At the close of trading on December 5, 2024, the Dow Jones Industrial Average fell by 0.55%, closing at 44,765.71 points. The Nasdaq Composite dropped 0.18%, ending at 19,700.26 points, while the S&P 500 lost 0.19%, closing at 6,075.11 points.

Investors are focusing on the key US jobs data scheduled for release on December 6, 2024. According to a Dow Jones survey, economists predict the US economy added 214,000 jobs in November 2024.

This jobs report could provide insights into the Federal Reserve's upcoming interest rate decision at its policy meeting later this month. On December 4, Fed Chairman Jerome Powell indicated that the US economy is strong enough to allow the central bank to cautiously lower interest rates.

In commodities, the spot gold contract declined by 0.8%, settling at $2,628.54 per ounce. Gold futures also lost 0.9%, closing at $2,653.50 per ounce.

The yield on 10-year US Treasury bonds rose by 0.6%, while Bitcoin surged, surpassing the $100,000 mark for the first time on December 5, 2024.

At the same time, WTI crude oil futures fell by 0.35%, closing at $68.30 per barrel, while Brent crude dropped by 0.3%, ending at $72.09 per barrel.

According to internal sources, the OPEC+ alliance will maintain its collective production level at 39.725 million barrels per day through the end of 2026. Notably, eight OPEC+ members have agreed to extend the voluntary 2.2 million barrels per day production cut into the first quarter of 2025, before gradually increasing output from April 2025 to September 2026.

Other commodities saw mixed performance, with silver for January 2025 down 1.1% to $31.251 per troy ounce, platinum for January 2025 dropping 1.2% to $941.60 per troy ounce, and copper for January 2025 falling 0.2% to $4.155 per pound.

Source: SFVN (Compiled)