Wall Street's main stock indexes hit their lowest point in over a week on Monday, as thin trading volumes and elevated Treasury yields overshadowed the typically robust year-end period for equities.At 11:45 a.m. ET, the Dow Jones Industrial Average fell 350.71 points, or 0.82%, to 42,641.50, the S&P 500 lost 52.08 points, or 0.87%, to 5,918.76 and the Nasdaq Composite lost 195.71 points, or 0.99%, to 19,526.32.All 11 S&P 500 sectors were in the red, with consumer discretionary leading declines. Growth stocks such as Tesla (NASDAQ:TSLA) and Amazon.com (NASDAQ:AMZN) dropped 2.2% and...
China's official Manufacturing Purchasing Managers' Index (PMI) eased to 50.1 in December, compared to 50.3 in the previous reading. The reading came in below the market consensus of 50.3 in the reported month. The NBS Non-Manufacturing PMI rose to 52.2 in December versus November's 50.0 figure and the estimates of 50.2. Source: FXstreet
Investors are expecting more gains for the U.S. stock market in 2025 after two straight standout years, fueled by a solid economy supporting corporate profits, moderating interest rates and pro-growth policies from incoming president Donald Trump. The benchmark S&P 500 is up roughly 24% year-to-date, even with a recent speed bump, and is on pace for its second straight year of gains exceeding 20%, lifted by megacap tech stocks and excitement over the business potential of artificial intelligence. Investors are more confident about the economy than this time a year ago, with consumers...