Stock futures are flat after Dow notches longest losing streak since 2018: Live updates

Published On Dec 16, 2024, 6:01 PM

Stock futures are showing little movement following a notable decline in the Dow Jones Industrial Average, which experienced its longest losing streak since 2018, closing down for the eighth consecutive day. Despite this, the Nasdaq Composite reached a new high, buoyed by strong performances from tech giants like Alphabet, Apple, and Tesla. Investors are closely monitoring the upcoming Federal Reserve meeting, where a quarter-point rate cut is widely expected, influencing market sentiments. The general feeling in the market is cautious but hopeful for year-end rallies, despite potential concerns related to trade tariffs under the incoming administration.

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Stock Forecasts

SPYView SPY chart on TradingView

Positive

The Dow's losing streak suggests weakness in industrial sectors, but tech subsectors continue to perform well, indicating a shift in investment preferences towards growth-oriented stocks. Anticipation of a rate cut could further boost tech and consumer discretionary stocks, supporting overall market performance. However, concerns over potential tariffs could weigh on market sentiment if trade tensions escalate.

NVDAView NVDA chart on TradingView

Positive

Nvidia's recent pullback, despite strong market conditions for tech stocks, indicates a potential opportunity for dip-buying among investors who believe in its long-term growth potential. The continuing global demand for AI technologies can fuel Nvidia's recovery.

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