Stock market broke losing streak, Nasdaq down, S&P near key support level

From Investing.com: 2024-12-20 02:21:00

The stock market broke its 10-day losing streak, but only finished up 0.04%. The Nasdaq closed about 50 basis points lower, breaking support at 21,160. Today, the QYLD ETF will sell an option in the Nasdaq index, potentially creating downward pressure. The S&P 500 closed near a key support level at 4,875, signaling a possible gap fill at 4,780 or lower.

The PCE report will be critical today as inflation concerns persist. Rising rates steepened the yield curve, potentially signaling a bear steepening cycle. Weak TIPS auction pushed real yields higher. Small caps underperforming, with widening credit spreads a concern.



Read more at Investing.com: Could PCE Data Today Fuel a Bear Steepening Cycle?