S&P 500 and Nasdaq futures decline to start final trading week of 2024

Futures contracts linked to the S&P 500 Index (S = f(Tech-heavy Nasdaq)q = f) And the Dow Jones Industrial Average (Yum = wow) all drifted down Monday morning.

This downward move came as the 10-year Treasury yield rose (^ TNX) is hovering near a 7-month high at 4.6%.

Stocks He closed last week with a slide on Friday Of the names of major technology companies such as Tesla (TSLA) and Nvidia (NVDA(, with the Nasdaq Composite falling 1.5% and the S&P 500 falling more than 1%.

Highly anticipated March “Santa Claus”.which is statistically One of the most consistent positive seven-day periods of the year for the S&P 500he has It’s been a flop so far. Since 1950, the S&P 500 has risen 1.3% during the seven trading days beginning Dec. 24, well above the typical seven-day average of 0.3%, according to Adam Turnquist, chief technical strategist at LPL Financial. In the current period, the S&P 500 index is down less than 0.1%.

But with just two trading days left in 2024, markets are hoping to recapture the bigger picture of the year – one full of gains. The S&P is up more than 25% this year, while the Nasdaq is up more than 30%. The blue-chip Dow Jones index rose a more modest 14%.

Late Sunday night, former President Jimmy Carter He died at the age of 100 years at his home in Plains, Georgia, the Carter Center said. Stock markets are still ready to open on Monday at 9:30 a.m. ET.

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