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ADDX Go Market Morning Wrap - Merry Christmas

Go Wire
Go Wire
December 25, 2024
GoGPT Summarizes Articles

 

Market Summary

European and American stock and bond markets closed early, and U.S. stocks collectively closed at daily highs. Large technology stocks such as $NVDA led the gains, $AAPL hit a new high, $AVGO rose more than 3%, $GS Goldman Sachs and $Morgan Stanley rose more than 2%, the China Concept Index once rose more than 1%, Julius Baer rose 310%, $NIO and Yum China rose more than 3%. U.S. long-term bond yields hit a seven-month high before falling, the U.S. dollar hovered at a two-year high, the yen continued to be less than 157, close to a five-month low, the offshore renminbi fell to 7.31 yuan before turning up, and Bitcoin rose 6%. Oil, London aluminum and nickel rose more than 1%, and U.S. oil rose above $70

 

Major US stock indices continued to rise, with the Nasdaq leading the gains, and the rapid decline in late-session volatility made market sentiment more optimistic

 

Stocks to Focus

  1. $HMC Honda Motor closed up 1.19% after announcing a 1.1 trillion yen share repurchase plan
  2. $AAL American Airlines closed up 0.58% after falling more than 2.6% after grounding all flights across the United States due to technical problems
  3. $SBUX closed up 2.82% after reports said the Starbucks strike would expand to more than 300 stores in the United States.

 

Historical data reference

According to LPL Research, the $SPX S&P 500 has averaged a 1.3% return during the last five trading days of each year and the first two trading days of the New Year, the so-called Santa Claus Rally, since 1950, well above the market's average seven-day return of 0.3%. Tuesday marks the start of the 2024 Santa Claus Rally

 

Macro

The minutes of the Reserve Bank of Australia meeting showed that it was close to cutting interest rates and was more confident about inflation, but it was still too early to declare victory. Previously, the interest rate was kept unchanged at a 13-year high in the December meeting. South Korea's opposition party said it would immediately start the impeachment process of Acting President Han Deok-soo. Affected by the political turmoil, foreign investors fled the South Korean stock market frantically, with a net sale of more than 3 trillion won in 13 trading days, and the won was close to the lowest level in 15 years

 

Cryptocurrency

  1. $BTC rose above $99,000, and cryptocurrency stocks generally rose. $BTDR Bitdeer Technology closed up 14.81%, $RIOT closed up 8.06%, and $CAN Canaan Technology closed up 9.22%. Cryptocurrency exchange giant $COIN closed up 4.28%, BTC Digital closed up 11.06%, $HUT closed up 12.15%, and $MSTR closed up 7.81%.

 

#$Nvidia Corp(NVDA)#$Apple Inc.(AAPL)#$Broadcom Inc. Common Stock(AVGO)#$Goldman Sachs Group Inc.(GS)#$NIO Inc. American depositary shares each representing one Class A ordinary share(NIO)#$Honda Motor Co. Ltd. American Depositary Share each representing three (3) shares of Common Stock(HMC)#$American Airlines Group Inc.(AAL)#$Starbucks Corp(SBUX)#$S&P 500(SPX)#$BTC/USDT COINBASE(BTC)#$Bitdeer Technologies Group Class A Ordinary Shares(BTDR)#$Riot Platforms Inc. Common Stock(RIOT)#$Canaan Inc. American Depositary Shares(CAN)#$Coinbase Global Inc. Class A Common Stock(COIN)#$Hut 8 Corp. Common Stock(HUT)#$MicroStrategy Inc(MSTR)