Stock market today: Dow, S&P 500, Nasdaq inch higher, bitcoin slumps after Christmas break
Published On Dec 26, 2024, 12:19 PM
The stock market showed a slight increase following the Christmas holiday, with the Dow rising nearly 0.2% and the S&P 500 gaining 0.1%. The Nasdaq also recovered from early losses. Meanwhile, Bitcoin saw a significant drop, trading around $96,000. Significant economic news included a decrease in weekly jobless claims but an overall increase in continuing claims, indicating potential signs of a cooling labor market. The market had mixed reactions, pausing its previous upward momentum after the holidays, but recent performances remain close to record highs for major indexes.
Stock Forecasts
AAPL
Positive
Given the slight increases in major indices and the positive market sentiment following the holiday, there may be continued growth in established technology stocks and ETFs, particularly with recent bullish analyst support for companies like Apple. However, the crypto slump could negatively affect related stocks like MicroStrategy.
MSTR
Negative
The decline in Bitcoin could put further downward pressure on crypto-related stocks such as MicroStrategy, suggesting a negative outlook for its stock following recent Bitcoin price volatility.
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