The S&P 500 ended higher Monday because investors were seen continuing the Wall Street’s year-end positive momentum. In understanding the global stock market news, the broader market index saw an increase of ~0.39% to end the session at ~4,622.44 levels, marking its highest closing level since the month of March 2022. Dow Jones Industrial Average climbed by ~157.06 points, or 0.43%, to close at ~36,404.93. This was the index’s highest close since the month of January 2022. Finally, Nasdaq Composite went up by ~0.20% to 14,432.49.
S&P 500 and Nasdaq are on track for their 6th consecutive weekly gain. In this week, investors should eye key inflation data, which might affect the market movements and interest rate decisions from the US Fed. Central bank will kick off their 2-day meeting on Tuesday. While traders continue to track global stock market news, specific stocks movements were the key in the Monday’s session.
Macy’s shares saw an increase of over ~19% after the news about the buyout offer for the consideration of $5.8 billion hit the market. On the contrary, tech stocks Apple and Nvidia fell by ~1.3% and ~1.9%, respectively, impacting the gains of Nasdaq. Finally, shares of Meta Platforms fell by over ~2%.
Coming to the European market, these shares saw marginal gains as European investors track key US economic data and rate decisions from the leading major central banks. Pan-European STOXX 600 index saw an increase of ~0.30%, with MSCI’s gauge of stocks across the globe climbing ~0.29%. Emerging market stocks saw a decline of ~0.15%. Japan’s Nikkei saw a strong increase of ~1.50%.
On the commodities front, the oil prices increased slightly because investors tried to balance concerns regarding the OPEC+ production cuts versus the tensions about softening demand. Gold declined to the near 3-week low because focus was on Tuesday’s CPI report. With this, spot gold fell by ~1.1% to close at ~$1,980.91 per ounce.
China’s worries of falling into deflation territory got exaggerated afterconsumer prices declined by ~0.5% in November. China’s CSI 300 share index was down to the near 5-year low. Hang Seng Index was also down by ~1%.
Coming to the Indian markets, frontline indexes Sensex and Nifty ended higher, but with marginal gains in the volatile session. However, these indexes touched new record highs Monday. Finally, Sensex ended at ~69,928.53, exhibiting a rise of ~102.93 points, with Nifty50 closing at ~20,993.85, up by just ~0.1%. Midcaps and small-caps outperformed these frontline indexes Monday.
Read Also: