Market saw slight increase with tech stocks performing well and energy sector standout
From Barchart: 2024-12-16 17:53:16
- The stock market saw a slight increase today, with the S&P 500 gaining 0.5% and the Dow Jones Industrial Average up 0.3%. Tech stocks also performed well, with the Nasdaq rising 0.8%.
- In economic news, the unemployment rate dropped to 4.2%, the lowest level in over a year. Job growth exceeded expectations, with 250,000 new jobs added last month.
- Investors are keeping an eye on inflation data, as consumer prices rose by 0.4% in the latest report. This could impact the Federal Reserve’s decision on interest rates in the coming months.
- The energy sector was a standout performer today, with oil prices hitting a three-year high. This was driven by increased demand and geopolitical tensions in key oil-producing regions.
- Overall, market sentiment remains positive as investors await further updates on corporate earnings and economic indicators. Traders are optimistic about the outlook for the rest of the year.
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