Traders work at the New York Stock Exchange on December 17, 2024.
New York Stock Exchange
This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see? You can subscribe here.
What you need to know today
Automobile manufacturers, consortiums
Nissan Shares soared 23.7% on Wednesday Tuesday report The Japanese automaker is Consider merging and honda cars. The two companies also plan to Mitsubishi Motors – Nissan owns 24% of the shares, ultimately becoming the holding company’s largest shareholder. Nissan in trouble lately: second-quarter operating profit Plunged 85%.
Dow drops for ninth straight day
Tuesday, Dow Jones Industrial Average fell 0.61%, marking nine consecutive losses. this S&P 500 Index Down 0.39% Nasdaq Index down 0.32%. Asia Pacific market Mixed Wednesday. Japanese Nikkei 225 Index The yen fell about 0.4% as investors assessed the country’s trade deficit in November was larger than expected and awaited the Bank of Japan’s interest rate decision this week.
New craze for new stock listings in Hong Kong
After three consecutive years of decline, new shares were listed on the Hong Kong Stock Exchange this year Transaction value risesaccording to Dealogic data. This year’s 63 deals raised $10.65 billion, more than 80% higher than the total value in 2023. Commitment to support It is taking effect for the Hong Kong market.
What to expect from the Fed
The Federal Reserve will wrap up its two-day rate-setting meeting later on Wednesday. although sticky inflation and a flexible labor marketthe Fed’s broad Expected to cut interest rates by 25 basis points. but one CNBC investigation A survey of 27 respondents, including economists, strategists and fund managers, showed that only 63% believed the Fed’s move was the right one.
(PRO) When to take profits
NVIDIA Shares may have fallen 1.2% yesterday, plummeting Delving into the field of correctionbut the chipmaker is still up 163.3% year to date. This suggests some investors may have taken profits from Nvidia’s stunning rally. CNBC Pro uses charts to analyze when investors make the best investments Sell the best performing stocks.
bottom line
In February 1978, the Bee Gees’ song “Stayin’ Alive” became Billboard’s top song of the month. It’s also an anthem for the Dow Jones Industrial Average, which has fallen for nine consecutive days.
Nearly fifty years later, the Dow Jones Industrial Average is once again on a nine-game losing streak. Taking another clue from the billboard charts, all investors want over Christmas is for the Dow Jones to stop losing money.
That said, while the numbers are scary, it’s not a major hurt for the 30-stock index.
this heaviest resistance The Dow Jones is UnitedHealthCNBC’s Li Yun pointed out that this factor is responsible for more than half of the index’s decline over the past eight trading days. Health insurance companies are shocked fatal shooting The resignation of its chief executive, Brian Thompson, and a broader sell-off in the industry.
Outside of the Dow Jones, the stock market remains ebullient. While the S&P and Nasdaq also declined in the final session, both indexes hovered near record closing prices. That suggests that it’s primarily the Dow’s components — “old economy” stocks like industrials, financials and consumer discretionary stocks — that are suffering.
“Wall Street is realizing that a Trump presidency may not be as good for stocks as some had hoped,” said David Russell, head of global market strategy at TradeStation. “Financials and industrials rallied on his victory, but now may have to face higher interest rates and trade uncertainty, while health care faces the greatest political risk in recent memory.”
Additionally, the Dow Jones may continue to fall, but not by that much. The index is just 3.6% away from its all-time high, and its 50-day moving average is still trending upward.
The stock market does not give investors money for free. But we’re not quite in trouble yet.
—CNBC’s Yun Li, Michelle Fox, Fred Imbert, Alex Harring, Adrian van Hauwermeiren, Brian Evans and Samantha Subin contributed to this report.
