Stock futures tick lower as S&P 500 closes out second year in a row with 20% gain: Live updates
Published On Dec 30, 2024, 6:07 PM
The stock market is closing out 2024 after a strong year, with the S&P 500 recording a gain of over 23%. Market movements are influenced by several factors including the Federal Reserve's interest rate cuts, strong performance in technology stocks, and a Republican administration that is expected to deregulate and lower corporate taxes. However, the market showed signs of weakness, particularly in December, with the S&P and Nasdaq experiencing recent declines amidst profit-taking and concerns over rising rates. Despite these challenges, the overall sentiment remains cautiously optimistic about the upcoming year.
Stock Forecasts
NVDA
Positive
The strong annual performance suggests that technology companies involved with AI, such as Nvidia and Apple, are likely to continue to perform well. Additionally, the expectation of ongoing rate cuts could improve market conditions, prompting investors to remain bullish on these sectors despite recent market corrections.
SPY
Positive
The anticipated economic policies under the new administration may benefit major corporations, especially those in the tech and financial sectors. The overall market correction may present a buying opportunity for sector-related ETFs that could benefit from regulatory changes and economic growth.
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