MARKET WRAP

The S&P 500 and Nasdaq Composite rose today, with the tech-heavy index reaching a record high as investors awaited a key Federal Reserve meeting. Major tech companies like Apple, Alphabet, Tesla, and Broadcom rallied to all-time highs. At the same time, Nvidia experienced a pullback of nearly 2% and fell into a correction, down more than 10% from its recent high. The market's upward movement came as the Federal Reserve prepared for a two-day policy meeting, with expectations of another quarter-point cut to the benchmark overnight lending rate. According to CNBC, Investors are mainly focused on the Fed's forward guidance regarding future policy moves, especially given recent economic indicators showing stabilized unemployment but slightly increased inflation since the first rate cut in September. The stock market's performance followed a sluggish previous week, with the Dow and S&P 500 experiencing declines while the Nasdaq managed a slight gain.

MRKT MATRIX: December 16, 2024

Today’s Top Stories:

• S&P 500 rises ahead of Fed meeting, Nasdaq gains 1% to record led by Broadcom (CNBC)

• The Fed’s Game Plan on Interest-Rate Cuts Keeps Shifting (WSJ)

• Ed Yardeni thinks the Fed shouldn’t cut this week because it risks a market bubble (CNBC)

• Wall Street Eyes 2025 Volatility Spikes on Trump Tariffs, Geopolitics (Bloomberg)

• China Will Keep Trying to Spur Consumption Without Big Stimulus (Bloomberg)

• Alphabet and 9 More Stocks to Buy for 2025 (Barron’s)

• MicroStrategy shares jump as bitcoin proxy will join Nasdaq-100 index and ‘QQQ’ ETF (CNBC)

• Trump, SoftBank CEO to Announce $100 Billion Investment in U.S. (WSJ)

• TikTok Asks US Supreme Court to Block Government Ban (Bloomberg)

Today’s MRKT Call is Presented by MoneyLion

Fateful 8 = New Mag 7: Nvidia, Broadcom, Microsoft & Google Stocks In Focus

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Today’s On The Tape is Presented by CME Group, iConnections and SoFi

Move Over Mag7: Introducing the Fateful 8

Danny Moses and Liz Thomas join Dan Nathan to break down the latest developments in financial markets. Key topics included the Federal Reserve's upcoming meeting, recent earnings, and market expectations. The gang highlighted China's expected stimulus, the impact of rising yields, and the potential for volatility in equities. The team also examined the performance of sectors like healthcare and energy, the challenges faced by small businesses, and notable earnings reports from Nike, FedEx, and Lennar.

After the break: Ron Biscardi, CEO, and Kaitlin Malin, COO of iConnections, join 'On the Tape' to discuss their recent conference in Singapore, where attendance doubled from the previous year with 230 fund managers and a similar number of allocators holding over 3,000 meetings. They dive into iConnections' evolution from a tech company to the world's largest cap intro platform during the pandemic, emphasizing their tech-driven solutions like the roadshow module and investor portal. Upcoming events in Miami and potential expansions into Europe and Africa are mentioned. The conversation also covers the partnerships and success stories from attendees, with notable figures like Howard Marks and Steve Cohen participating in their events.

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