Sun and clouds mixed. High 56F. Winds light and variable..
Cloudy skies this evening. A few showers developing late. Low near 45F. Winds light and variable. Chance of rain 30%.
Updated: December 26, 2024 @ 5:19 am
FIL:E – People photograph the New York Stock Exchange in New York’s Financial District on Dec. 23, 2024.
FIL:E – The New York Stock Exchange is shown in New York’s Financial District on Dec. 23, 2024.
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between the U.S. dollar and the South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024.
Lights marking the entrance to a subway station frame the New York Stock Exchange in New York’s Financial District on Monday, Dec. 23, 2024.
A currency trader talks to another near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024.
FIL:E – People photograph the New York Stock Exchange in New York’s Financial District on Dec. 23, 2024.
FIL:E – The New York Stock Exchange is shown in New York’s Financial District on Dec. 23, 2024.
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between the U.S. dollar and the South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024.
Lights marking the entrance to a subway station frame the New York Stock Exchange in New York’s Financial District on Monday, Dec. 23, 2024.
A currency trader talks to another near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024.
U.S. markets are broadly lower before the opening bell in what’s expected to be thin holiday trading.
Futures for the S&P 500 and the Dow Jones Industrial Average slipped 0.4% in the early hours Thursday. Markets were closed Wednesday for the Christmas holiday.
The government’s weekly update on U.S. unemployment benefit applications will get some attention.
While it did little to boost Netflix’s stock, the streaming giant was the talk of Christmas with its broadcast of back-to-back NFL matchups on Christmas, highlighted by Beyoncé’s nearly 13-minute performance at halftime of the Houston Texans 31-2 loss to the Baltimore Ravens.
Unlike some of its other recent live events, Netflix’s broadcast went off glitch-free, becoming the second-most popular live title ever for streaming service, according to NFL Media.
U.S. markets have historically gotten a boost at year’s end, despite usually lower trading volumes. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950.
So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation, a bigger U.S. government debt and difficulties for global trade.
Even so, the U.S. market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up 26.6% so far this year and remains within roughly 1% of the all-time high it set earlier this month — its latest of 57 record highs this year.
Japan’s Nikkei 225 index surged 1.1% to 39,568.06, on strong gains in retailers and tourism-related stocks after Japan agreed to ease visa conditions for Chinese tourists.
Isetan Mitsukoshi Holdings, a major department store group, gained 7.7%. J. Front Retailing Co., owner of the Matsuzakaya and Daimaru department store groups, jumped 8.3%. Automakers also saw large gains.
China and Japan also agreed Wednesday to conduct talks on contentious security issues and other sources of friction during a visit by Japanese Foreign Minister Takeshi Iwaya to Beijing, where he met with Chinese Premier Li Qiang and Foreign Minister Wang Yi.
South Korea’s Kospi slipped 0.4% to 2,429.67, while the Taiex in Taiwan gained 0.1%.
The Shanghai Composite index edged 0.1% higher, to 3,398.08.
Thailand’s SET fell 0.1%.
Major European markets are closed Thursday, as well as Hong Kong, Australia, New Zealand and Indonesia.
U.S. benchmark crude oil rose 40 cents to $70.50 per barrel. Brent crude, the international standard, picked up 36 cents to $73.53 per barrel.
The dollar rose to 157.65 Japanese yen from 157.19 yen. The euro fell to $1.0398 from $1.0410.
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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