From Financial Modeling Prep: 2024-12-18 04:54:31

The Dow Jones Industrial Average fell for the ninth straight session, its longest losing streak since 1978, dropping 266 points (0.6%). The S&P 500 and NASDAQ Composite also declined by 0.4% and 0.3%, respectively.

November retail sales beat expectations, rising by 0.7% compared to the forecasted 0.6%. This growth showcases strong consumer spending, a vital driver of economic stability.

Investors anticipate a 25 basis point rate cut at the conclusion of the Fed’s meeting, with concerns over inflation and labor market performance influencing the central bank’s outlook for 2025.

Goldman Sachs predicts a slower rate of cuts in 2025, with no cuts expected in January. Market sentiment is cautious, with an 81.9% probability of the Fed maintaining rates in January according to CME FedWatch. Traders are bracing for potential volatility post-Fed announcement.



Read more at Financial Modeling Prep:: Dow’s Historic Losing Streak as Fed Decision Nears