Here are the most important news items investors need to start their trading day:
1. Green Christmas
In New York, US President-elect Donald Trump is scheduled to ring the opening bell of the New York Stock Exchange (NYSE) and celebrate being named Time magazine’s Person of the Year. ) A Christmas tree stands in front of it. New York City, USA, December 12, 2024.
Adam Gray | Reuters
Investors are hoping stocks can finish the holiday-shortened week strong. All three major U.S. stock averages rose this week, although trading was sparse. of S&P500 It rose by 1.8%. Dow Jones Industrial Average It has increased by 1.1%. Nasdaq Composite It rose by 2.3%. This follows strong performance for tech stock indexes throughout the month. The Nasdaq is up 4.2% so far in December, while the S&P is up 0.1% and the Dow is down 3.5%. Follow live market updates.
2. Determination towards decision
A United Steelworkers sign is seen outside the Great Lakes Steelworks United States steel plant in River Rouge, Michigan, USA, on September 16, 2024.
Rebecca Cook | Reuters
Nippon Steel announced it would postpone the completion date of its $14.9 billion acquisition of U.S. Steel while President Joe Biden decides whether to approve the deal. The Japanese company has changed the completion date of the acquisition to the first quarter of 2025 from its previous target of the third or fourth quarter of this year. The commission that oversees foreign takeovers in the United States on Monday referred a decision on whether to block the deal to President Joe Biden, giving him 15 days to decide. Biden, the United Steelworkers union and some politicians have expressed concerns about the company’s foreign ownership.
3. Holiday balance
Holiday shopping can have long-term effects on many consumers. According to a survey by LendingTree, 36% of Americans took on debt this holiday season. The average balance for these people was $1,181, up from $1,028 in 2023. One way to gradually reduce your holiday debt is to start paying off your debt early and renegotiate your interest rate.
4. A turbulent year for airlines
Airlines started the year with door panels blown off. boeing inside the plane alaska airlines flight. From then on, the momentum of the headlines never slowed down. of jet blue-Spirit merger blocked, Spirit files for bankruptcy protection, technology meltdown impacts travel days. Meanwhile, airlines were fighting to prove they were the most premium airlines. Read more about 2024, an eventful year for airlines.
5. Add up
Advertisement executives expect the market to be stable next year, especially for companies that have coveted live sports rights. The global advertising industry, excluding U.S. political advertising, is expected to grow 7.7% in 2025, with revenues exceeding $1 trillion for the first time, according to a recent report from GroupM, WPP’s media investment group. Still, advertisers are still being selective with their budgets and may prioritize live events like sports and award shows.
– CNBC’s Pia Singh, Lorie Konish, Leslie Josephs and Lillian Rizzo contributed to this report.
