US stocks ended the Christmas week on Friday (27/12/24) in negative territory, falling alongside the US Dollar to lower levels, giving in to profit-taking in a slowing & illiquid market ahead of the last weekend of the year.
The dollar index was last up 0.02% at 108.13. It is holding just below a two-year high of 108.54 reached on Friday.
The Dow Jones Industrial Average erased earlier losses and squeezed out a small gain in thin trading Thursday after the market’s strong back-to-back gains at the start of the holiday week.
The greenback is on track for its fourth gain in five sessions, during which it has gained 1.2%. The dollar index, which measures the U.S. currency against six of its largest peers, resumed its upward trajectory.
Stocks rose on Monday to start a holiday-shortened trading week as the continuous strength in technology names helped the broader market. The S&P 500 gained 0.73% to 5,974.07.
Asia-Pacific stocks and currencies fell Thursday, amid a broader market sell-off after the U.S. Federal Reserve delivered its third consecutive rate reduction and signaled fewer rate cuts ahead.
The Dow Jones Industrial Average bounced on Friday to close out a tough week that saw the index plunge 1,100 points in a single day and complete its longest losing streak since the 1970s. Some cooler-than-expected inflation data helped fuel the session’s rebound.
Asia-Pacific stocks and currencies fell Thursday, amid a broader market sell-off after the U.S. Federal Reserve delivered its third consecutive rate reduction and signaled fewer rate cuts ahead.
The Dow Jones Industrial Average narrowly snapped its longest losing streak since 1974 on Thursday. The 30-stock Dow added 15.37 points, or 0.04% to close at 42,342.24. The S&P 500 slid 0.09% to 5,867.08, while the Nasdaq Composite fell 0.10% to 19,372.77.
