Lunes 16/12/24

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Stock Market Today: Nasdaq, S&P 500 Rise; Bitcoin Rallies

Broadcom stock emerges again; Bitcoin tops $106,000

U.S. stocks are trying to bounce back from a lacklustre week, with investors awaiting the last Federal Reserve policy meeting of 2024.

The recent divergence between the tech-heavy Nasdaq Composite and the Dow Jones Industrial Average continued.

The Nasdaq was firmly higher, coming off its fourth straight week of gains. The Dow, meanwhile, was bouncing between small gains and losses after falling for its seventh straight session on Friday—its longest losing streak since early 2020.

Investors are largely convinced that the Fed will approve an interest-rate reduction on Wednesday for its third consecutive meeting. The big question is what it will signal about its future plans, with many expecting a shift to a slower pace of cuts.

Stock indexes rose modestly, led by the Nasdaq. The S&P 500 was also higher after slipping last week. The Dow was little changed.

Bitcoin traded around a record high above $106,000.

Broadcom shares extended Friday's surge after the chip and software company reported a big jump in revenue and raised its dividend. Other chip stocks were mixed: Micron Technology jumped, while Nvidia slipped.

Treasury yields edged up again after a surprisingly intense bond selloff sent yields sharply higher last week.

Global markets were broadly lower. Chinese stocks fell after data from China showed an unexpectedly sharp slowdown in retail-sales growth. Disappointing economic data also dragged down stocks in Europe.

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LAST CHG %CHG
DJIA 43717.48 -110.58 -0.25
S&P 500 6074.08 22.99 0.38
Nasdaq Composite 20173.89 247.17 1.24
Japan: Nikkei 225 39517.64 60.15 0.15
UK: FTSE 100 8262.05 -38.28 -0.46
Crude Oil Futures 70.59 -0.12 -0.17
Gold Futures 2670.60 0.60 0.02
Yen 154.10 -0.06 -0.04
Euro 1.0512 -0.0002