Stock market today: S&P 500, Nasdaq futures slide to start final trading week of 2024
Published On Dec 30, 2024, 7:55 AM
Futures for the S&P 500, Nasdaq, and Dow marked declines at the start of the final trading week of 2024, reflecting a general softness in the market which followed substantial losses in tech stocks last week. The anticipated year-end rally, known as the 'Santa Claus' rally, has so far not materialized. Additionally, news of a tragic plane crash in South Korea involving a Boeing 737-800 has negatively impacted Boeing's stock. Despite current declines, the S&P 500 is up over 25% for the year, indicating a predominantly bullish trend over the course of the year.
Stock Forecasts
SPY
Negative
The downward pressure from significant losses in technology stocks, coupled with ongoing impact from high Treasury yields, suggests a challenging environment for half of many equities, particularly in the tech sector.
BA
Negative
The negative market sentiment and specific incident affecting Boeing's operations could lead to further declines in its stock value as potential investigations could weigh on investor confidence.
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