You are currently viewing Weekly Market Recap (December 4th– December 8th)

Weekly Market Recap (December 4th– December 8th)

Weekly Market Recap (December 4th– December 8th)

Market open (Monday, December 4th)- 

Dow Jones- 36,145.64

S&P 500- 4,563.47

NASDAQ- 14,153.33

Market Close (Friday, December 8th)-

Dow Jones- 36,257.73

S&P 500- 4,604.03

NASDAQ- 14,402.66

The S&P 500 experienced a slight decline on Monday, dropping by 0.5%. However, it appears to have rebounded to the closing level of Friday, December 1st, at 4,594.63. The NASDAQ is exhibiting significant growth this week, rebounding from an early-week decrease of around 0.08%. It is currently up by 0.33% from yesterday’s closing at 14,399. The Dow Jones has risen by 0.27% from Thursday’s closing.

A notable event last week was the release of the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This monthly report provides insights into job vacancies, separations, and the number of workers voluntarily quitting employment from the previous month. The report showcased robust hiring growth, with the addition of 199,000 jobs. Additionally, the unemployment rate dropped to 3.7%. For investors, these indicators suggest that the market is in a stable position. If the unemployment rate continues to stay at this rate, we may be approaching the safe landing that everyone desires.

It is highly recommended to keep an eye on news related to the Federal Open Market Committee (FOMC), as they are conducting their final meeting of the 2023 calendar year. This meeting, scheduled for December 12th to 13th, will determine the economic projections for early 2024. Bull investors are hopeful for a decline in interest rates around March. However, according to statistics published by CME Group, traders believe there is a 47.5% chance that the Fed will make such a move.

 

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