US stocks dip as 2024 ends with profit-taking, DJIA drops 500 points

From Investing.com: 2024-12-30 09:36:43

U.S. stock futures dip as 2024 ends on profit-taking note. Nasdaq, S&P 500, and Dow Jones set to close near record levels, with gains of over 25%, 14%, and 31% respectively. Nasdaq on track for longest winning streak since 2021.

Goldman Sachs predicts Fed to cut interest rates by 25 basis points in March 2025, followed by two more cuts in June and September. Balance sheet runoff expected to slow in January 2025 and halt by the second quarter.

Boeing shares plummet over 4% after tragic plane crash in South Korea kills 179 people. Boeing 737-800 crash-landed at Muan International Airport, making it the deadliest aviation disaster in the country’s history.

Crude prices slip in thin holiday trade, with US crude futures down 0.1% and Brent falling 0.2%. Both benchmarks facing annual losses of around 1.5% for WTI and over 4% for Brent due to concerns over slowing demand in China.



Read more at Investing.com: US stocks slump as 2024 nears the end; DJIA drops over 500 points By Investing.com