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Today marks the start of the Santa Claus trading window, a historically bullish 7-day stretch. The stock market will close at 1 p.m. for a shortened trading session due to Christmas Eve.
Indexes edged slightly higher as traders took a breather after the huge post-election rally. The Fed will deliver its next rate decision at 2 p.m.
In other words, the stock price you see today, or even tomorrow, is less likely to be based on facts and more likely to be based on investor sentiments in that moment.
The tech sector dragged US stocks lower on Monday, with major indexes down about 1%. The extended decline in the Nasdaq 100 and S&P 500 can be linked to rising bond yields over the past few weeks.
Stocks surged and the dollar fell Monday after a report said Trump's tariff plans may be watered down. The report followed Trump's broad tariff threats against Canada and Mexico late last year.
Here's what else happened today: Disney said it will appoint Bob Iger's successor as CEO by early 2026. Goldman Sachs said investors should prepare for a decade of muted returns in the stock market.
MacDonald's stock dropped 6% after the Centers for Disease Control and Prevention said an outbreak of E. Coli linked to the fast food chain's quarter pounders led to one death and 10 hospitalizations.
Elsewhere, in the crypto market, Bitcoin soared over 16% to over $24,000 in the past 24 hours as the government plans to protect depositors of SVB and Signature Bank.