Market Recap – December 12th
US stocks started the week on a positive note, with investors looking ahead to key monetary policy decisions from the Federal Reserve, European Central Bank, and other central banks. The S&P 500 index rose 0.7% after the New York Federal Reserve released data showing a decline in consumer inflation expectations. The tech-focused Nasdaq 100 index also saw gains after fluctuating earlier in the day. Treasury yields increased, with the 10-year yield hovering around 3.63%, and the dollar strengthened.
Looking at specific stocks, Boeing’s shares increased by 2.8% after Air India ordered 150 737 Max jets. Meanwhile, shares of Rivian, the electric vehicle company, dropped by over 4% after it was announced that the company plans to make electric vans in Europe with Mercedes-Benz on hold. Rivian CEO RJ Scaringe explained that the company is focusing on its existing consumer and business ventures to achieve “the best risk-adjusted returns” on its capital investments. The original agreement with Mercedes-Benz was announced in September.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.