The Market Brief
Hey team. Stocks retreated globally on Tuesday as traders awaited the Federal Reserve’s final interest rate decision for 2024 and its monetary policy forecasts.
Let’s re-cap Monday’s session and see what’s next!
Impact Snapshot
🟥 Retail Sales - 8:30am
Macro Viewpoint
U.S. stock index futures edged lower on Tuesday as investors awaited retail sales data for insights into consumer health ahead of an expected Federal Reserve rate cut later this week.
The pullback followed a solid performance on Monday, where the Nasdaq closed at a record high and the S&P 500 posted gains.
As the year draws to a close, U.S. stocks are on track to significantly outperform global peers in 2024, driven by optimism around artificial intelligence and declining interest rates that have bolstered investor confidence.
While markets have largely priced in a 25-basis-point rate cut from the Fed on Wednesday, expectations suggest the central bank will keep rates steady at its January meeting, reflecting economic resilience and persistent inflation pressures.
