Wall Street ended lower on Friday due to expected interest rate cuts in 2025

From Nasdaq: 2024-12-23 07:15:00

Market News: Wall Street ended lower on Friday as investors anticipated two interest rate cuts in 2025. The Dow, S&P 500, and Nasdaq closed positively, but the overall week was negative. The Dow Jones rose by 1.2%, with NVIDIA leading the gains. The Nasdaq Composite advanced by 1%, while the S&P 500 gained 1.1%.

Inflation Moderates: U.S. inflation in November saw a 0.1% increase in the PCE price index, bringing the annual rate to 2.4%. Personal income rose by $71.1 billion, and personal spending increased by 0.4%. The Federal Reserve adjusted its future rate cuts, now expecting two in 2025, down from the previous projection of four.

Weekly Roundup: Last week saw declines in major indices, with the S&P 500 falling by 2%, the Nasdaq by 1.8%, and the Dow Jones Industrial Average by 2.3%. For those looking for top stock picks for 2025, Zacks is set to release its top 10 selections on January 2, following a history of strong performance.



Read more at Nasdaq: Stock Market News for Dec 23, 2024