Last Updated: 4:09 PM EST
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Stock indices finished today’s trading session mixed. The Dow Jones Industrial Average (DJIA) fell for the seventh straight day, dropping 0.2%, while the Nasdaq 100 (NDX) gained 0.76%. At the same time, the S&P 500 (SPX) closed flat.
In addition, the Bureau of Labor Statistics reported that U.S. import prices unexpectedly edged up 0.1% in November after a revised 0.1% drop in October. For reference, economists predicted a 0.3% decline. On an annual basis, import prices rose 1.3%. Fuel prices played a key role in the increase by climbing 1% for the month due to higher natural gas and petroleum costs.
Furthermore, export prices were flat in November, which came in above expectations for a slight decline. On a yearly basis, export prices rose 0.8%, the biggest gain since July. Non-agricultural prices were steady after a jump in October, as a 1.0% drop in chemical prices offset higher costs for nonferrous metals and fuel, while agricultural prices fell due to lower soybean and fruit costs.
First Published: 3:51 AM EST
U.S. stock futures traded higher on Friday morning after major Wall Street indices closed lower yesterday. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.47%, 0.14%, and 0.21%, respectively, at 3:30 a.m. EST, December 13.
On Thursday, the Dow Jones Industrial Average fell for a sixth consecutive day, while the Nasdaq Composite dipped below the 20,000 mark. Specifically, the Nasdaq Composite and the S&P 500 fell 0.5% each, while the Dow Jones declined 0.7%.
Importantly, the market sentiment was hurt by a hotter-than-expected inflation report, with the November Producer Price Index rising 0.4% compared to the projected 0.2%. Also, the post-election rally in equities has sparked concerns about a potential overvaluation.
However, some analysts remain optimistic about the market’s prospects. Darrell Cronk, chief investment officer at Wells Fargo’s (WFC) Wealth & Investment Management unit, suggests that equity markets look attractive for 2025 owing to improving economic scenarios and favorable policy developments.
In other notable news, UnitedHealth Group (UNH) shares were down 3.3% yesterday, owing to the sudden death of its healthcare unit CEO. Also, Adobe (ADBE) dropped 14% due to a weaker-than-expected outlook for 2025.
Moving to the extended trading session, Broadcom (AVGO) surged 14% following a strong fourth-quarter earnings report, fueled by a 220% surge in AI revenue. RH (RH) also saw its stock jump 18% on promising revenue growth projections.
On the economic front, investors are awaiting the release of November’s Import and Export data. This economic indicator could provide further insights into the health of the US economy.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.322% at the time of writing. At the same time, WTI crude oil futures are trending higher, hovering near $70.35 per barrel as of the last check.
Elsewhere, European indices opened lower on Friday morning as investors assessed the European Central Bank’s (ECB) latest interest rate cut decision.
Asia-Pacific Markets Ended Lower on Friday
Asia-Pacific indices closed lower today. Investors are cautious after China’s recent Central Economic Work Conference offered limited policy details. Also, the market is eagerly awaiting the outcome of the upcoming Fed meeting and major economic reports from China, due next week.
At the same time, Japan’s Nikkei and Topix indices both declined by 0.95%. Further, China’s Shanghai Composite and Shenzhen Component indices fell 2.01% and 2.23%, respectively. Also, Hong Kong’s Hang Seng Index was down 2.09%.
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