Here are the most important news items that investors need to start their trading day:
1. Holiday cheer
Stocks keep chugging along. The three main indices closed higher again Monday, as the year’s rally moves toward a triumphant close. The broad-based S&P 500 is up 3.8% for December, fresh off its longest weekly winning streak in six years, while the blue chip Dow is up nearly 4%, and the tech-heavy Nasdaq is up almost 5%. The bulls are still grooving to the Federal Reserve’s indication last week that 2024 could bring three rate cuts after the central bank’s extended campaign against inflation. On Tuesday, investors will be watching for data on building permits and housing starts, while Atlanta Fed Governor Raphael Bostic is set to speak. Follow live market updates.
2. Sea change
The Ebba Maersk container ship, operated by A.P. Moeller-Maersk A/S, leaves Suez port and heads towards the Red Sea after passing through the Suez Canal in Suez, Egypt on Saturday, April 6, 2013.
Kristian Helgesen | Bloomberg | Getty Images
The U.S. military has had enough. Early Tuesday, Defense Secretary Lloyd Austin announced that the United States, along with several other nations, would band together to protect commercial ships that have come under fire in the Red Sea from Iranian-backed Houthi militants. The Houthis, in solidarity with the Palestinian group Hamas, have struck more than a dozen vessels since the war in Gaza started in early October. The attacks have forced major shipping and oil companies to redirect their traffic, disrupting the global supply chain.
3. Watch out
Apple watches are seen on display at the Apple Store in Grand Central Station on December 18, 2023 in New York City.
Michael M. Santiago | Getty Images
Apple is putting the freeze on sales of a couple of its Watches, just days before Christmas. Due to an intellectual property disagreement, the tech giant will halt online sales of the Apple Watch Series 9 and Apple Watch Ultra 2 on Thursday afternoon and in-store…
Read the full article here