Stock market today: S&P 500, Nasdaq, Dow rise as investors start countdown to Fed decision

Published On Dec 16, 2024, 11:23 AM

U.S. stocks rose on December 16, 2024, with the S&P 500 up by 0.3%, the Nasdaq by 0.5%, and the Dow slightly gaining. The market's movement is attributed to a strong performance in Bitcoin, which hit a record price of over $106,000, along with investor anticipation for the Federal Reserve's imminent interest rate decision. Most traders expect a 25 basis point cut in rates, with the Fed also expected to discuss its future rate trajectory amidst ongoing inflation concerns. MicroStrategy shares increased by 4% due to its inclusion in the Nasdaq 100 as it boosts its Bitcoin holdings. Conversely, Super Micro Computer's stock fell significantly, nearing a removal from the Nasdaq 100 due to compliance issues.