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  • Dec 31, 2024

Wall Street ends lower, capping a banner year

NEW YORK (Reuters) -Wall Street lost ground on Tuesday as investors closed the book on a remarkable year for equities, during which the U.S. stock market was powered to record highs by the twin engines of the artificial-intelligence boom and the U.S. Federal Reserve's first interest rate cuts in three-and-a-half years. 2024 included intensifying geopolitical strife, a U.S. presidential election and shifting speculation regarding the path of Fed policy in the coming year. "There’s no Santa Claus rally this week, but investors received the gift of gains in 2024," said Greg Bassuk, chief executive officer at AXS Investments in New York.

  • Dec 31, 2024

US stock markets to remain closed in honor of Jimmy Carter on National Day of Mourning

U.S. stock markets will remain closed on Jan. 9 in honor of former President Jimmy Carter, continuing a long-held Wall Street tradition in mourning the nation’s leaders. Both the New York Stock Exchange and Nasdaq announced this week that they plan to close their equity and options markets next Thursday in observance of a National Day of Mourning for the 39th U.S. president and global humanitarian. Carter died on Sunday at his home in Plains, Georgia.

  • Dec 31, 2024

Oil Rises to End 2024 Little Changed as Traders Brace for Glut

(Bloomberg) -- Oil rose in thin holiday trading to close out a flat performance in 2024 as the market braces for a global surplus next year.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusWest Texas Intermediate rose 1% to settle at $71.72 a barrel, notching a 7-cent gain in 2024. Brent advanced 0.3% to settle at $74.64, down 3.1% for the year. Crude a

  • Dec 31, 2024

FalconX in Talks to Acquire Crypto Derivatives Startup Arbelos

(Bloomberg) -- Digital-asset trading and brokerage firm FalconX is in advanced talks to acquire Arbelos Markets, a derivatives startup launched in 2023 by a pair of crypto industry veterans. Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusThe transaction will be financed through a mix of cash and FalconX stock, and is expected to be announced in the co

  • Dec 31, 2024

Dollar dominates on cautious Fed, Trump trade

The U.S. dollar hit a two-year high and was on track to post an annual gain against almost all major currencies on Tuesday as the prospect that the Federal Reserve will hold interest rates higher than peers led the U.S. currency to dominate rivals. Traders have adjusted for the U.S. central bank to take a slow and cautious approach to further rate cuts next year as inflation remains above the Fed’s 2% annual target. Analysts also expect policies to be introduced by president-elect Donald Trump, including business deregulation, tax cuts, tariffs and a clampdown on illegal immigration, to boost growth and add to price pressures next year.

  • Dec 31, 2024

Dollar Gains as Fed Rate-Cut Rethink Fuels Best Year in Nine

(Bloomberg) -- The US dollar rose Tuesday, capping its strongest yearly advance in nearly a decade as the solid US economy and President-elect Donald Trump’s tax-cut and tariff policies promise to keep interest rates elevated.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusThe gain drove the Bloomberg Dollar Spot Index to the highest since November 202

  • Dec 31, 2024

Boeing on track to be 2024's biggest loser in Dow Jones Index

Boeing's shares opened the year at $257.50. Regardless, Boeing has struggled to produce close to its maximum-allowed 737 planes per month due to supply-chain problems, quality issues and a seven-week-long strike that temporarily shut down most of its commercial aircraft production, including the 737 program. Boeing also continued to post massive losses from its commercial, military and space programs throughout the year.

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