The Market Brief
Hey team. US equity futures experienced a sharp decline overnight as the strong rally in technology stocks shows signs of losing momentum in the final trading sessions of 2024
Let’s see what’s next!
Macro Viewpoint
Global stocks dipped amid light trading typical of the holiday season, as a robust rally in technology shares showed signs of slowing during the final sessions of 2024.
US equity futures pointed to a softer open on Wall Street, following Friday's decline driven by a pullback in major tech stocks.
The benchmark index posted modest gains last week, with analysts attributing the performance to a strong rally earlier this year that significantly boosted valuations. The index has remained in a bull market for over two years and is on track to close its second straight year with gains exceeding 20%.
Later this week, investors will turn their attention to the Institute of Supply Management's December manufacturing survey and the latest weekly jobless claims report, both ahead of a critical employment report due the following week.
