{"id":48571,"date":"2024-12-16T19:01:46","date_gmt":"2024-12-16T19:01:46","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/"},"modified":"2024-12-16T19:01:46","modified_gmt":"2024-12-16T19:01:46","slug":"market-recap-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/","title":{"rendered":"Market Recap: S&#038;P 500 and Nasdaq Surge, Dow Wavers as Fed Decision Looms"},"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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Why_Was_the_Market_Up_Today_Tech_Stocks_and_Fed_Anticipation_Drive_Gains\" >Why Was the Market Up Today? Tech Stocks and Fed Anticipation Drive Gains<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Market_Performance_A_Mixed_Bag_of_Gains_and_Losses\" >Market Performance: A Mixed Bag of Gains and Losses<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Fed_Watch_Investors_Brace_for_Potential_Rate_Cut\" >Fed Watch: Investors Brace for Potential Rate Cut<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Economic_Data_Paints_a_Rosy_Picture\" >Economic Data Paints a Rosy Picture<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Tech_Stocks_Lead_the_Charge\" >Tech Stocks Lead the Charge<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Cryptocurrency_Boom_Bitcoin_Breaks_Records\" >Cryptocurrency Boom: Bitcoin Breaks Records<\/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-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Looking_Ahead_Key_Events_to_Watch\" >Looking Ahead: Key Events to Watch<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-surge-dow-wavers-as-fed-decision-looms\/48571\/#Market_Movers_Stocks_Making_Headlines\" >Market Movers: Stocks Making Headlines<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_Was_the_Market_Up_Today_Tech_Stocks_and_Fed_Anticipation_Drive_Gains\"><\/span>Why Was the Market Up Today? Tech Stocks and Fed Anticipation Drive Gains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market closed on a positive note on Monday, December 16, 2024, with the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and 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 struggled to maintain momentum. Investors&#8217; attention was firmly fixed on the upcoming Federal Reserve decision, driving optimism in the tech sector and pushing major indexes higher.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_A_Mixed_Bag_of_Gains_and_Losses\"><\/span>Market Performance: A Mixed Bag of Gains and Losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the closing bell rang, the <b>S&#038;P 500 (^GSPC) climbed 0.50%<\/b>, setting a new record and extending its impressive run. The <b>tech-heavy Nasdaq Composite (^IXIC) surged 1.18%<\/b>, breaking above the 20,000-point milestone for the first time in history. However, the <b>Dow Jones Industrial Average (^DJI) dipped 0.05%<\/b>, at risk of marking its eighth consecutive day of losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_Watch_Investors_Brace_for_Potential_Rate_Cut\"><\/span>Fed Watch: Investors Brace for Potential Rate Cut<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s upward trajectory was largely fueled by anticipation of the Federal Reserve&#8217;s final rate decision of the year, scheduled for Wednesday. Traders are pricing in a <b>97% chance of a 25 basis point rate reduction<\/b>, according to CME&#8217;s FedWatch tool. However, the focus remains on the Fed&#8217;s outlook for 2025, with investors eager to see if policymakers will adjust their &#8220;dot plot&#8221; forecasts in light of persistent inflation and strong economic growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_Paints_a_Rosy_Picture\"><\/span>Economic Data Paints a Rosy Picture<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adding to the positive sentiment, the latest S&#038;P Global flash US composite PMI data showed economic output hitting its highest level in nearly three years. The <b>composite PMI rose to 56.6 in December<\/b>, up from 54.9 in August, driven by increased activity in the services sector. This robust performance suggests the U.S. economy is growing at an annualized rate of just over 3% in December.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Stocks_Lead_the_Charge\"><\/span>Tech Stocks Lead the Charge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The technology sector was the star performer of the day, with several notable companies reaching new milestones:<\/p>\n<p>1. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>) surged over 5%<\/b>, pushing its market capitalization close to $1.5 trillion.<br \/>2. <b>Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>) gained more than 9%<\/b>, surpassing the $1 trillion market cap mark.<br \/>3. <b>Alphabet (GOOGL, GOOG) rose more than 5%<\/b>, hitting fresh record highs.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_Boom_Bitcoin_Breaks_Records\"><\/span>Cryptocurrency Boom: Bitcoin Breaks Records<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The cryptocurrency market also made headlines, with <b>Bitcoin surging past $107,000<\/b>. This remarkable 50% gain since the presidential election has been attributed to optimism surrounding the incoming <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration&#8217;s potential crypto-friendly policies. MicroStrategy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSTR\">MSTR<\/a>), one of the world&#8217;s largest Bitcoin holders, saw its shares climb 6% on the news of its inclusion in the Nasdaq 100 Index.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead_Key_Events_to_Watch\"><\/span>Looking Ahead: Key Events to Watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As investors digest today&#8217;s gains, attention turns to several upcoming economic indicators:<\/p>\n<p>1. The Federal Reserve&#8217;s rate decision and updated economic projections on Wednesday.<br \/>2. S&#038;P Global&#8217;s December flash manufacturing and services PMIs.<br \/>3. Industrial production figures and retail sales data.<br \/>4. Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) index \u2013 the Fed&#8217;s preferred inflation gauge.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Movers_Stocks_Making_Headlines\"><\/span>Market Movers: Stocks Making Headlines<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>MicroStrategy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSTR\">MSTR<\/a>), Palantir (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PLTR\">PLTR<\/a>), and Axon Enterprise (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AXON\">AXON<\/a>)<\/b> are set to join the Nasdaq 100 Index next Monday.<br \/>&#8211; <b>Super Micro Computer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=SMCI\">SMCI<\/a>)<\/b> dropped over 6% as it faces removal from the Nasdaq 100.<br \/>&#8211; <b>Coinbase Global (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=COIN\">COIN<\/a>)<\/b> and <b>MARA Holdings (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MARA\">MARA<\/a>)<\/b> benefited from the Bitcoin rally, gaining 2.6% and 3.8% respectively.<\/p>\n<p>As the market prepares for a crucial week ahead, <a href=\"https:\/\/stockmarketwatch.com\/live\/stock-market-today\" data-internallinksmanager029f6b8e52c=\"6\" title=\"Stock Market Today\">today&#8217;s stock market<\/a> recap underscores the delicate balance between optimism surrounding potential rate cuts and caution over economic indicators. Investors will be closely monitoring the Federal Reserve&#8217;s decision and guidance, which could set the tone for market performance as we approach the end of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why Was the Market Up Today? Tech Stocks and Fed Anticipation Drive Gains The U.S. stock market closed on a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[4,595,1566,2919,3001,3749,3776,3850,3875],"class_list":["post-48571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-tsla","tag-smci","tag-mstr","tag-avgo","tag-coin","tag-pce","tag-mara","tag-pltr","tag-axon"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=48571"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=48571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}