LIVE MARKETS-Wall Street near flat, but Dow ends 10-day losing streak

Reuters
2024-12-20
LIVE MARKETS-Wall Street near flat, but Dow ends 10-day losing streak

S&P 500, Nasdaq end down 0.1% each; Dow up 0.04%

Real estate leads S&P sector decliners; Utilities up the most

Dollar, gold edge up; crude down ~1%; bitcoin falls >3%

U.S. 10-Year Treasury yield rises to ~4.57%

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WALL STREET NEAR FLAT BUT DOW ENDS 10-DAY LOSING STREAK

Major U.S. stock indexes ended a volatile session little changed on Thursday, although the Dow .DJI snapped a 10-day losing streak.

The S&P 500 .SPX and Nasdaq .IXIC were slightly in the red by day's end, extending Wednesday's sharp selloff tied to a signal from the Federal Reserve that it may deliver fewer interest rate cuts in 2025 than it had earlier projected.

Thursday's data underscored the view of a resilient economy. One report showed weekly initial jobless claims came in better than expected, while another showed gross domestic product for the third quarter was revised to show a 3.1% increase from the previously reported 2.8% pace.

Micron Technology MU.O shares fell 16.2% following a disappointing outlook from the company, and the stock was among the biggest drags on the S&P 500.

The real estate sector .SPLRCR added to Wednesday's losses, ending down 1.7%, the most of any S&P 500 sector.

Here is the closing market snapshot:

(Caroline Valetkevitch)

*****

FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:

IN FED-FOCUSED WEEK, SOME KEY US COMPANY RESULTS - CLICK HERE

POWELL IS WALKING A TIGHTROPE WITH FED RATE CUT, SAYS LAZARD'S RON TEMPLE - CLICK HERE

POST-FED HANGOVER DATA: GDP, HOME SALES, JOBLESS CLAIMS, ET AL - CLICK HERE

IS IT TIME TO REEVALUATE THE FED’S INFLATION MANDATE? - CLICK HERE

U.S. INDEXES RECOVER A BIT AFTER FED DAY SELLOFF - CLICK HERE

BITCOIN IN SEARCH OF SANTA RALLY AFTER FED-FUELED SELLOFF - CLICK HERE

S&P 500 INDEX WALLOPED, BUT IS IT WASHED OUT? - CLICK HERE

HERE COMES THE BOE - CLICK HERE

GOLD: STILL A GOOD CHRISTMAS GIFT - CLICK HERE

FED SENDS STOXX 600 TO NEAR THREE-WEEK LOW - CLICK HERE

EUROPE BEFORE THE BELL: FUTURES SLIDE ON FED OUTLOOK - CLICK HERE

JAPAN HOLDS, BANK OF ENGLAND UP NEXT - CLICK HERE

Closing snapshot https://tmsnrt.rs/4iMeZu8

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