A minute after trading took off on the New York stock exchange, the Nasdaq index has fallen 0.9 percent and stands at 14,884.20 points, while the Dow Jones falls 0.4 percent to 37,539.72 points. The S&P 500 fell 0.6 percent to 4,741.60 points.
The ten-year US government bond yield is at 3.96 per cent, while the VIX index, also called the fear index, rises 11.7 per cent to 13.91.
Tesla reported 485,000 deliveries for the fourth quarter, bringing the total for 2023 up to 1.8 million, according to CNBC. The share rose 0.3 percent in the opening minutes.
Technology boost in 2023
The technology-heavy Nasdaq index rose a full 43 percent during 2023. Last year’s rise was largely driven by a handful of giant companies, including Nvidia, Microsoft, Apple, Meta, Alphabet, Tesla and Amazon – also known as “The Magnificent Seven”.
“Towards the end of the year, after the Federal Reserve signaled that the interest rate peak had probably been reached, the smaller companies gradually began to take a more prominent role”, writes Roger Berntsen in a report from Nordnet.
Macro
DNB Markets describes the US labor market figures released on Friday as the highlight of the week. The economists will also pay close attention to the minutes from the Fed’s December meeting, which will be published on Wednesday evening.
“This interest rate meeting marked the long-awaited turnaround from the American central bank, the so-called “Fed pivot”. Since then, market expectations for interest rate cuts from the Fed have reached a new level, and the details from the discussions at the interest rate meeting should be looked at for hints about exactly what trade-offs the members made”, writes DNB Markets in an update.
2024-01-02 14:32:43
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