US Stocks Retreat as Investors Await Fed Policy Decision

📆 12/18/2024 12:44 AM
📰 Investingcom

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FEDERAL RESERVE,INTEREST RATES,STOCK MARKET

US stocks declined on Tuesday, with the Dow experiencing its ninth consecutive session of losses. Investors are cautiously awaiting the Federal Reserve's final policy announcement of the year, following economic data indicating persistent consumer spending. While retail sales exceeded expectations in November, fueled by an increase in vehicle purchases, market focus remains on the Fed's potential actions. A 25 basis point interest rate cut is almost certain, but investors are closely watching the Fed's economic projections and Chair Jerome Powell's comments for clues on future rate cuts and the central bank's stance on inflation.

NEW YORK -U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid.

Of particular attention will be the Fed's summary of economic projections and comments from Chair Jerome Powell, which may indicate how aggressive the U.S. central bank will be in cutting rates in 2025. "Everyone knows we're getting 25 bps ... what Powell is going to say at the press conference, what the SEP is going to tell us, those things people are not quite sure of so you have a little bit of jitters ahead of that."While the Nasdaq hit a record high on Monday and the S&P 500 is up nearly 27% on the year, the Dow has struggled recently and suffered its ninth straight daily decline, its longest losing streak since February 1978.

The S&P 500 posted 11 new 52-week highs and 19 new lows, while the Nasdaq Composite recorded 81 new highs and 197 new lows.

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