Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
21:45
Trading on Wall Street is conducted by the hour with falling rates. The Nasdaq is down 0.7%, the S&P 500 and Dow Jones are down a similar amount.
Super Micro Computer is trading lower after it was reported that it has terminated its financing agreement with the Taiwanese branch of HSBC Bank. In the last six months, the company’s stock has lost its value by about 61%.
20:52
The energy share IQT jumps by more than 5% following the increase in natural gas prices. Natural gas futures have risen by about 60% in the past year, the sharpest increase since 2016.
Oil prices are rising slightly at this time. The price of a barrel of Brent trades around 74.1 dollars and the price of a barrel of WTI stands at 71.06 dollars.
20:12
The declines on Wall Street continue to moderate. The Nasdaq is down 0.7%, the S&P 500 is off 0.6% and the Dow Jones is down a similar amount.
In the US debt market, government bond yields are falling at this time. The 10-year yield is down 6 basis points and is trading around 4.55% and the two-year yield is down to 4.25%.
19:01
The declines on Wall Street moderate slightly. The Nasdaq is down 1.2%, the S&P 500 is off 1% and the Dow Jones is down 0.9%.
The price of Bitcoin continues to plunge and now stands at about $91,000 and is now at a one-month low after breaking records in recent weeks. Among the factors that influenced the surge in the currency was the expectation of sharp interest rate cuts by the Federal Reserve. Another significant factor in the dramatic rally in Bitcoin is the expectation that the Trump administration will be more sympathetic towards the decentralized currency market, and regulation will be more favorable. However, it seems that the market is waiting for Trump to officially take office at the end of January, so it will become clear if the new president will keep his word regarding regulatory easing in the market.
Meanwhile, a share micro-strategy which holds approximately 402,000 bitcoin coins worth approximately $23.4 billion, and allows investment in the currency without purchasing them directly, is plummeting at this time and is also affected by the recent decline in the value of bitcoin.
18:30
European stock markets closed with falling rates. Dax fell 0.6%, the Putsy shed 0.4% and the French Cac shed 0.6%.
16:52
It seems that there is no particular reason for the negative trend on Wall Street other than the realization of investors’ profits towards the end of the year. The Nasdaq index is currently down 1.5%, the S&P 500 is down 1.4% and the Dow Jones is down 1.5%.
Company stock Boeing Sinking by about 5% after last night (Sun), early in the morning, a Jeju Air Boeing 737-800 plane crashed during landing at Moen International Airport in South Korea. The flight arrived from Bangkok with 181 passengers and the crash led to the deaths of at least 167, with two survivors found so far – crew members who were in the rear of the plane. In Korea they demanded to check the regulations of the model of the plane that crashed.
16:32
The trading day on Wall Street opened with a red trend. The Nasdaq is down 1.6%, the S&P 500 is off 1.3% and the Dow Jones is down 1.2%.
15:13
Israeli women on Wall Street:
The fintech company Nikes announced the retirement of the OTI fuel management system in the 14 distribution centers of the British retailer Tesco in England. According to Nikes, its system makes fuel fleet operations efficient and economical and ensures accurate tracking of fuel consumption. Nikes purchased the Israeli OTI several years ago for $4.5 million, after OTI ran into difficulties.
you discovered announced today the receipt of orders totaling over 18 million dollars for the solutions it provides for in-flight connectivity (IFC). Orders will be delivered within the next 12 months. According to the company’s announcement, its solutions enable reliable satellite connectivity that supports the rapid expansion of internet networks in airplanes.
15:05
Wall Street futures are now trading lower – Nasdaq down 1%, S&P 500 down 0.9% and Dow Jones down 0.7%. Nevertheless, the indexes are on track to end the fourth quarter with a profit, with the Nasdaq index expected to show the His longest streak of winning quarters since 2021.
14:25
A mixed trend in the European stock markets, on the last trading day of 2024. The Dax and FTSE indices fall by about 0.1%, and the French CAC index adds 0.3%.
Tomorrow (Tuesday) there will be no trading on several European stock exchanges, including the stock exchange in Germany, Switzerland and Denmark. In the UK and France there will be a shortened trade.
Early in the morning a plane crashed Boeing A Jeju Air 737-800 during landing at Moen International Airport in South Korea. The flight arrived from Bangkok with 181 passengers and the crash led to the deaths of at least 167, with two survivors found so far – crew members who were in the rear of the plane.
Today, the shares of the aircraft manufacturer fall by about 4% in early trading on Wall Street, after a demand from Korea to check the regulations of the model of the plane that crashed.
10:32
Trading in Europe opened this morning with slight decreases of about 0.4% in all the leading indices – DAX, CAC and POTSI.
Trading in Asia closed in a mixed trend – Shanghai rose by 0.3%, Hang Seng fell by 0.3%, Nikkei by 0.9%.
09:38
Shares of Jeju Air are falling 9% in Korea to the lowest level in history following yesterday’s plane crash that killed 181 people. Shares of other airlines fall on the Seoul Stock Exchange. Korean Air is down 2.5%, and Jin Air is down 4%.
08:47
Trading in Asia opened this morning with a negative trend – the Nikkei falls by 0.8%, the Shanghai by 0.5%, and the Hang Seng by 0.15%, Kospi rises by 0.3%. In summing up the years, Taiwan’s stock market jumped the most this year in Asia, 28%, while South Korea’s fell the most, 8%. Analysts predict that what will determine the direction of the markets in 2025 will be the tariff policy of the incoming US president and the Chinese economy.
The futures contracts on Wall Street are trading this morning with decreases of up to 0.2% in the leading indices.
Another abbreviated trading week will open in New York this afternoon. There will be no trading on New Year’s Eve in the USA.
Last Friday, the technology stocks clouded the trade, which closed in declines. But despite this, the trading week ended with gains. The S&P 500 increased last week by 0.7%, the Nasdaq by 0.8% and the Dow Jones by 0.4%.
There are two days left until the end of the year and Wall Street is already summing up a great year, since the beginning of the year – the S&P 500 increased by 25.2%, the Nasdaq jumped by 32%, and the Dow Jones added 14.1%.
Now everyone is dealing with predictions and most of them are optimistic.
Goldman Sachs equity analyst David Kostin expects the S&P 500 to reach 6,500 by the end of 2025, about 9% higher than Friday’s close. “It has less to do with valuation and more to do with earnings growth that will dictate returns,” Kostin said during a roundtable held by Goldman Sachs for 2025. Bank of America shares a similar opinion. The bank’s analyst team published a target of 6,666 by the end of 2025, an increase of 11.5%.
History is also on the side of the optimists: on average, bull markets last more than five years. The current rally started in October 2022 and now we are entering the third year. At Monty Paul we examined the last 50 years and found that in 73% of the years after two consecutive increases of more than 20% in the index, the index increased by an average of 12%.
But according to Wall Street’s most experienced investor, there are warning signs: Based on Warren Buffett’s actions over the past two years, he appears to fear what’s to come on Wall Street. Berkshire Hathaway Under his management, it sold far more shares than it bought for eight consecutive quarters (from October 2022 to September 2024). In total, this is a net sale of $166 billion worth of shares over two years, bringing Berkshire Hathaway’s cash balance to more than $325 billion, the most in 30 years.
And another warning sign. In 2001, in an interview with Fortune, Warren Buffet coined the term “Buffett Indicator”, which according to him is the most accurate indicator of the state of the market at any given moment. This index has soared in recent days to an all-time high.
Buffett’s index divides the market value of all stocks traded in the US by the country’s gross product. When the index is at 70%, it means that the shares are at a bargain price, when it is at 100%, the pricing is fair, at 200%, “Investors are playing with fire “. On average, the index stands at 85%, in October 2024, the index crossed the 200% mark for the first time, and now, according to The Monty Paul site, it stands at 209%, an all-time high.
The index does not indicate the dates of declines, but for comparison, the Buffett index reached 144% before the bursting of the dot-com bubble, 107% before the 2008 crisis, 166% before the corona epidemic, and 195% before the declines in 2022. The declines were 49%, 57%, 34% and 28% respectively in the S&P 500 index from the peak set in those days to the bottom.
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In the US debt market, yields continued to climb during the last week along the entire curve, when the 10-year yield rose by 10 basis points to 4.62%, the highest level in almost 7 months. By the way, for the first time in history, we are witnessing a relatively rare trend In the bond market, since the start of the Fed’s interest rate reduction process in the current cycle (09/18), the 10-year yield has completed an increase of almost 100 PS while the Fed interest rate decreased by 100 PS.
Modi Shafferer, chief financial markets strategist at Bank Hapoalim, claims that the unusual phenomenon comes in light of the prevailing uncertainty: “The market fears that the economic policy that Trump will pursue will lead to more sticky inflation, and hence higher interest rates over time. In addition, the market fears the increase in American debt – a fact which led to an increase in the American bond yield.” According to Shaffer, a similar thing happened in 2016 when Trump won for the first time in the presidency.
Oil prices are trading stable this morning, $70 per barrel of American oil and $74 per barrel of Brent oil.
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In the crypto market, the price of Bitcoin traded this morning down about 2%, $93,300, a 13% drop since the record it broke about two weeks ago, when it traded around $107,000 per coin.
In the US, the Case Shiller house price index for the month of October and the number of weekly job seekers will be published.
Modi Shafferer of the Workers refers to the Fed’s future interest rate outline and points out that the increase in the inflation forecast by the Fed members, and the sharp increase in the number of Fed members who fear upward surprises in inflation in the coming year, were mainly due to the upward surprises in the September and October indices, and fears of the tariff increase by the Trump administration. The bottom line is: “The fact that the Fed has sharply raised the core forecast The PCE index (private consumption index) for 2025, combined with a forecast for a very moderate increase in the unemployment rate at the end of next year, actually increase the chances of ‘Ionian’ surprises in the coming year.”