LIVE MARKETS-US indexes recover a bit after Fed day selloff

Reuters2024-12-19
LIVE MARKETS-US indexes recover a bit after Fed day selloff

Main U.S. indexes post early gains, though action choppy

Utilities lead S&P sector gainers; healthcare down most

Euro STOXX 600 index down >1.5%

Dollar ~flat; crude, bitcoin slip; gold edges up

U.S. 10-Year Treasury yield rises to ~4.55%

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U.S. INDEXES RECOVER A BIT AFTER FED DAY SELLOFF

The three major U.S. stock indexes are moving higher in early trading on Thursday after they sold off sharply the day before, when the Federal Reserve signaled it may deliver fewer interest rate cuts in 2025 than it had earlier projected.

The Fed on Wednesday cut rates 25 basis points, and U.S. central bankers issued fresh projections calling for two quarter-point interest-rate cuts next year amid rising inflation, a forecast consistent with a wait-and-see approach.

Stocks have risen sharply in 2024, partly because the Fed had begun a new easing cycle in September.

Utilities .SPLRCU and financials .SPSY are among the biggest sector gainers on Thursday, along with communication services .SPLRCL, while healthcare .SPXHC is the weakest group.

Here is an early market snapshot:

(Caroline Valetkevitch)

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FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:

BITCOIN IN SEARCH OF SANTA RALLY AFTER FED-FUELED SELLOFF - CLICK HERE

S&P 500 INDEX WALLOPED, BUT IS IT WASHED OUT? - CLICK HERE

HERE COMES THE BOE - CLICK HERE

GOLD: STILL A GOOD CHRISTMAS GIFT - CLICK HERE

FED SENDS STOXX 600 TO NEAR THREE-WEEK LOW - CLICK HERE

EUROPE BEFORE THE BELL: FUTURES SLIDE ON FED OUTLOOK - CLICK HERE

JAPAN HOLDS, BANK OF ENGLAND UP NEXT - CLICK HERE

early snapshot https://tmsnrt.rs/3ZIZpGL

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