The prices of the actions in the Bag The New York Stock Exchange closed with a general decline on Monday, while a notable year in Wall Street seems to end on a sour note.
The S&P 500 fell 63.90 points, or 1.1%, to 5,906.94, its third consecutive decline. Approximately 90% of the actions in the index benchmarks lost ground. On the penultimate day of 2024, the index was still on track for its second consecutive annual gain of more than 20%.
The industrial average Dow Jones fell 418.48 units, 1%, to 42,573.73, and the composite Nasdaq fell 235.25 points to 19,486.78, 1.2% lower.
The big ones technology companies They were the ones that had the most weight in the market, aggravating the downturn. Apple and Microsoft fell 1.3%. Their high valuations tend to have a disproportionate impact on the broader market.
As regards other actions technological, Meta Platforms fell 1.4%, Netflix slid 0.8% and amazon fell 1.1%.
The sectors of technology and communication services of the S&P 500 have been the market’s top performers, posting gains of 37.1% and 39.9%, respectively, so far this year.
Boeing fell 2.3% after one of its jets skidded off a runway in South Koreacrash in which 179 of the 181 people on board died. South Korea is inspecting all 737-800 aircraft operated by airlines in the country.
The disaster was another blow to Boeing after a strike of aviation mechanics, more safety problems on its best-selling aircraft and a drop in the price of its actions. Its shares have declined more than 30% this year.
The airlines that fly jets Boeing They staggered after the accident. United Airlines fell 1.4% and Delta Air Lines fell 0.9%.
The performance of treasury bond The 10-year bond fell from 4.63% to 4.53%, while the two-year bond fell from 4.33% to 4.25%.
The price of crude oil American rose 0.6%. The actions Energy stocks held up better than the rest of the market, falling only 0.1%.
For their part, the prices of natural gas rose 12%, which helped support the profits of producers of natural gas. EQT Corp. rose 5.1%, the biggest gain among actions of the S&P 500.
The indices in Europe and Asia fell for the most part
Markets are close to closing a stellar year driven by a economy growing, solid spending consumer and a strong labor market. Wall Street Companies within the S&P 500 are expected to report broad earnings growth of more than 9% for the year, according to FactSet.
The final figures will be counted after the reports business of the room quarter that will be announced in a few weeks.
Wall Street was encouraged by a decline in inflation throughout the year, which had favored the inflation rate to be close to the 2% objective established by the Federal Reserve.
That raised hopes that the central bank would offer a steady series of cuts to interest rateswhich would ease borrowing costs and drive more economic growth.
The Fed cut rates three times in 2024, but for 2025 it has indicated it will take a more cautious approach to the inflation persistent and concerns that it will reactivate. The latest report on prices consumer showed that the inflation it rose slightly in November, to 2.7%.
Concerns about the possibility that inflation come back have also been encouraged by the threats of duty of the incoming president donald trump. Companies usually pass on increases in product costs to consumers. duty on goods and raw materials.
Although US stock indices have historically received a boost at the end of the year—something often calledbullish streak of Santa Claus´—the recent market declines have put a stop to that.
“Thebullish streak of Santa Claus“that many expected and asked, perhaps we had it before, in November,” he said Keith BuchananSenior Portfolio Manager at Globalt Investments. “This week is going to be another drift week, whether it’s up or down.”
- The investors have very little corporate and economic news to review this week, which is shorter due to the holiday. New Year. The markets will be closed on Wednesday.
- On Thursday, investors will get an updated look at the construction spending in USA for the month of November. On Friday, Wall Street you will receive an update on the manufacture of December.
