On November 15, 2018, New York City received its first snow of the season.
Eric McGregor | Rocket Light | 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
South Korea declares and lifts martial law
South Korean President Yoon Seok-yeol announced early Wednesday morning Emergency martial law will be lifted After the National Assembly Vote to overturn Yin’s decree Posted late Tuesday night. Yoon has clashed with opposition parties in recent weeks over the 2025 budget. Yoon called on lawmakers to stop “budget manipulation” when he announced the lifting of martial law.
Korean market turmoil
Korean market Open lower on Wednesday Political unrest rocked the country overnight. The Kospi index recently fell more than 2%. won Rebound from early sharp losses – fell to two-year lows against the greenback – but ended lower against the greenback. Likewise, Korean stocks listed in the United States. before cutting some losses.
U.S. markets trade mixed
The US market is tuesday mix. this S&P 500 Index It’s flat, Dow Jones Industrial Average dropped, but Nasdaq Index Rose. European regional Stoke 600 Add 0.37%. French CAC 40 As traders assessed the country’s Prime Minister Michel Barnier will Promote passage of budget bill without a parliamentary vote.
BlackRock expands private credit business
BlackRock will Acquisition of HPS Investment PartnersThe company, a firm specializing in private credit investments, announced a $12 billion investment on Tuesday. The deal will put BlackRock, the world’s largest asset manager, in a stronger position in private credit. HPS had originally planned to go public, but the move attracted the attention of BlackRock, sources said.
(PRO) Review policy more than data
Since U.S. inflation surged, the monthly jobs report, along with inflation data, has become the key economic data that moves markets. As deflation progresses, traders appear to divert their attention To U.S. President-elect Trump economic policy.
bottom line
December may have sparked a Mariah Carey thaw, but stocks were tepid at the start of the month.
this S&P 500 Index is essentially flat, and Dow Jones Industrial Average down 0.17%. this Nasdaq IndexHowever, due to apple rose 1.3%, hitting a new 52-week high.
It is unlikely that stocks will remain in the permafrost this month.
December is the month ever Third best month of the yearaccording to the Stock Trader’s Almanac.
The stock market may fluctuate slightly in early December, Write According to CNBC’s Bob Pisani, a tax-loss sale is a phenomenon in which investors sell loss-making assets to reduce the tax burden on other assets that receive capital gains. But as the end of the year approaches, stocks tend to regain momentum.
“Historically, these strong returns tend to be back-end loaded,” said George Smith, portfolio strategist at LPL Financial.
Additionally, in presidential election years, December typically moves up a notch to become second best month for stocks.
As Ken Mahoney, CEO of Mahoney Asset Management, noted, “The market has never fallen in December when the market has risen 10% or more following the election of a newly elected president.”
Additionally, investors may be awaiting the U.S. November employment report due on Friday before making any major moves. The data will be the Fed’s last look at the labor market before its rate-setting meeting on Dec. 17-18.
The market currently predicts that the probability that the Federal Reserve will cut interest rates by 25 basis points at this meeting is 72.9%, which is more optimistic than last week’s 59.4%. CME FedWatch Tool.
If the Fed does cut interest rates, the move might also remove lingering frostbite from the stock market, just in time for them to hear the sleigh bells.
—CNBC’s Bob Pisani, Sarah Min, Hakyung Kim, Sean Conlon, Lisa Kailai Han and Alex Harring contributed to this report.
