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Seeking Alpha 2024-12-30 18:12:40

Nasdaq, S&P, and Dow sink alongside Treasury yields as 2025 approaches

Traders and investors on Wall Street have observed a noticeable downward shift in the financial markets on Monday as the financial community gears up for the last few trading sessions of the 2024 year. As the trading day progresses, investors have seen a sinking move in the blue-chip Dow ( DJI ) as the index has fallen 0.6% . At the same time, the benchmark S&P 500 ( SP500 ) has declined by 0.6% , and the tech-focused Nasdaq Composite ( COMP:IND ) is in the red by 0.6% . From a sector-by-sector point of view, 10 of the 11 S&P sectors find themselves moving lower with Consumer Discretionary and Materials suffering the most. In reverse, the best performing area on Wall Street so far has been the Energy segment as oil ( CL1:COM ) has moved up 1.4% to $71.54/bbl. U.S. Treasury yields have slid lower to start the week with the shorter end more rate sensitive U.S. 2-Year Treasury yield ( US2Y ) down by 7 basis points to 4.26% and the longer end U.S. 10-Year Treasury yield ( US10Y ) down by 7 basis points to 4.55%. For more, see how Treasury yields have traded across the entire curve on the Seeking Alpha bond page . The economic calendar is on the lighter side on Monday, the Chicago PMI fell to 36.9 in December from 40.2 in November, missing the 42.7 consensus, according to data from the Institute for Supply Management. Also, the November pending home sales jumped 2.2%, beating market expectations. The Dallas Fed Manufacturing Survey popped in December to +3.4 compared to the -2.7 prior figure. As for stocks that are on the move, shares of MicroStrategy ( MSTR ) are lower by more than 5% after the firm disclosed that it had acquired another 2,138 bitcoins ( BTC-USD ). The U.S. markets will be closed on January 1, Wednesday, on account of New Year's Day. Furthermore, the New York Stock Exchange will be close on Jan. 9 in observance of a National Day of Mourning in honor of former President Jimmy Carter. More on markets Top 10 dividend stocks with a 2% yield and Buy or Strong Buy rating 6 Big Market Predictions For 2025 If You Liked The 1990s Dotcom Bull Market, Then You Will Love The Next Few Years: A Revisit One-Year Later Markets Weekly Outlook - PMI Data And Increased Liquidity To Drive Markets South Korea to inspect Boeing 737-800s after deadly crash