{"id":48564,"date":"2024-12-13T19:02:36","date_gmt":"2024-12-13T19:02:36","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/"},"modified":"2024-12-13T19:02:36","modified_gmt":"2024-12-13T19:02:36","slug":"stock-market-recap-wall-street-ends-mixed-on-december-13-2024","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/","title":{"rendered":"Stock Market Recap: Wall Street Ends Mixed on December 13, 2024"},"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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Market_Overview_Indexes_Close_with_Mixed_Results\" >Market Overview: Indexes Close with Mixed Results<\/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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Why_Was_the_Market_Up_Today_Tech_Sector_Leads_Gains\" >Why Was the Market Up Today? Tech Sector Leads Gains<\/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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Sector_Performance_and_Key_Movers\" >Sector Performance and Key Movers<\/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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Economic_Data_and_Fed_Watch\" >Economic Data and Fed 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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Upcoming_Market_Events_All_Eyes_on_the_Fed\" >Upcoming Market Events: All Eyes on the Fed<\/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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Market_Sentiment_and_Future_Outlook\" >Market Sentiment and Future Outlook<\/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\/stock-market-recap-wall-street-ends-mixed-on-december-13-2024\/48564\/#Conclusion_A_Market_at_a_Crossroads\" >Conclusion: A Market at a Crossroads<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Overview_Indexes_Close_with_Mixed_Results\"><\/span>Market Overview: Indexes Close with Mixed Results<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Friday, December 13, 2024, the U.S. stock market closed with mixed results as investors digested the latest economic data and anticipated the upcoming Federal Reserve meeting. The <b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a><\/b> finished at 6,051.25, down 0.5%, while the <b>Nasdaq Composite<\/b> ended at 19,902.84, sliding 0.7%. The <b><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>)<\/b> tumbled 0.5% to close at 43,914.12, marking its sixth consecutive day of losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Was_the_Market_Up_Today_Tech_Sector_Leads_Gains\"><\/span>Why Was the Market Up Today? Tech Sector Leads Gains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the overall mixed performance, the technology sector showed strength, particularly in semiconductor stocks. This was largely due to an upbeat forecast from <b>Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>)<\/b>, which surged 15% in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading after predicting booming demand for its custom AI chips. This optimism spread to other chip stocks, with <b>Marvell Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MRVL\">MRVL<\/a>)<\/b> rising 5.6%, <b>Micron Technology (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MU\">MU<\/a>)<\/b> gaining 2%, and AI bellwether <b>Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>)<\/b> up 1.1%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Performance_and_Key_Movers\"><\/span>Sector Performance and Key Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nine out of eleven broad sectors of the S&#038;P 500 ended in negative territory. The Energy Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLE\">XLE<\/a>), Health Care Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLV\">XLV<\/a>), and Consumer Discretionary Select Sector (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLY\">XLY<\/a>) each fell 0.8%. On the positive side, the Consumer Staples Select Sector SPDR (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XLP\">XLP<\/a>) rose 0.3%.<\/p>\n<p>Notable stock movements included:<\/p>\n<p>&#8211; <b>UnitedHealth Group Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=UNH\">UNH<\/a>)<\/b>: The medical insurer&#8217;s stock price tanked 3.3%, making it the major loser of the Dow.<br \/>&#8211; <b>Salesforce (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CRM\">CRM<\/a>)<\/b>: The cloud software seller was up 1.8% after KeyBanc upgraded its stock to &#8220;overweight&#8221; from &#8220;sector weight&#8221;.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_and_Fed_Watch\"><\/span>Economic Data and Fed Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching economic indicators as they anticipate the Federal Reserve&#8217;s next move. The Department of Labor reported that the producer price index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PPI\">PPI<\/a>) for final demand rose 0.4% in November, higher than the consensus estimate of 0.2%. Year-over-year, PPI increased 3% in November, compared to 2.6% in October.<\/p>\n<p>Initial jobless claims increased by 17,000 to 242,000 for the week ended December 7, higher than the expected 220,000. Continuing claims rose by 15,000 to 1.886 million for the week ended November 30.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_All_Eyes_on_the_Fed\"><\/span>Upcoming Market Events: All Eyes on the Fed<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The most significant upcoming event is the Federal Reserve&#8217;s meeting scheduled for December 17-18. Market participants are showing increased optimism for another round of interest rate cuts. The CME FedWatch tool currently indicates a 96.4% probability that the central bank will cut the Fed funds rate by 25 basis points in December. If this materializes, the total reduction in the Fed funds rate will be 1% in 2024.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Sentiment_and_Future_Outlook\"><\/span>Market Sentiment and Future Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite the day&#8217;s mixed performance, the overall market sentiment remains cautiously optimistic. The persistent technology stock rally has propelled the Nasdaq above the 20,000 mark for the first time earlier this week. Investors continue to flock to heavyweight tech stocks, capitalizing on the hype around artificial intelligence.<\/p>\n<p>However, traders are also mindful of the potential for a pause in rate cuts in January, as numerous Fed officials have cautioned about a slower pace of easing going forward. This balance between optimism in the tech sector and caution regarding monetary policy is likely to shape market dynamics in the coming weeks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_A_Market_at_a_Crossroads\"><\/span>Conclusion: A Market at a Crossroads<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we close out this week, the U.S. stock market finds itself at a crossroads. While technology stocks, particularly those related to AI, continue to show strength, broader market indexes are facing some headwinds. Investors will be keenly watching the Federal Reserve&#8217;s decision next week, which could set the tone for market performance as we head into the new year.<\/p>\n<p>With the S&#038;P 500 and Dow facing weekly losses, but the Nasdaq on track to end the week higher, it&#8217;s clear that sector performance is diverging. As always, investors should stay informed about economic data, corporate earnings, and policy decisions to navigate these complex market conditions effectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Indexes Close with Mixed Results On Friday, December 13, 2024, the U.S. stock market closed with mixed results 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