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

Published On Dec 16, 2024, 9:30 AM

US stock markets saw a rise with the S&P 500 gaining 0.3% and the Nasdaq Composite rising about 0.5% amid a backdrop of increasing bitcoin prices, which reached an all-time high before backing down slightly. Investors are focused on the upcoming Federal Reserve meeting, where a rate cut is widely expected. The anticipation for the Fed's decision has taken precedence over recent economic data suggesting persistent inflation. Bitcoin-related stocks, such as MicroStrategy, saw positive movement as the firm is set to join the Nasdaq 100.

Read full article

Stock Forecasts

MSTRView MSTR chart on TradingView

Positive

The expected Fed rate cut is likely to provide short-term bullish momentum for equities, particularly growth stocks that tend to benefit from lower interest rates. Sectors related to technology and cryptocurrencies are expected to perform well as investors seek growth opportunities leading up to the Fed's decision.

Related News

MicroStrategy shares jump as bitcoin proxy will join Nasdaq-100 index and 'QQQ' ETF

Dec 16, 2024, 6:12 AM

Shares of MicroStrategy were higher Monday after Nasdaq announced the bitcoin proxy will join the tech-heavy Nasdaq-100 index.

MSTR

Stock market today: Nasdaq tops 20,000 for first time as Big Tech surges, Tesla hits first record in 3 years

Dec 11, 2024, 4:06 PM

The CPI report sets the stage for the Federal Reserve's final interest rate decision of the year.

GOOG
AMZN
MSTR

Stock market today: Nasdaq tops 20,000 for first time as Big Tech surge leads stocks higher

Dec 11, 2024, 1:16 PM

The CPI report sets the stage for the Federal Reserve's final interest rate decision of the year.

QQQ
MAGS
M
SMCI
MSTR