{"id":48557,"date":"2024-12-12T19:28:46","date_gmt":"2024-12-12T19:28:46","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/"},"modified":"2024-12-12T19:28:46","modified_gmt":"2024-12-12T19:28:46","slug":"market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/","title":{"rendered":"Market Recap: Wall Street&#8217;s Mixed Performance Amid Inflation Data and Tech Rally"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Major_Indexes_Close_Mixed_as_Nasdaq_Hits_Record_High\" >Major Indexes Close Mixed as Nasdaq Hits Record High<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Inflation_Data_and_Its_Impact_on_Market_Sentiment\" >Inflation Data and Its Impact on Market Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Tech_Sector_Leads_the_Charge\" >Tech Sector Leads the Charge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Upcoming_Market_Events_to_Watch\" >Upcoming Market Events to Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Notable_Stock_Movements_and_Sector_Performance\" >Notable Stock Movements and Sector Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Market_Breadth_and_Volatility\" >Market Breadth and Volatility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-wall-streets-mixed-performance-amid-inflation-data-and-tech-rally\/48557\/#Looking_Ahead_Potential_Market_Drivers\" >Looking Ahead: Potential Market Drivers<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Close_Mixed_as_Nasdaq_Hits_Record_High\"><\/span>Major Indexes Close Mixed as Nasdaq Hits Record High<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Thursday, December 12, 2024, the U.S. stock market experienced a mixed session, with the tech-heavy Nasdaq Composite reaching new heights while the <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=DJI\">DJI<\/a>) continued its downward trend. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> managed to eke out modest gains, reflecting the overall cautious sentiment among investors.<\/p>\n<p><b>Key index performances:<\/b><br \/>&#8211; Nasdaq Composite: Closed at 20,034.90, surging 1.8% and breaking the crucial 20,000 barrier for the first time in history.<br \/>&#8211; S&#038;P 500: Gained 0.8% to finish at 6,084.19, approaching its own record high.<br \/>&#8211; Dow Jones Industrial Average: Fell 0.2% or 99.27 points to close at 44,148.56, marking its sixth consecutive day of losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Inflation_Data_and_Its_Impact_on_Market_Sentiment\"><\/span>Inflation Data and Its Impact on Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The release of November&#8217;s inflation data played a significant role in shaping market dynamics. The Consumer Price Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPI\">CPI<\/a>) rose 0.3% in November, in line with expectations but slightly higher than October&#8217;s 0.2% increase. Year-over-year, CPI climbed to 2.7%, up from 2.6% in the previous month.<\/p>\n<p><b>Core CPI, which excludes volatile food and energy prices, remained steady at 0.3% month-over-month and 3.3% year-over-year.<\/b> These figures have bolstered market expectations for another interest rate cut by the Federal Reserve in December, with the CME FedWatch tool showing a 98.4% probability of a 25 basis point reduction.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Sector_Leads_the_Charge\"><\/span>Tech Sector Leads the Charge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The technology sector continued to drive market gains, with six out of the &#8220;Magnificent Seven&#8221; stocks posting significant increases:<\/p>\n<p>&#8211; <b>Tesla Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b>: Jumped 5.9%, reaching an all-time high of $424.88.<br \/>&#8211; <b>Alphabet Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>)<\/b>: Climbed 5.5%, building on its 6% gain from the previous day following the release of its quantum computing chip.<br \/>&#8211; <b>Meta Platforms Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>)<\/b>: Advanced 2.2%.<\/p>\n<p>Other tech giants like <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>)<\/b>, <b>Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>)<\/b>, <b>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>)<\/b>, and <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> also contributed to the sector&#8217;s strong performance.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_to_Watch\"><\/span>Upcoming Market Events to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors should keep an eye on several key events that could impact market performance in the coming days:<\/p>\n<p>1. Federal Reserve&#8217;s December meeting: With high expectations for a rate cut, the Fed&#8217;s decision and accompanying statement will be crucial for market direction.<br \/>2. Earnings reports: Major companies, including <b>Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>)<\/b>, are set to release their quarterly results, which could influence sector-specific trends.<br \/>3. Economic data releases: Upcoming reports on retail sales, industrial production, and consumer sentiment will provide further insights into the health of the U.S. economy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements_and_Sector_Performance\"><\/span>Notable Stock Movements and Sector Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While tech stocks led the gains, other sectors showed mixed results:<\/p>\n<p>&#8211; The Technology Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLK\">XLK<\/a>), Communication Services Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLC\">XLC<\/a>), and Consumer Discretionary Select Sector (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLY\">XLY<\/a>) advanced 1.5%, 1.6%, and 1.8%, respectively.<br \/>&#8211; The Health Care Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLV\">XLV<\/a>) tumbled 1.4%, indicating a rotation out of defensive sectors.<br \/>&#8211; <b>Adobe (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=ADBE\">ADBE<\/a>)<\/b> shares plummeted 12% following a disappointing revenue outlook, despite beating quarterly earnings expectations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Breadth_and_Volatility\"><\/span>Market Breadth and Volatility<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The overall market breadth was positive, with advancers outnumbering decliners on both the <a href=\"https:\/\/stockmarketwatch.com\/markets\/nyse\/today.aspx\" data-internallinksmanager029f6b8e52c=\"2\" title=\"NYSE Today\">NYSE<\/a> and Nasdaq. The CBOE Volatility Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=VIX\">VIX<\/a>), often referred to as the fear gauge, decreased by 4.2% to 13.58, suggesting a relatively calm market sentiment despite the mixed performance of major indexes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Potential_Market_Drivers\"><\/span>Looking Ahead: Potential Market Drivers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we approach the end of 2024, several factors could influence market direction:<\/p>\n<p>1. Federal Reserve policy decisions and their impact on interest rates<br \/>2. Progress on inflation reduction towards the Fed&#8217;s 2% target<br \/>3. Corporate earnings and guidance for the upcoming year<br \/>4. Global economic conditions and geopolitical developments<br \/>5. Potential shifts in investor sentiment as we enter 2025<\/p>\n<p>In conclusion, while the market remains near record levels, investors should remain vigilant and prepared for potential volatility as we navigate the complex economic landscape heading into the new year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Close Mixed as Nasdaq Hits Record High On Thursday, December 12, 2024, the U.S. stock market experienced a 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