US stocks moved lower after Wall Street saw mixed US manufacturing and services PMI reports for December.
Investors are now awaiting the Federal Reserve’s (Fed) decision, which could shape market expectations for the year ahead, but before that, US retail sales data will be watched first in New York tonight (Tuesday).
On Monday, the Dow Jones fell 0.25%, the S&P 500 rose 0.38% while the Nasdaq Composite jumped 1.24%, hitting an all-time high.
Technology stocks contributed the bulk of Nasdaq’s gains with Tesla jumping 6.1% and Broadcom surging 11.2%, reaching a market value of $1 trillion.
Other big tech companies also showed strong results with Apple up 1.2% while Alphabet rose 3.5%, both hitting new record highs.
However, NVIDIA fell 1.7%.
MicroStrategy fell 0.04%, just before its listing on the Nasdaq 100, while Super Micro Computer (SMCI) fell 8.3% before being removed from the index.
Investors expect the Fed to cut interest rates by 25 basis points at its last meeting of 2024.
Meanwhile, the Fed's plans for interest rates in 2025 will also be of interest to investors.
