Here are the most important news items that investors need to start their trading day:
1. Dull December
Stocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell 1.8% last week. The S&P 500 also slid 0.6% during the period. The only winner was the Nasdaq Composite, which rose 0.3% for the week. Investors are looking ahead to the Federal Reserve’s December interest rate decision Wednesday. Policymakers are widely expected to cut the Fed’s benchmark rate by a quarter of a percentage point. Follow live market updates.
2. Bitcoin bonanza
Bitcoin hit a fresh record Sunday evening, topping out above $106,000. The cryptocurrency’s torrid run got a boost from market expectations that the Fed would trim rates again this week. Bitcoin has now climbed 50% since the presidential election and 145% this year.
3. AI cash injection
Softbank CEO Masayoshi Son speaks to the press after meeting with Donald Trump at Trump Tower in Manhattan, New York City, on Dec. 6, 2016.
Brendan McDermid | Reuters
4. GM’s growth gambits
5. Order up
Close-up of McDonald’s Double Quarter Pounder with Cheese burger, San Ramon, California, August 3, 2024.
Smith Collection | Gado | Archive Photos | Getty Images
As consumers watched their spending follow years of elevated inflation, the restaurant industry was further divided into winners and losers this year. Fast-food chains like McDonald’s and Wendy’s had a tough stretch – though leaning into deals helped to boost traffic to restaurants. Yum Brands’ Taco Bell had a better year, as diners thought it offered better value for their money. Meanwhile, fast-casual chains like Cava and Wingstop enjoyed strong years. Read more about the restaurant industry’s 2024 winners and losers here.
– CNBC’s Brian Evans, Jesse Pound, Tanaya Macheel, John Melloy, Michael Wayland and Amelia Lucas contributed to this report.
#stock #market #opens #Monday
#stock #market #opens #Monday