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.
Stock Forecasts
MSTR
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.
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