4E: The rising expectations of suspending interest rate cuts next year have hit U.S. stocks. Pay attention to the Federal Reserve’s interest rate meeting this week.
Editor
2024-12-16 11:32 9,454
According to news on December 16, according to 4E monitoring, last week the S&P 500 stopped rising for three consecutive weeks and fell 0.64% for the whole week; the Dow Jones Industrial Average fell 1.82% for the whole week and has fallen for seven consecutive trading days; the Nasdaq Composite Index rose 0.34% for the whole week. It exceeded 20,000 points for the first time in history.
Bitcoin regained $100,000 last week, setting a record for its longest seven-week winning streak since 2021. The popularity of the altcoin market has decreased, and there has generally been a larger correction. The net inflow of Bitcoin ETF throughout the week was US$2.115 billion, the net inflow of Ethereum ETF was approximately US$712.7 million, and the supply of stablecoins increased by US$2.1 billion, showing that funds continue to be optimistic. As of press time, Bitcoin suddenly rose, breaking through a record high and reaching $106,648. The top ten cryptocurrencies by market capitalization also experienced increases of nearly 1% to 4%.
In terms of foreign exchange commodities, the U.S. dollar index performed strongly last week, rising above 107 on Friday and continuing to set a two-week high, while non-U.S. currencies fell throughout the week. International oil prices rose sharply across the board last week due to geopolitical tensions. Benefiting from market expectations that the Federal Reserve will cut interest rates next week, spot gold rose 0.56% throughout the week.
The most watched economic event this week is the Federal Reserve's FOMC meeting on Wednesday, which will announce interest rate decisions and quarterly economic forecasts on Thursday. The market has fully responded to expectations of a 25 basis point interest rate cut in December. The market expects that interest rate cuts next year will be more cautious and slow, and may even suspend interest rate cuts in January.
In addition, this week is also the last "central bank super week" in 2024. As many as 25 central banks including Japan, the United Kingdom, and Sweden will discuss interest rates in the same week. The release of some key central bank decisions may cause market fluctuations, especially on 24 The foreign exchange and commodities markets are spinning every hour.
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