Wall Street’s Main Indexes Muted on Holiday-Shortened Week
Wall Street’s main indexes were muted at the start of a holiday-shortened week on Monday (Dec 23), as a stopgap government funding bill averted a partial shutdown and investors contended with a slower pace of rate cuts from the US central bank next year.
Main Indexes at the Start of the Week
The Dow Jones Industrial Average fell 39.8 points, or 0.09 per cent, at the open to 42,800.49. The S&P 500 rose 9.4 points, or 0.16 per cent, at the open to 5,940.25, while the Nasdaq Composite rose 68.5 points, or 0.35 per cent, to 19,641.05 at the opening bell. REUTERS
No Major Surprises Expected from the US Central Bank
The news of a slower pace of rate cuts from the US central bank has led to a cautious approach from investors, resulting in a muted start to the week for Wall Street’s main indexes.
Conclusion
The stopgap government funding bill and the expectations of a slower pace of rate cuts from the US central bank have led to a quiet start to the week for Wall Street’s main indexes. Investors will be closely monitoring the situation and waiting for any significant developments before making any major moves.
Frequently Asked Questions
Q: What is the current state of the Wall Street’s main indexes?
The Dow Jones Industrial Average has fallen 39.8 points, or 0.09 per cent, at the open to 42,800.49. The S&P 500 has risen 9.4 points, or 0.16 per cent, at the open to 5,940.25, while the Nasdaq Composite has risen 68.5 points, or 0.35 per cent, to 19,641.05 at the opening bell.
Q: Why is the US central bank expected to slow down rate cuts?
The US central bank is expected to slow down rate cuts due to concerns over inflation and the strong economy.
Q: How will investors respond to this news?
Investors will likely take a cautious approach, waiting for any significant developments before making any major moves.
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