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Dow, S&P 500 Fall for the Week; Nasdaq Rides Broadcom Wave

The Dow marked its seventh-straight daily loss

Deputy Editor
Dec 13, 2024 at 4:25 PM
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Stocks were a mixed bag Friday. The Dow logged its seventh consecutive daily loss and a weekly drop, while the S&P 500 snapped a three-week winning streak. Elsewhere, the Nasdaq finished the week higher, the only index to do so thanks to Broadcom (AVGO) crossing the $1 trillion market cap.

With inflation data in the rearview mirror, Wall Street turned its eyes towards the Federal Reserve's upcoming interest rate decision. According to the CME FedWatch tool, there's a 97% chance that the central bank will cut interest rates at its meeting next week.  

Continue reading for more on today's market, including:

  • Can Robinhood stock continue its ascent?
  • Inflation data was the talk of the town this week.
  • Plus, behind Broadcom's major milestone; UPST's bull note; and a red-hot tax tip.

closing summary dec13

nyse nasdaq dec13

5 Things to Know Today 

  1. Apple (AAPL) and Alphabet (GOOGL) urged to drop TikTok. (CNBC)
  2. Trump could bring back the SALT income-tax deduction. (MarketWatch)
  3. Broadcom surpassed $1 trillion today.
  4. Analyst note helped Upstart stock surged.
  5. Don't forget, 2024 tax time is coming up.

Earnings Dec13

UVOL Dec13

Oil Posts Biggest Weekly Gain in Three Weeks

Oil prices turned in a 5.7% weekly win, their largest weekly pop in three weeks despite a supply surplus forecast at the International Energy Agency (IEA). Black gold also climbed for the session, with February-dated West Texas Intermediate (WTI) crude adding 85 cents, or 1.6%, to settle at $71.11 per barrel.

Gold prices fell Friday, but turned in a win on the week as investors anticipated the Fed's interest rate cut next week. For the session, gold for December delivery lost 1.1% to settle at $2,678.50 an ounce, but popped 1% this week.

 
 

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