Wednesday, December 25, 2024
HomeWorld NewsStrong close on Wall Street cheers holiday-slow markets | Real Time Headlines

Strong close on Wall Street cheers holiday-slow markets | Real Time Headlines

Traders work on the trading floor of the New York Stock Exchange on December 9, 2024.

Michael Nagel | Bloomberg | Getty Images

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

Big car merger
Nissan and Honda Already started Formal merger discussionsthe companies announced Monday. Negotiations will end in June 2025. Honda Shares last rose 13.4% on Tuesday and are expected to continue rising Best day since October 2008Previously, the company announced plans to repurchase 24% of its outstanding shares by December 23 next year.

Taiwan ranks among the top markets in Asia
As of December 23, Taiwan Taiex has risen by 28.85%, becoming the world’s largest exchange. Asia Pacific’s best-performing stock markets 2024. British Semiconductor surge 82.12% in 2024, while Foxconn – which trades at Hon Hai Precision Industry — up 77.51%.

Positive start to the holiday
US market Monday’s rise This comes amid strong performance among large-cap technology stocks. The New York Stock Exchange was closed early Tuesday for Christmas Eve. Asia Pacific stocks Mixed Tuesday. Japanese Nikkei 225 Index Despite Honda’s gains, the company’s shares fell about 0.4%. At the same time, Hong Kong Hang Seng Index An increase of more than 1%.

UK GDP is not very good
this UK economy fails to expand for the three months to September, according to revised data released by the National Bureau of Statistics on Monday. Gross domestic product was previously expected to grow 0.1% in the third quarter. Earlier this month, ONS data showed the UK economy unexpectedly grew Shrink 0.1% October.

(PRO) Buffett’s biggest war chest
Warren Buffett’s Berkshire Hathaway Currently it is Holds $325 billion in cash ——In absolute terms, its hoarding amount is the largest. According to Oppenheimer data, cash currently accounts for about 30% of Berkshire’s total assets, the highest proportion in 34 years. Buffett has sold large amounts of shares in Apple and Bank of America this year. Why does the 94-year-old legendary investor hold so much cash? Analysts also expressed their opinions.

bottom line

U.S. markets started the trading week with holiday cheer. this S&P 500 Index up 0.73% Dow Jones Industrial AverageIt recovered earlier losses and rose 0.16%. this Nasdaq Index Since large tech companies such as NVIDIA, Tesla and meta platform.

However, Bitcoin proxy stocks micro strategy Cryptocurrency prices fell below $93,000 on Monday, sending the Nasdaq 100 down 8.8% on its first day.

Still, MicroStrategy remains one of the top-performing U.S. technology companies with a market capitalization of $5 billion or more, according to FactSet. Its shares have soared 426% so far this year, largely thanks to the company’s Bitcoin Stockswhich started accumulating in 2020.

MicroStrategy’s Bitcoin holdings are now worth about $42 billion as the price of Bitcoin rose following the election of Donald Trump. This is the basis on which the company’s market capitalization has surged from approximately $1.1 billion to $82 billion since it began buying large amounts of Bitcoin.

Investors looking to take advantage of MicroStrategy’s explosive rise should remember that the company’s shares are currently trading on the back of the price of Bitcoin.

On the other hand, if the price of Bitcoin plummets for any reason (although cryptocurrencies can be quite volatile), MicroStrategy’s stock price could also fall.

Trading is likely to be light this week. U.S. markets will be closed early on Tuesday and will be closed on Wednesday for Christmas.

But light trading doesn’t mean the market is less volatile. “With the market’s primary uptrend still intact, we are not giving up on the possibility of Santa Claus coming to Broad & Wall this year,” Piper Sandler chief market technician Craig Johnson said in a note.

As investors celebrate the holidays — and the S&P Index is up 25.25% so far this year — they may find extra gifts under the Christmas tree.

—CNBC’s Yun Li, MacKenzie Sigalos and Ari Levy contributed to this report.

The CNBC Daily Open will be on hiatus and will return next year. happy holidays!

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments