Stock Market Update Friday December 6, 2024

Stock Market Update Friday December 6, 2024 S&P 500 and Nasdaq set new records after a jobs report slightly exceeded expectations, with the S&P 500 rising nearly 1% for the week.

Away From Stocks: A five-basis point drop in two-year yields to 4.1% headlined a low-wattage session, WTI crude slipped to $67 a barrel, gold traded flat at $2,631 per ounce, bitcoin flipped back above $101,000 and the VIX retreated below 13.

Market Outlook and Key Macro Events:

The upcoming week brings a pivotal series of macroeconomic events that could significantly influence market sentiment and trajectory.

• 12/11 November CPI Report: Inflation data could surprise to the upside, with a potentially "hotter" print than consensus forecasts. A stronger-than-expected CPI could intensify rate-related anxieties and reshape near-term market expectations.

• 12/18 December FOMC Meeting: As policymakers convene for their final meeting of the year, markets will closely parse the Fed’s tone and guidance for 2024. Any deviations from anticipated dovishness could add volatility to the markets.

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