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Economic Highlights 11.12.2024: Financial Markets Decline Ahead of U.S. CPI Report

11 thg 12, 2024

Stock Market Update: December 10 - U.S. CPI Report Anticipated


On December 10, the stock market witnessed a broad decline as investors awaited the U.S. Consumer Price Index (CPI) report, scheduled for release on December 11. The CPI data is expected to influence the Federal Reserve's interest rate decisions at its December meeting. Meanwhile, gold and oil prices saw mild fluctuations.


At the close of trading on December 10, the S&P 500 fell 0.3% to 6,034.91 points, the Nasdaq Composite dropped 0.25% to 19,687.24 points, marking its second consecutive decline, and the Dow Jones lost 154.10 points (0.35%) to 44,247.83 points, extending its losing streak to four sessions.


Investors are closely monitoring the upcoming CPI report, expected to shed light on inflation trends. Analysts surveyed by Dow Jones forecast a 0.3% month-on-month increase in November and a 2.7% year-on-year rise.


As of the morning of December 11, the USD Index rebounded to 106 points, and the yield on the 10-year U.S. Treasury note ticked up to 4.237%.


Gold prices climbed, with spot gold rising 1.3% to $2,692.32 per ounce and gold futures up 1.2% to $2,718.40 per ounce. Oil prices also edged higher, with Brent crude gaining 0.07% to $72.19 per barrel and WTI crude increasing 0.32% to $68.59 per barrel. Both benchmarks had risen over 1% on December 9.


In other commodities, January silver futures rose 0.4% to $32.461 per troy ounce, platinum fell 1% to $949.1 per troy ounce, and copper dipped 0.1% to $4.2355 per pound.


Source: SFVN (Compiled)

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