Stocks fall as US consumer confidence declines, impacting market sentiment negatively.

From Nasdaq: 2024-12-23 14:56:02

The S&P 500, Dow Jones, and Nasdaq are all down, with E-mini S&P and Nasdaq futures also in the red. US stocks dipped due to lower consumer confidence, weak durable goods, and new home sales reports. The 10-year T-note yield rose, impacting market sentiment.

A US government shutdown was averted with a stop-gap funding bill, but the debt ceiling issue looms for early 2025. Nov US durable goods orders were lower than expected, while new home sales missed projections. Consumer confidence dropped in December, adding to market concerns.

Markets see a 9% chance of a rate cut at the upcoming FOMC meeting. Overseas markets are mixed, with European bond yields rising. US stock movers include Qualcomm up and Arm down, while chip stocks like AMD and GLOBAFOUNDARIES are up. Xerox and Playa Hotels & Resorts also saw gains.

Bitcoin and crypto-stocks are down, following last week’s FOMC meeting. Riot Platform, Microstrategy, and Coinbase are all trading lower. Earnings reports for companies like Outlook Therapeutics and B Riley Financial are expected on 12/23/2024. Analyst Rich Asplund did not hold any positions in the mentioned securities.



Read more at Nasdaq: Stocks Fall on Unexpected Decline in US Consumer Confidence