Today's Stock Market: Wall Street soars as markets maintain their upward trend

 Today's Stock Market: Wall Street soars as markets maintain their upward trend

On a calm Tuesday, Wall Street increased slightly as the market continues its seven-week winning run that will last till the end of 2024.

Tuesday saw Wall Street outperform moderate gains as the market maintains its seven-week winning run until the end of 2024.

Before the bell, Dow industrials and S&P 500 futures both saw 0.2% increases.

After the Federal Reserve said that inflation has decreased to the point that interest rates might be lowered in 2024, the larger market recovered last week and produced strong gains in December. Last week, the Dow finished at a new high and the S&P 500 moved closer to its all-time high while ending the week with its longest weekly victory in six years.

The Nasdaq has increased more than 42% this year, while the benchmark S&P 500 has gained more than 23%.

Financial markets are often relieved of strain when interest rates are low. In order to slow the economy and manage inflation, the Fed plans to lower investment prices starting in 2022 by raising interest rates. The economy is growing more slowly, but it has not entered a recession, and inflation is still falling.

Wall Street is placing bets that the Fed will hike rates and may even begin lowering them as early as 2024 as a result of those circumstances. When the government issues its data on personal consumption spending on Friday, investors will get their last significant inflation update of the year. This is the favored inflation indicator used by the Fed, and it has been falling since the middle of 2022.

According to a FactSet survey of analysts, the inflation rate will drop from 3% in October to 2.8% in November.

This week, investors will also be reviewing a number of significant earnings reports that should provide them with more insight into how businesses and consumers are doing in the face of rising interest rates and persistent inflation. General Mills, the company that makes Cheerios, will release its latest financial results on Wednesday, while package transportation firm FedEx will do so after the bell on Tuesday. Nike, a behemoth in athletic footwear, released its most recent earnings on Thursday.

US Steel had a little decline just before the opening bell on Tuesday, after a 26% surge on Monday due to reports that Nippon Steel was selling itself.

Standing on the roof of his Braddock, Pennsylvania house with Edgar Thomson Steel Works, the headquarters of U.S. Steel, in the background, U.S. Senator John Fetterman said he would try to stop the sale on the basis of national security concerns.

"Steele is always about safety, too, and I'm committed to doing everything I can, using my position and platform to stop this," Fetterman said in a late-Monday post on X. "

In other parts of Europe, the London FTSE 100 remained relatively stable while Germany's DAX increased by 0.5% at lunchtime. The CAC 40 increased 0.1% in Paris.

Nikkei 225 in Tokyo increased 1.4% to 33,219.39 after the Bank of Japan's predicted continuation of its ultra-loose monetary policy. The dollar gained ground against the yen, moving from 142.79 to 144.59.

While South Korea's Kospi increased by 0.1% to 2,568.55, Sydney's S&P/ASX 200 saw an increase of 0.8% to 7,489.10.

Hong Kong's Hang Seng index plummeted 1% to 16,469.32 while the Shanghai Composite index increased less than 0.1% to 2,932.39.

Taiwan's Taiex declined 0.4%, while Bangkok's SET increased by 0.1%.

The yield on the 10-year Treasury dropped from 3.95% late Monday to 3.90% early Tuesday.

In electronic trading on the New York Mercantile Exchange, the benchmark U.S. crude oil price dropped 25 cents to $72.57 a barrel. The global standard, Brent crude, dropped 26 cents to $77.69 per barrel.

Late on Monday, the euro increased to $1.0972 from $1.0925.

On Monday, the Nasdaq Composite gained 0.6% and the S&P 500 gained 0.5%. By late afternoon, the Dow Jones Industrial Average had lost much of its 0.2% gain, and it closed almost flat.

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