The S&P 500 Index ($SPX) remains unchanged as the Dow Jones Industrials Index ($DOWI) records a slight gain of +0.09%, while the Nasdaq 100 Index ($IUXX) sees a minor decline of -0.06%. This stability comes ahead of an early market close at 1 PM ET and the upcoming Christmas holiday. In a report released on December 20, initial unemployment claims in the US decreased by 10,000 to 214,000, better than expectations of 224,000. However, continuing claims rose by 38,000 to 1.923 million, surpassing the anticipated 1.900 million.
On the macroeconomic front, Q3 real GDP in the US surged by +4.3%, outperforming projections of +3.3%. Conversely, the Conference Board’s consumer confidence index fell sharply by -3.8 points to 89.1, falling short of expectations. Seasonal trends indicate bullish sentiment as the S&P 500 has historically risen 75% of the time in the last two weeks of December, averaging a climb of 1.3%.
Overseas, China’s central bank issued a cautious statement on December 20, emphasizing long-term stability without substantial interest rate cuts amid economic challenges. The Euro Stoxx 50 decreased by -0.05%, while China’s Shanghai Composite increased by +0.53%. US Treasury markets saw mixed activity, with the 10-year T-note yield slightly down at 4.155%.
