Markets News, December 27, 2024: Stocks Slide as Tesla Leads Big-Tech Slump; Major Indexes Hang on to Gains for the Week

Traders work on the floor of the New York Stock Exchange

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Stocks fell sharply on Friday as the Santa Clause rally that kicked off earlier in the week c✨am🧸e to a halt.

The Dow Jones Industrial Average closed 0.8% lower, snapping a five-session winning streak, while the S&P 500 and Nasdaq Composite shed 1.1% and 1.5%, respectively. The major indexes had closed 澳洲幸运5官方开奖结果体彩网:near unchanged on Thursday after surging before the Christmas break.

Despite Friday's sell-off, the three major indexes managed to post slight weekly gains after losing ground last week. For the Dow, this was the first time in four weeks the index rose, while the S&P broke a two-week losing streak.

Mega-cap technology stocks were down across the board on Friday, led by a 5% decline for EV maker Tesla (TSLA). Shares of AI investor favorite Nvidia (NVDA) fell 2%, while Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta Platforms (META) and Broadcom (AVGO) also lost ground. 澳洲幸运5官方开奖结果体彩网:Apple entered🌳 t🎃he session on the verge of becoming the first company to ever have🎉 a market capitalization of more ✅than $4 trillion.

Shares of data analytics software provider Palantir Technologies (PLTR), which joined the Nasdaq 100 this week, fell 3.7% today, while Super Micro Computer (SMCI) dropped 5.2%, extending a vo🙈latile run for the server maker.

Crytpo stocks fell again Friday as the price of bitcoin tumbled. MicroStrategy (MSTR), one of the world's largest holders of the digital currency, and crypto exchange Coinbase Global (COIN) both declined more than 3%. Bitcᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚoin was trading at around $94,000 late Friday afternoon, down from an overniඣght high of $97,300.

The yield on 10 year Treasurys, which is correlated with꧋ expectations about where interest rates a꧂re headed, was at 4.63% in recent trading, up from 4.58% yesterday and near its highest levels since May.

Gold futures were down 0.7% at $2,635 an ounce, whilꦕe crude oil futures rose🐻 nearly 1%.

Biggest S&P 500 movers on Friday

December 27, 2024 05:23 PM EST

Decliners

  • Shares of server maker Super Micro Computer (SMCI) fell the most of any S&P 500 stock, tumbling 5.2%. The Nasdaq granted an extension earlier this month for Supermicro to file its delayed annual report, but questions persist about the company's accounting practices and capacity to meet the updated deadline.
  • Tesla (TSLA) shares sank 5%, extending losses posted Thursday. The electric vehicle giant is expected to release quarterly production and delivery figures next week. Based on current consensus estimates for fourth-quarter vehicle deliveries, Tesla's 2024 totals could fall short of last year's results.
  • Palantir Technologies (PLTR) stock fell 3.7%, reversing some of this week's push higher. Shares of the data analytics software provider debuted on the Nasdaq 100 Index on Monday, and later in the week, Wedbush analysts highlighted Palantir as a top pick among artificial intelligence software firms alongside Salesforce (CRM).

Advancers

  • Lamb Weston Holdings (LW) shares rose 2.6%, posting the strongest gains in the S&P 500 Friday, following reports that activist investor Jana Partners is collabo🦩rating with another former company executive as it advocates for a transformation of the frozen potato provider. Jana recently called for changes to the board of directors or a sale of the company after Lamb Weston posted a loss and named a new CEO.
  • Crude oil prices ticked higher as the U.S. Energy Information Administration reported a weekly inventory drop. Shares of oil and gas exploration and production company APA Corp. (APA) added 1.1%.
  • Shares of chocolate maker Hershey (HSY) ticked 0.9% higher on Friday. Hershey stock surged earlier this month on the possibility of a combination with snack food giant Mondelez (MDLZ) but gave back those gains in recent weeks. Following the reports, Mondelez announced an additional $9 billion share repurchase and affirmed its focus on bolt-on acquisitions, omitting discussion of any major move, but TD Cowen analysts recently said this does not entirely negate the potential for a deal with Hershey.

-澳洲幸运5官方开奖结果体彩网:Michael Bromberg

Major Indexes Cling to Gains for the Week

December 27, 2024 04:55 PM EST

Major U.S. stock indexes on Friday gave back most of the gains they'd generated earlier in the week but managed to finish in positive territory for the week.

Dow Industrials vs S&P 500 vs Nasdaq Composite week of Dec. 23, 2024

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The Nasdaq Composite added 0.8% this week, while the S&P 500 and Dow Jones Industrial Average tacked on🍬 0.7% and 0.4%, respectively. Stocks were rebounding from the previous week, when all three major indexes fell, the first time in more than a month that they recorded concurrent weekly losses.

With two trading days left in December, the Nasdaq is up 2.6% for the month, while the S&P 500 and Dow are down 1% and 4.3%, 𝔉respectively.

For the y♑ear to date, the Nasdaq has gained 31%, while the S&P 500 is up 25% and the Dow has added 14%.

Dow vs S&P 500 vs Nasdaq Composite YTD

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What to Expect in the Crypto Markets in 2025

December 27, 2024 03:48 PM EST

Bitcoin has soared this year, boosted by the approval of spot bitcoin ETFs and the bitcoin halving event, as well as optꦜimism 🐬surrounding the election of Donald Trump as U.S. president.

In 2025, attention will turn to the Trump administration's attempts to provide regulatory clarity for the crypto industry.

Some analys🍬ts🐟 say bitcoin could rise to $200,000 by the end of next year, amid growing demand from institutional investors, though history would suggest the market may be due for a correction.

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Kyle Torpey

Lamb Weston Shares Rise as Activist Jana Pushes for Change

December 27, 2024 01:53 PM EST


Shares of Lamb Weston Holdings (LW) rose Friday after 澳洲幸运5官方开奖结果体彩网:activist investor Jana Partners added another former company executive to its line🔯up of board candidates as it seeks to shake up the frozen potato maker.

In a regulatory filing, Jana showed that Jeffery DeLapp had 458 🐎voting shares. DeLapp had been president of Lamb Weston, as well as rival potato provider McCain Foods USA.

Former Lamb Weston Executive Chair Timothy McLevish had already aligned with Jana, which now has six food-industry executives who could challenge for a position on the board. Jana 澳洲幸运5官方开奖结果体彩网:took a more-than-5% stake in the company in October. 

Shares of Lamb Weston were recently up ✨about 4%. Even with today’s advance, Lamb Weston shares have lost more than a third of their value this year.

Lamb Weston stock price chart YTD

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Jana last week blasted the company after Lamb Weston reported an unexpected quarterly loss and cut its guidance. The company cited softening demand for frozen potatoes, which it sees continuing into 2026. Lamb Weston also said CEO Tom Werner would be replaced on Jan. 3 by COO Michael J. Sm❀ith.

In a statement, Jana called the results “disastrous,” and said the decision to trade its CEO "for another long-standing Lamb Weston executive complicit in its widespread operational and strategic debacles is just the latest stick in the eye from a Board that has completely failed shareholders.”

Sayiꦜng “enough is enough,” it demanded a significant board change and said if that doe♚sn’t occur, the company should be sold.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Amedisys, UnitedHealth Extend Deadline to Complete Merge

December 27, 2024 12:41 PM EST

UnitedHealth Group (UNH) and Amedisys (AMED) agreed to extend the deadline to complete their 澳洲幸运5官方开奖结果体彩网:$3.3 billion merger, a𝔍fter the U.S. Department of Justice moved to block it.

The deal was announced in June of last year and had been ex♋pected to be completed this week, but the Department of Justice and state regulators moved last month to block it, arguing it could give UnitedHealth much control in the market for home health aꦫnd hospice services.

The case is currently in front of a federal judge in the Distriܫct of Maryland.

In a regulatory filing Friday, Amedisys said the two firms waived their right to termina🗹te the agreement until the 10th business day following the final order of the court, or Dec. 31, 2025, whichever comes first.

The new waiver includes a regulatory breakup fee of $275 million, which could go as hi✤gh as $325 million, if the companies fail to divest certain assets by May 1.

Amedisys shares were up nearly 5% in ea🧜rly-afternoon trading Friday, while UnitedHealth shares were down 0.5%.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

What's Ahead for the Federal Reserve in 2025?

December 27, 2024 11:22 AM EST

The Federal Reserve's plans for interest rate cuts in 2025 are up in the air as officials wait to see what policy President-elect Donald Trump will impose and what effect it has on the economy.

In particular, Trump's plans to impose tariffs have raised eyebrows at the central bank because they could push up inflation.

In this photo composite, the Federal Reserve building sits in front of Donald Trump and Jerome Powell.

Investopedia / Photo Composite by Alic♍e Morgan /♒ Getty Images

The year ahead could bring conflict between Trump and Fed Chair Jerome Powell, who has resisted Trump's suggestion that the president should have a say in monetary policy decisions.

Read the 澳洲幸运5官方开奖结果体彩网:full article here on the outlook for the Fed in the year ahead.

-澳洲幸运5官方开奖结果体彩网:Diccon Hyatt

Major Indexes on Track to Post Weekly Gains

December 27, 2024 09:51 AM EST

Major U.S. stock indexes came into Friday's session on track to post weekly gains, rebounding from last week's downturn.

The Nasdaq Composite was up 2.3% for the week through Thursday's close, while the S&P 500 and Dow were both up more than 1%.

The indexes fell last week, the first timeꦰ in five weeks that they had done so concurrently. The Dow would break a three-week losing streak if it hangs on to gains this week, while the S&P 500 would snap a two-week losing run. The Nasdaq fell last week for the first time in five weeks.

DJIA vs S&P 500 vs Nasdaq
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Futures Point to Lower Open for Major Indexes

December 27, 2024 08:41 AM EST

Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were each down 0.4% about an hour before Friday's opening bell. The indexes, however, remain on track to post weekly gains, rebounding from last week's downturn.

Dow Jones Industrial Average Futures

DJIA futures - Dec. 27, 2024

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S&P 500 Futures

S&P 500 futures - Dec. 27, 2024

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Nasdaq 100 Futures

Nasdaq 100 futures - Dec. 27, 2024

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