US stock indexes closed higher in Wednesday's shortened trading session (December 24), maintaining strong momentum from this week amid expectations that the current economic backdrop continues to support earnings prospects for the coming year. The S&P 500 rose 0.4% and the Dow jumped 0.7%, both hitting record highs, while the Nasdaq 100 gained 0.3%. Yesterday's third-quarter GDP data was well above expectations for a 4.3% annual expansion, reflecting strong private consumption and curbing concerns that tariffs are hampering spending or fueling a surge in inflation. Meanwhile, initial...
Asia-Pacific markets are set for a mixed open on Friday, after Wall Street benchmarks the Nasdaq Composite and the S&P 500 posted their worst day in nearly two months on a downbeat Microsoft earnings forecast and MetaTrader results. Traders await a raft of economic data from the region, including Australia's third-quarter producer price index reading and China's Caixin manufacturing purchasing managers' index for October. Japan's Nikkei 225 appears set for a weaker open, with futures in Chicago at 38,470 and its Osaka counterpart at 38,370 against the index's last close of...