Hey there, readers!
It's Daniel Silva here, bringing you the latest updates on the stock market and other exciting news. Let's dive right in!
U.S. stocks mostly managed a decent turnout on Friday in the last trading session before Christmas. The S&P 500 and Nasdaq both closed the day up, though the Dow Jones Industrial Average was dragged down by Nike, which saw its share price slide nearly 12% after cutting its outlook for the remainder of its fiscal year.
Despite Nike's setback, most Dow stocks closed the day in positive territory. The S&P 500 ended its eighth consecutive week of gains, while the Nasdaq Composite rose to close the week with a 1.2% gain.
Meanwhile, U.S. videogame stocks surprised investors by performing well following a sharp selloff in their Asian counterparts. Chinese game giants Tencent and Netease saw significant losses, but on the U.S. side, Take-Two and Roblox made gains while Electronic Arts slipped only 0.2%.
In other news, Goldman Sachs Research forecasts that the U.S. GDP will grow by 2.1% in 2024, outperforming expectations. Signs point to a low recession risk for the U.S., as inflation cools and employment remains buoyant.
As we look ahead to the new year, there's speculation about what's in store for bitcoin. The price of bitcoin has been on the rise, and the market is primed for the regulatory approval of spot bitcoin ETFs. Will the market sell on the news next year? Only time will tell.
That's all for now, folks! Stay tuned for more exciting updates in the world of stocks and beyond.
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