Stock market today: S&P 500, Nasdaq and Dow sink to start final trading week of 2024
Published On Dec 30, 2024, 10:19 AM
The stock market began the final trading week of 2024 with declines across major indexes. The S&P 500 fell by approximately 1.6%, the Nasdaq decreased about 1.7%, and the Dow Jones Industrial Average was down over 1.6%. This drop comes despite a strong year for the markets, with the S&P 500 up more than 25% year-to-date, and raises concerns about a historically stable ‘Santa Claus’ rally, which hasn't materialized thus far this year. As trading heads towards January, investors are cautiously observing the outcomes of this period, given past trends where a negative performance in this timeframe could lead to lower returns in the month of January and beyond.
Stock Forecasts
SPY
Negative
Given the recent declines, particularly in tech stocks, further volatility is expected as the market approaches year-end. Investors might reconsider their positions due to potential profit-taking and market corrections after a strong performance throughout the year.
BA
Negative
Boeing shares are expected to continue facing pressure following a recent fatal crash involving one of its aircraft, heightening scrutiny and potential regulatory impacts on the company.
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