From Nasdaq:



The Asia-Pacific equity markets finished the day mixed, with Japan, Australia, and South Korea closing flat or close to it. Hong Kong’s Hang Seng fell 1.69%, and China’s Shanghai Composite eased 0.13%. European markets are mixed, and U.S. equity futures point to a lower open. The stock market has been rallying amid expectations for multiple rate cuts in 2024, but Fed officials have tried to walk back the more aggressive rate cut forecasts. The November PCE Price Index data is expected to reshape the number of rate cuts expected by the market, and concerns over shipments in the Red Sea are leading to a rebound in oil prices. The annual inflation rate in Japan dropped to 2.8% YoY in November, and the British economy expanded by 0.3% YoY in the third quarter. Equities resumed the rally, led by Consumer Discretionary and Healthcare sectors. No market-moving quarterly earnings are expected to be released before equities begin trading. There are upcoming data releases and events for the holiday week, and readers are encouraged to visit Nasdaq’s Latest & Upcoming IPOs page for more information. There are no companies expected to report quarterly results after equities stop trading today ahead of the Christmas holiday. After the holidays, there are a number of data releases and events scheduled for the coming week. The thought for the day is “May the Spirit of the Holidays be with you throughout the New Year.” The article also includes company-specific updates and a note of good wishes for the holiday season.



Original: Daily Markets: Stocks Swayed by Inflation Data, Red Sea Shipping Woes