{"id":48572,"date":"2024-12-16T19:28:37","date_gmt":"2024-12-16T19:28:37","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-surge-fed-decision-looms\/48572\/"},"modified":"2024-12-16T19:28:37","modified_gmt":"2024-12-16T19:28:37","slug":"market-recap-sp-500-and-nasdaq-surge-fed-decision-looms","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-and-nasdaq-surge-fed-decision-looms\/48572\/","title":{"rendered":"Market Recap: S&#038;P 500 and Nasdaq Surge, Fed Decision Looms"},"content":{"rendered":"<p>The U.S. stock market closed on a positive note on Monday, December 16, 2024, with two of the three major indexes posting gains as investors eagerly await the Federal Reserve&#8217;s final policy decision of the year. The <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and Nasdaq Composite continued their upward trajectory, 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.<\/p>\n<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-fed-decision-looms\/48572\/#Market_Performance\" >Market Performance<\/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-fed-decision-looms\/48572\/#Fed_Watch_and_Economic_Indicators\" >Fed Watch and Economic Indicators<\/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-fed-decision-looms\/48572\/#Sector_Highlights_and_Stock_Movers\" >Sector Highlights and Stock 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\/market-recap-sp-500-and-nasdaq-surge-fed-decision-looms\/48572\/#Cryptocurrency_Surge\" >Cryptocurrency Surge<\/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-fed-decision-looms\/48572\/#Upcoming_Market_Catalysts\" >Upcoming Market Catalysts<\/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-fed-decision-looms\/48572\/#Global_Market_Influences\" >Global Market Influences<\/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-fed-decision-looms\/48572\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance\"><\/span>Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <b>S&#038;P 500 (^GSPC)<\/b> climbed 0.50% to close at 6,081.48, extending its impressive run and inching closer to new record highs. The <b>Nasdaq Composite (^IXIC)<\/b> outperformed, surging 1.19% to 20,163.63, driven by strong performances in the technology sector. However, the <b>Dow Jones Industrial Average (^DJI)<\/b> slipped marginally by 0.05% to 43,806.96, marking its potential eighth consecutive day of losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_Watch_and_Economic_Indicators\"><\/span>Fed Watch and Economic Indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>All eyes are on the Federal Reserve as it prepares for its final meeting of 2024, scheduled for December 17-18. Market participants are pricing in a 97% probability of a 25 basis point rate cut, which would bring the target range down to 4.25-4.50%. This anticipated move reflects the Fed&#8217;s ongoing efforts to manage inflation while maintaining economic stability.<\/p>\n<p>Adding to the economic narrative, S&#038;P Global&#8217;s flash U.S. composite PMI data released today showed encouraging signs. The index rose to 56.6 in December, up from 54.9 in August, indicating the fastest pace of economic growth in nearly three years. Chris Williamson, chief business economist at S&#038;P Global Market Intelligence, noted that this performance is &#8220;consistent with GDP rising at an annualized rate of just over 3% in December.&#8221;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sector_Highlights_and_Stock_Movers\"><\/span>Sector Highlights and Stock Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The technology sector continued to lead the market&#8217;s gains, with several notable stocks hitting new highs:<\/p>\n<p>1. <b>Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>)<\/b> surged over 5%, pushing its market capitalization close to $1.5 trillion.<br \/>2. <b>Broadcom (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AVGO\">AVGO<\/a>)<\/b> jumped more than 9%, surpassing the $1 trillion market cap milestone.<br \/>3. <b>Alphabet (GOOGL, GOOG)<\/b> rose more than 5%, reaching fresh record levels.<br \/>4. <b>MicroStrategy (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSTR\">MSTR<\/a>)<\/b> gained 6%, boosted by bitcoin&#8217;s rally and its upcoming inclusion in the Nasdaq 100 Index.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cryptocurrency_Surge\"><\/span>Cryptocurrency Surge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Bitcoin (BTC-USD)<\/b> made headlines by breaching the $107,000 mark, setting a new all-time high. The cryptocurrency&#8217;s impressive 50% gain since the recent presidential election reflects growing optimism about potential crypto-friendly policies under the incoming <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Catalysts\"><\/span>Upcoming Market Catalysts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are bracing for a data-heavy week that could significantly impact market sentiment:<\/p>\n<p>1. The Federal Reserve&#8217;s interest rate decision and updated economic projections on Wednesday.<br \/>2. Release of the Personal Consumption Expenditures (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PCE\">PCE<\/a>) index, the Fed&#8217;s preferred inflation gauge.<br \/>3. November retail sales data, offering insights into consumer spending habits.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Influences\"><\/span>Global Market Influences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>International factors are also playing a role in market dynamics. China&#8217;s recent retail sales data fell short of forecasts, putting pressure on oil prices. Brent crude hovered near $74 a barrel, while West Texas Intermediate dipped below $71.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market digests these developments, all attention will be on the Federal Reserve&#8217;s decision and commentary. Investors are particularly interested in the updated &#8220;dot plot,&#8221; which could provide insights into the central bank&#8217;s rate cut projections for 2025. The persistence of inflation and potential policy shifts under the new administration will be key factors influencing the Fed&#8217;s outlook.<\/p>\n<p>In conclusion, the U.S. stock market remains resilient, with technology stocks driving much of the gains. As we approach the year&#8217;s end, the interplay between monetary policy, economic data, and geopolitical factors will continue to shape market trends. Investors should stay alert to these key indicators and policy decisions in the coming days, which could set the tone for market performance heading into 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. stock market closed on a positive note on Monday, December 16, 2024, with two of the three major [&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":[4,1566,2919,3749],"class_list":["post-48572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-tsla","tag-mstr","tag-avgo","tag-pce"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48572","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=48572"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48572\/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=48572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}