Image Souce: Krish Capital Pty Ltd
Index Update
On Monday, the S&P 500, Nasdaq, and Dow Jones all declined, with Nvidia falling 2.6% following a Chinese anti-monopoly investigation. Other tech stocks, including Palantir, MicroStrategy, AMD, Applovin, and Coinbase, also dropped. In after-hours trading, Oracle plunged over 7% after disappointing results. Investors are focused on Wednesday's inflation report, which could impact expectations for Federal Reserve rate cuts.
Market Movers
On Monday, the top gainers were Metagenomi, Inc (+30.27%), followed by Quantum Corporation (+20.22%). On the contrary, BioAge Labs, Inc (-71.43%) and Revance Therapeutics, Inc. (-20.68%) declined the most the same day.
Commodities Update
Brent crude oil futures eased to $71.8 per barrel as concerns over the collapse of the Syrian government eased, while market support came from China's commitment to increased fiscal stimulus. Declines were limited as traders awaited U.S. inflation data, which could provide insights into the Federal Reserve's next policy decision.
Macro Update
The NFIB Small Business Optimism Index in the US surged to 101.7 in November 2024, the highest since June 2021, driven by optimism following the presidential election. This marked the first time in 34 months the index exceeded the 50-year average. Small business owners are hopeful for favorable tax and regulation policies, relief from inflation, and expansion opportunities, with expectations for economic improvement reaching their highest level since June 2020.
Futures Update
US stock futures were flat on Tuesday after the S&P 500 and Nasdaq Composite retreated from record highs, impacted by a significant drop in Nvidia.
Bitcoin traded at $97,710 on Tuesday, December 10th, up 0.24% from the previous session. Over the past four weeks, it gained 10.44%, and over the last 12 months, its price increased by 137.69%.

After a slow start to the session, stocks mostly declined throughout the trading day on Monday. The major indices moved lower, with both the Nasdaq and the S&P 500 pulling back from last Friday's record closing highs. By the end of the day, all major averages finished in negative territory. Specifically, the Dow fell by 240.59 points, or 0.5 percent, closing at 44,401.93; the Nasdaq decreased by 123.08 points, or 0.6 percent, to 19,736.69; and the S&P 500 dropped by 37.44 points, or 0.61 percent, ending at 6,052.84. From a technical standpoint, the S&P 500 is currently moving within a rising channel, which may indicate further potential gains. The 14-period Relative Strength Index (RSI) remains in positive territory. Key levels to watch include resistance at 6,100 and support at 5,944.






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