Stocks closed mixed with T-note yields falling, Asian markets strong, and US labor market mixed.

From Nasdaq: 2024-12-26 18:30:36

The S&P 500, Dow Jones, and Nasdaq closed with mixed results on Thursday. T-note yields fell after an auction of 7-year T-notes. Asian markets were strong, with China planning a record stimulus. US labor market news was mixed, with weekly claims showing a stronger market but rising continuing claims. The chances of a rate cut at the FOMC meeting are at 9%.

Interest rates saw T-notes recover after a 7-month low, with yields falling on strong demand. Concerns over Trump’s policies initially led to lower T-note prices. European bond markets were closed. Swaps indicate a high likelihood of an ECB rate cut. Retailers like Target and Dollar Tree saw gains on strong holiday sales.

Stock movers included Avita Medical, UnitedHealth Group, and Apple. GameStop gained after social media attention. Cryptocurrency-related stocks like Microstrategy and Riot Platforms fell due to a drop in Bitcoin price. Hagerty Inc declined after a downgrade by Raymond James. Earnings reports for 12/27 include Daily Journal Corp, Dakota Gold Corp, and Immersion Corp.



Read more at Nasdaq: Stocks Finish Mixed in Thin Holiday Trade