Global markets experience a dip, led by a decline in banking stocks. The Dow Jones Industrial Average suffers a nine-day losing streak, mirroring a similar downturn in 1978. While the S&P and Nasdaq remain near record highs, the Dow's struggles highlight potential concerns within traditional industries.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Global markets are weighed down by a 1.4% decline in banking stocks. Europe's tech stocks, however, managed to defy the slump to add 0.61%. Of 27 respondents, comprising economists, strategists and fund managers, showed that only 63% think it's the right move for the Fed.
Markets are watching the ongoing situation with Nissan, where discussions are taking place about the future of the company, under the holding company eventually. Both Honda and Nissan neither confirmed nor denied the report.The Santa Rally is a phenomenon in which stock prices rise on the last five trading days of the year and the first two in January. Once the Fed meeting concludes today — and barring any unwelcome surprise — markets are poised to welcome Santa Claus. In February 1978, the Bee Gees' song 'Stayin' Alive' was the top Billboard song of the month. It was also the anthem for the Dow Jones Industrial Average, which was struggling with nine straight days of losses. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Almost fifty years ahead, the Dow is mired in nine-day losing streak again. To take another cue from the Billboards chart, all investors want for Christmas is the Dow to stop bleeding red. Shares of UnitedHealth Group, which has contributed to more than half of the index's decline over the past eight sessions, noted CNBC's Yun Li. The health insurance company was rocked by a. Outside the Dow, the stock market is still cheery. Despite the S&P and the Nasdaq also slipping in their last trading session, both indexes are hovering near their record closes. This suggests that it's mostly the Dow constituents —'old-economy' stocks like industrials, financials and consumer discretionary — that are flailin
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