After a strong start to the trading week, the major stock indexes nearly reached a flatline on Monday night. This follows a period of anticipated reduced trading activity due to the holiday week. The New York Stock Exchange closes early at 1 p.m. ET on Tuesday for Christmas Eve, while the bond market closes at 2 p.m. Both markets are closed on Wednesday for Christmas Day. Tech stocks and semiconductor companies were among the day's biggest winners, boosting the S&P 500 and Nasdaq.
Some investors are hoping for a traditional Santa Claus rally to finish a year that has already seen strong market performance. Jay Hatfield of Infrastructure Capital Advisors, however, predicts a temporary market slowdown in the coming days. He maintains his year-end 2024 S&P 500 target of 6,000, implying a modest 0.4% increase from Monday's closing value. Hatfield believes a Santa Claus rally, if it occurs, will be relatively weak. He told CNBC, 'We might get a Santa Claus rally, but those aren't that powerful rallies. We're neutral on the market.' Hatfield also argues that investors are overlooking the deflationary impact of the dollar's appreciation. He believes the dollar's gains have already offset the potential price increases from tariffs. 'In general, investors are too optimistic about growth and too pessimistic about inflation,' Hatfield said in an interview with CNBC. 'It's kind of irrational for investors to fear inflation from tariffs, but yet the dollar has already wiped out all of the potential – or most of the potential – increase in prices.' If the Trump administration raises tariffs by 10% but the dollar appreciates by 10%, Hatfield believes the impact will be insignificant
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Источник: nbcchicago - 🏆 545. / 51 Прочитайте больше »
Источник: wjxt4 - 🏆 246. / 63 Прочитайте больше »
Источник: FXStreetNews - 🏆 14. / 72 Прочитайте больше »