World Market News of the 8 January with FXOpen
STOCK FUTURES SLIP AFTER S&P 500 SNAPS NINE-WEEK WIN STREAK
US stock futures were lower Monday morning after the major averages kicked off 2024 with a down week, as traders look ahead to inflation data and big bank earnings in the week ahead.
Dow Jones Industrial Average futures fell by 137 points, or 0.36%. S&P 500 and Nasdaq 100 futures climbed 0.1% and 0.12%, respectively.
On Sunday, congressional leaders announced a deal establishing a $1.59 trillion in top-line spending, in order to avoid a potential government shutdown.
Source: CNBC
AN INFLATION PRINT AND BANK EARNINGS: WHAT TO KNOW THIS WEEK
Corporate earnings season is starting back up on Wall Street.
Reports from some of the nation's largest financial institutions and a crucial reading on inflation will greet investors in the week ahead.
Thursday morning will feature the Consumer Price Index (CPI) for December, with December's Producer Price Index (PPI) out Friday.
Source: Yahoo Finance
HISTORY SAYS THE NASDAQ WILL SOAR IN 2024
After the Nasdaq Composite shed 33% of its value in 2022 -- one of the worst market performances in over a decade -- the index has nearly returned to its former glory, closing the door on 2023 with a gain of 43%.
History offers a hint about what could be ahead in the coming year. Since it first began trading in 1972, in every year that followed a bear-market rebound, the tech-heavy index has continued to rally, gaining 19% on average. While there are no guarantees in investing, this suggests the current recovery has more room to run.
Source: The Motley Fool