Wall street holds steady after record-breaking day
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Wall Street opens cautiously after record gains for the S&P 500 and Nasdaq Composite. Key economic data and central bank decisions are in focus ahead of upcoming Fed meeting.
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Wall Street opens stable after record highs for S&P 500 and Nasdaq. Economic data and central bank moves are driving market expectations ahead of the Fed meeting.
Wall Street Opens Cautiously After Record Gains
Wall Street started the day with caution following record-breaking closes for both the S&P 500 and Nasdaq Composite. The market's attention is now on upcoming economic data and central bank moves.
Economic Data in Focus Ahead of Fed Meeting
In terms of macroeconomic news, inflation for November reached its highest point since April, while producer prices also saw a higher-than-expected increase in the same month. Jobless claims also surpassed expectations, signaling a mixed economic picture. These figures are important as the Federal Reserve's next meeting on December 18 approaches, with markets betting on a 25 basis point interest rate cut.
Central Bank Actions Affecting Market Sentiment
On the global stage, the European Central Bank (ECB) followed expectations by cutting interest rates by 25 basis points. However, the Swiss National Bank made an unexpected move, reducing rates more than analysts had forecast to support the economy.
Mixed Market Performance
On initial data, the Dow Jones remained largely stable, hovering around 44,162 points. In contrast, the S&P 500 saw some selling pressure, dropping to 6,071 points. The Nasdaq 100 also saw a decline of 0.57%, with the S&P 100 slightly in the red, down 0.27%.
Meta Description:
Wall Street opens stable after record highs for S&P 500 and Nasdaq. Economic data and central bank moves are driving market expectations ahead of the Fed meeting.
Wall Street Opens Cautiously After Record Gains
Wall Street started the day with caution following record-breaking closes for both the S&P 500 and Nasdaq Composite. The market's attention is now on upcoming economic data and central bank moves.
Economic Data in Focus Ahead of Fed Meeting
In terms of macroeconomic news, inflation for November reached its highest point since April, while producer prices also saw a higher-than-expected increase in the same month. Jobless claims also surpassed expectations, signaling a mixed economic picture. These figures are important as the Federal Reserve's next meeting on December 18 approaches, with markets betting on a 25 basis point interest rate cut.
Central Bank Actions Affecting Market Sentiment
On the global stage, the European Central Bank (ECB) followed expectations by cutting interest rates by 25 basis points. However, the Swiss National Bank made an unexpected move, reducing rates more than analysts had forecast to support the economy.
Mixed Market Performance
On initial data, the Dow Jones remained largely stable, hovering around 44,162 points. In contrast, the S&P 500 saw some selling pressure, dropping to 6,071 points. The Nasdaq 100 also saw a decline of 0.57%, with the S&P 100 slightly in the red, down 0.27%.