The Market Brief
Hey team. Markets began the week with mixed sentiment during Monday's early trading as we entered this holiday-shortened week leading up to Christmas.
Let’s recap last week’s events and see what’s next for the market!
Impact Snapshot
🟥 Consumer Confidence - 10:00am
Macro Viewpoint
U.S. futures remained steady as traders weighed prospects for economic growth and interest rates.
Markets posted strong gains on Friday after the core personal consumption expenditures price index rose at its slowest pace since May.
A potential government shutdown was narrowly avoided when Congress passed a last-minute funding bill early Saturday, just minutes after the deadline expired.
Investors are pausing after a wave of robust U.S. economic data prompted the Federal Reserve to scale back its projection for rate cuts in 2025.
Following a strong rally since the November presidential election, Wall Street encountered turbulence this month.
The Federal Reserve's revised forecast reduced the expected rate cuts for 2025 to just two 25-basis-point reductions, down from four projected in September, while also raising its annual inflation outlook, signalling a resilient U.S. economy.
Trading volumes are expected to thin, with U.S. stock markets set to close early on Tuesday and remain closed on Wednesday for Christmas.
