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Morning Brief - Global Markets

December 27, 2024

Here's your update on global markets, curated by Trading Central expert analysts!

Market Wrap

Market Wrap: Stocks, Bonds, Commodities

On Thursday (December 26), U.S. stocks were little changed at close after gaining 1% in the prior session (December 24). The Dow Jones Industrial Average edged up 28 points (+0.07%) to 43,325, posting a 5-session rebound.

The S&P 500 dipped 2 points (-0.04%) to 6,037, and the Nasdaq 100 was down 29 points (-0.13%) to 21,768.

Meanwhile, the U.S. 10-year Treasury yield ran up to 4.641%, a seven-month high, before closing at 4.585%.

Apple (AAPL) continued its record-breaking streak, adding 0.32% to a record close of 259.02 dollars.

Tesla (TSLA) retreated 1.76%.

Bitcoin-related stocks closed markedly lower as the biggest cryptocurrency slid over 3%, with Microstrategy (MSTR) falling 4.78%, and Mara Holdings (MARA) down 4.22%.

Regarding U.S. economic data, the latest number of initial jobless claims declined slightly to 219,000 (vs 223,000 expected).

European markets were closed on Thursday for the Boxing Day holiday.

U.S. WTI crude-oil futures settled 45 cents lower at 69.67 dollars a barrel.

Gold price gained 16 dollars to 2,633 dollars an ounce.

Market Wrap: Forex

The U.S. dollar index managed to hold the level of 108.

EUR/USD gained 20 pips to 1.0421.

USD/JPY rose 75 pips to 157.99, the highest level in five months.

GBP/USD eased 9 pips to 1.2526.

AUD/USD fell 21 pips to 0.6220.

USD/CHF dipped 14 pips to 0.8988.

USD/CAD climbed 46 pips to 1.4407.

Bitcoin failed to regain the key level of 100,000 dollars before sliding over 3% to 95,700 dollars.

Morning Trading

In Asian trading hours, USD/JPY softened to 157.50. This morning, Japan's data showed that the jobless rate was stable at 2.5% in November (as expected), retail sales grew 1.8% month on month (vs +0.3% expected, +0.1% in October), while industrial production declined 2.3% month on month (vs -0.5% expected, +2.8% in October).

Tokyo's core inflation accelerated to 2.4% year on year in December (vs 2.3% expected, 2.2% in November).

EUR/USD dropped to 1.0408, and GBP/USD fell further to 1.2519.

AUD/USD edged down to 0.6217.

Gold price softened to 2,629 dollars an ounce.

Bitcoin rebounded, breaking above the level of 96,000 dollars.

Expected Today

U.S. Energy Department is expected to report a reduction of 2 million barrels in crude-oil stockpiles.

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