5 things to know before the stock market opens Thursday – CNBC

December 16, 2021 by No Comments

Here are the most important news, trends and analysis that investors need to start their trading day:

1. S&P 500 set for record at open in a relief rally after Fed’s tightening decision

Traders work on the floor of the New York Stock Exchange in New York.

Michael Nagle/Bloomberg via Getty Images

Dow futures rose more than 200 points Thursday, pointing to a continued surge as investors seemed satisfied with the Federal Reserve’s plan to accelerate its bond-buying taper and projections for three interest rate hikes next year.

  • The 30-stock average, the S&P 500 and the Nasdaq were lower before the Fed’s decision Wednesday afternoon following its two-day December meeting.
  • The S&P 500 finished 1.6% higher, just a couple of points away from last week’s record close.
  • The Dow and Nasdaq rose 1% and more than 2%, respectively, ending the day nearly 1.4% and 3% away from last month’s record closes.
  • While the Nasdaq was the big winner Wednesday, the index has been hardest hit recently along with tech stocks.

2. Trio of economic reports hit before the bell, including jobless claims

Following this week’s hot inflation figures and weaker retail sales growth, the government said Thursday that filings for initial jobless claims rose to a higher-than-expected 206,000 for the week ended Dec. 11. New claims for the prior week were revised slightly higher to 188,000, still the lowest tally in about five decades. Also Thursday morning, the government said November housing starts surged, while the Philadelphia Fed saw its December business conditions index plummet.

Source: https://www.cnbc.com/2021/12/16/5-things-to-know-before-the-stock-market-opens-thursday-dec-16.html

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