LIVE MARKETS-Ahead of New Year's Eve, U.S. stocks look dressed to the nines

Dow Jones Industrial Average -1.24%
NASDAQ -1.62%
IBEX HOLDINGS LTD -0.42%
S&P 500 index -1.46%
VanEck Vectors Indonesia Index ETF -1.66%

IBEX HOLDINGS LTD

IBEX

14.10

-0.42%

VanEck Vectors Indonesia Index ETF

IDX

15.94

-1.66%

Dow Jones Industrial Average

DJI

37983.24

-1.24%

NASDAQ

IXIC

16175.09

-1.62%

S&P 500 index

SPX

5123.41

-1.46%

Main U.S. indexes ~flat

Dec Chicago PMI 46.9 vs 51.0 estimate

Tech leads S&P 500 sector gainers; real estate weakest

Euro STOXX 600 index up ~0.2%

Dollar, gold ~flat; crude, bitcoin gain

U.S. 10-Year Treasury yield rises to ~3.88%

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AHEAD OF NEW YEAR'S EVE, U.S. STOCKS LOOK DRESSED TO THE NINES

U.S. stocks are subdued on the final trading day of an upbeat year which has seen the benchmark S&P 500 rally close to a record peak due to growing expectations the Federal Reserve will cut interest rates early next year.

Indeed, the S&P 500 .SPX is now around 4,785 and is just shy of its January 3, 2022 record-high close of 4,796.56 and its January 4, 2022 intraday peak of 4,818.62.

Meanwhile, the SPX, DJI .DJI and Nasdaq Composite .IXIC are all on pace to rise for a ninth-straight week.

The SPX last rose nine weeks in a row from late-November 2003 to late-January 2004. The DJI rose nine-straight weeks from late-December 2018 to late-February 2019. The IXIC gained for 10 weeks in a row from late-December 2018 to early-March 2019.

Here is an market snapshot around 20 minutes after the open:



(Terence Gabriel)

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FOR FRIDAY'S OTHER LIVE MARKETS POSTS:


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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)

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