DOW JONES–Profit-taking leads to some sharper losses on Wall Street at the end of the week. On Friday afternoon (local time), the Dow Jones index fell by 1.2 percent to 42,801 points. The S&P 500 and the Nasdaq Composite fell by 1.7 and 2.2 percent, respectively. However, traders point to the low sales because many market participants are still on their Christmas break. The news situation is thin. There are neither important economic data nor company events on the agenda.
The renewed rise in bond yields is having a slowing effect. The dominant expectation here is that the US Federal Reserve will lower interest rates more slowly next year. New Food received this assumption from initial jobless claims on Thursday. These rose less sharply than expected in the previous week, which shows that the employment situation remains good.
The dollar is coming back slightly despite rising market interest rates; the dollar index falls by 0.1 percent. The euro is recovering somewhat thanks to rising bond yields Eurozonebut is being held back by the escalating French budget deficit, which, according to Swissquote, the new government is unlikely to be able to get under control.
Oil prices are firmer. Brent and WTI prices rise by up to 0.8 percent. The players on the oil market speculated on further economic stimulus from the Chinese government and a subsequent increase in Chinese demand for oil, according to the reason given by the trade.
The price of gold is falling. The troy ounce lost 0.7 percent to $2,616. Over the course of the week, there is likely to be a slight loss for the precious metal. Market pessimism over the prospect of significant US interest rate cuts in the new year continued to put pressure on gold prices in late December, reflecting comments from the US Federal Reserve and the inflationary nature of many of the measures planned by President-elect Donald Trump, it is said . Longer-term higher interest rates generally dampen the attractiveness of interest-free gold.
Tesla shares in reverse gear
Tesla shares continue to make increasing profits, with the shares falling for the second day in a row and losing a further 4.7 percent. The stock hit a record high of $488.54 on December 18th. The shares have risen by around 81 percent since November 6th, when they started a rally after the US presidential election.
Biontech’s depositary receipts (ADR) will go up by 0.5 percent. The vaccine manufacturer has settled patent disputes in the USA with two settlements and is paying a total of almost 1.26 billion US dollars to the US health authority NIH and the University of Pennsylvania. This involves, among other things, retroactive license fees for patent rights in connection with the Covid-19 vaccine brought onto the market together with US partner Pfizer.
When it comes to small caps, Grid Dynamics jumped 9.4 percent. The stocks will be added to the S&P Smallcap 600 on January 2nd. There they replace the shares of Revelyst, which are unchanged.
Viracta Therapeutics collapses by 34.6 percent. The company has stopped the clinical trial of a drug to treat certain lymphomas, citing cost reasons. Viracta is now considering “strategic options,” which could include selling the company.
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INDEX last +/- % absolute +/- % YTD
DJIA 42,801.12 -1.2% -524.68 +13.6%
S&P 500 5,937.74 -1.7% -99.85 +24.5%
Nasdaq Comp. 19,570.62 -2.2% -449.74 +30.4%
Nasdaq-100 21,310.99 -2.1% -457.32 +26.7%
US bonds
Maturity Yield Bp to VT Yield VT +/-Bp YTD
2 years 4.31 -1.0 4.32 -10.7
5 years 4.44 +0.4 4.44 44.3
7 years 4.53 +1.7 4.51 55.6
10 years 4.61 +3.0 4.58 72.8
30 years 4.80 +3.9 4.76 83.4
FOREX last +/- % Fri, 7:40 am Mon, 5:01 pm % YTD
EUR/USD 1.0418 -0.1% 1.0411 1.0394 -5.7%
EUR/JPY 164.32 -0.2% 164.16 163.27 +5.6%
EUR/CHF 0.9401 +0.3% 0.9366 0.9352 +1.3%
EUR/GBP 0.8296 -0.3% 0.8313 0.8302 -4.4%
USD/JPY 157.72 -0.1% 157.70 157.14 +12.0%
GBP/USD 1.2559 +0.3% 1.2524 1.2520 -1.3%
USD/CNH (Offshore) 7.2982 -0.1% 7.3022 7.3091 +2.5%
Bitcoin
BTC/USD 93,916.50 -1.9% 96,314.10 93,156.40 +115.7%
CRUDE OIL most recently VT-Settlem. +/-% +/- USD% YTD
WTI/Nymex 70.17 69.62 +0.8% +0.55 +0.8%
Brent/ICE 73.80 73.26 +0.7% +0.54 -0.2%
GAS VT Settlem. +/- EUR
Dutch TTF 47.765 46.19 +3.4% +1.58 +20.3%
METALS last day previous +/- % +/- USD % YTD
Gold (spot) 2,615.88 2,633.35 -0.7% -17.47 +26.8%
Silver (spot) 29.38 29.85 -1.6% -0.47 +23.6%
Platinum (spot) 921.70 939.25 -1.9% -17.55 -7.1%
Copper future 4.10 4.11 -0.3% -0.01 +3.4%
YTD based on the previous day’s closing level
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(END) Dow Jones Newswires
December 27, 2024 12:21 ET (17:21 GMT)