{"id":48653,"date":"2024-12-30T22:28:45","date_gmt":"2024-12-30T22:28:45","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-recap-sp-500-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/"},"modified":"2024-12-30T22:28:45","modified_gmt":"2024-12-30T22:28:45","slug":"market-recap-sp-500-nasdaq-and-dow-slide-as-strong-year-nears-its-close","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-recap-sp-500-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/","title":{"rendered":"Market Recap: S&#038;P 500, Nasdaq, and Dow Slide as Strong Year Nears Its Close"},"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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Major_Indexes_Retreat_in_Final_Trading_Days_of_2024\" >Major Indexes Retreat in Final Trading Days of 2024<\/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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Current_Market_Performance\" >Current Market Performance<\/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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Big_Tech_and_Major_Stock_News\" >Big Tech and Major Stock News<\/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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Upcoming_Market_Events_and_Economic_Indicators\" >Upcoming Market Events and Economic Indicators<\/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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Commodities_and_Cryptocurrencies\" >Commodities and Cryptocurrencies<\/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-nasdaq-and-dow-slide-as-strong-year-nears-its-close\/48653\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Retreat_in_Final_Trading_Days_of_2024\"><\/span>Major Indexes Retreat in Final Trading Days of 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the final trading days of 2024 unfold, Wall Street is experiencing a downturn, with major indexes retreating from their recent highs. On Monday, December 30, 2024, the stock market saw significant declines across the board, putting a damper on what has otherwise been a stellar year for investors.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Current_Market_Performance\"><\/span>Current Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> (^GSPC)<\/b> closed down 1.1% at 5,906.94 points, marking a notable pullback from its recent record highs. The <b><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (^DJI)<\/b> also felt the pressure, falling 1% to 42,573.73 points. Meanwhile, the tech-heavy <b>Nasdaq Composite (^IXIC)<\/b> experienced the largest decline of the day, dropping 1.2% to 19,486.78 points.<\/p>\n<p>Despite the day&#8217;s losses, it&#8217;s important to note that 2024 has been an exceptionally strong year for the U.S. stock market. Year-to-date, the S&#038;P 500 is up an impressive 23.8%, while the Nasdaq has surged by 29.8%. Even the more conservative Dow has posted a respectable 13% gain for the year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Big_Tech_and_Major_Stock_News\"><\/span>Big Tech and Major Stock News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Big Tech companies<\/b> were among the heaviest weights on the market Monday. Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) and Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>) both saw declines of over 1.5%, while other tech giants like Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>), Alphabet (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=GOOGL\">GOOGL<\/a>), and Tesla (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TSLA\">TSLA<\/a>) also experienced significant drops.<\/p>\n<p>One of the day&#8217;s biggest stories came from <b>Boeing (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BA\">BA<\/a>)<\/b>, whose stock plummeted more than 3% following a tragic incident involving one of its 737-800 aircraft. A Jeju Air flight crashed in South Korea, resulting in 179 fatalities out of 181 people on board. This disaster has prompted South Korean authorities to order inspections of all 737-800 aircraft in the country, adding to Boeing&#8217;s ongoing challenges with aircraft safety and quality control.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_and_Economic_Indicators\"><\/span>Upcoming Market Events and Economic Indicators<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are closely watching several key economic indicators and events that could impact market performance in the coming days:<\/p>\n<p>1. <b>Home Sales and Construction Data<\/b>: Monthly reports on home sales, house prices, and construction spending are expected to be released this week, providing insights into the health of the real estate market.<\/p>\n<p>2. <b>Labor Market Update<\/b>: The Labor Department will report initial unemployment claims for the week ended December 28 on Thursday, offering a glimpse into the current state of the job market.<\/p>\n<p>3. <b>Federal Reserve Policy<\/b>: Lingering concerns about elevated interest rates continue to weigh on investor sentiment. The market is still adjusting to the Federal Reserve&#8217;s recent indications that fewer rate cuts may occur in 2025 than previously anticipated.<\/p>\n<p>4. <b>Government Debt Ceiling<\/b>: Treasury Secretary Janet Yellen has warned that the government will hit its borrowing limit next month, potentially triggering the use of &#8220;extraordinary measures&#8221; to prevent a U.S. default.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Commodities_and_Cryptocurrencies\"><\/span>Commodities and Cryptocurrencies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the commodities market, <b>oil prices<\/b> showed a slight decline. Brent crude, the international benchmark, fell 0.2% to $73.67 per barrel, while West Texas Intermediate (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WTI\">WTI<\/a>) U.S. prices dropped 0.2% to $70.48 per barrel.<\/p>\n<p><b>Natural gas prices<\/b> saw a significant surge, jumping 20% to reach a nearly two-year high. This spike is attributed to expectations of increased demand and potential supply constraints due to an incoming cold blast.<\/p>\n<p>In the cryptocurrency space, <b>Bitcoin<\/b> continued its retreat from recent highs, trading at $92,000. This represents a significant pullback from its peak of $106,000 earlier in the month, which was driven by optimism surrounding potential crypto-friendly policies from the upcoming administration.<\/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 2024 draws to a close, market participants are reflecting on a year of substantial gains while also considering the challenges that lie ahead in 2025. The recent market pullback serves as a reminder of the ongoing uncertainties surrounding interest rates, inflation, and global economic conditions.<\/p>\n<p>Investors will be closely monitoring economic data releases and central bank communications in the coming weeks to gauge the potential trajectory of markets in the new year. With only one trading day left in 2024, it remains to be seen whether the major indexes can regain some ground or if they will end this remarkable year on a subdued note.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Retreat in Final Trading Days of 2024 As the final trading days of 2024 unfold, Wall Street is [&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":[4,33,225,391,970,3767,3768],"class_list":["post-48653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-tsla","tag-msft","tag-aapl","tag-amzn","tag-wti","tag-ba","tag-googl"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48653","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=48653"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/48653\/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=48653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=48653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=48653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}