Stock Market News Today, 12/30/24 – Futures Slip as Investors Brace for Year-End Trading

U.S. stock futures traded slightly lower on Monday morning as investors prepared for the last few trading sessions of 2024. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.19%, 0.25%, and 0.24%, respectively, at 3:37 a.m. EST, December 30.

The previous session saw a sharp decline, with all major sectors witnessing losses. The Dow Jones, the S&P 500, and the Nasdaq Composite closed lower by 0.8%, 1.1%, and 1.5%, respectively. This decline can be attributed to a rise in U.S. Treasury yields after the Federal Reserve indicated a potentially slower pace of interest rate cuts in 2025.

Despite this minor pullback, Wall Street has enjoyed a strong year, with the S&P 500 and Nasdaq Composite posting year-to-date gains of 25.2% and 33.6%, respectively. The Dow Jones Industrial Average also gained 14% so far in 2024.

This week, investors will be awaiting key economic reports, including December’s Chicago Purchasing Managers’ Index (PMI) and Pending Home Sales for November, scheduled for release today. Further, the ISM Manufacturing PMI data will be released on Friday.

Investors should note that the market will remain closed on Wednesday in observance of New Year’s Day.

Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.597% at the time of writing. At the same time, WTI crude oil futures are trending lower, hovering near $70.51 per barrel as of the last check.

Elsewhere, European indices opened lower on Monday morning, with trading activity expected to remain subdued as the year comes to a close.

Asia-Pacific Markets Traded Mixed on Monday

Asia-Pacific indices traded mixed today following a decline in U.S. stocks on Friday. Thin trading volumes ahead of the New Year holiday and rising U.S. Treasury yields contributed to the cautious market sentiment.

At the same time, Hong Kong’s Hang Seng Index was down 0.24%. Further, Japan’s Nikkei and Topix indices declined 0.96% and 0.6%, respectively. However, China’s Shanghai Composite and Shenzhen Component indices gained 0.21% and 0.1%, respectively.

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