants are trying to gauge the Fed’s expected move with respect to interest rate cuts. Investors are now pricing in a 59% chance that the Federal Reserve will go with a 25-basis point rate cut in March.

4. The Department of Labor reported that the U.S. economy added 216,000 jobs in December, with an unemployment rate of 3.7%. The average hourly wage rate increased by 0.4% in December and 4.1% year over year.

5. U.S. commercial crude oil inventories increased by 1.3 million barrels from the previous week. Wholesale inventories in November dropped 0.2% month over month, in line with the consensus estimate.



Read more: Stock Market News for Jan 11, 2024