The US stock market ended the week lower despite a last-minute rally. Though the energy sector saw gains, the broader market remained down. Key economic data releases this week include minutes from the Federal Reserve's December meeting and December's jobs report.
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. Like what you see? You can subscribe. US markets ended the week lower despite a last-minute rally. The S&P 500 Energy sector bucked the trend, and is up more than 3% for the week. Asia-Pacific markets blew out midair from a nearly new Boeing 737 Max 9 operated by Alaska Airlines.
New CEO Kelly Ortberg, who began in the top job in August, is tasked with ensuring Boeing can ramp up production and maintain quality. Over half of the expected AI infrastructure spending will take place in the U.S., Microsoft Vice Chair and President Brad Smith wrote. Microsoft's 2025 fiscal year ends in June. Meanwhile, a Chinese company is making a robot that can help with chores. It's called the X-Mini, and it has a folding arm for removing socks and other obstacles. Its appendage is powered by artificial intelligence developed by the company, which has a lab in Shanghai and a research institute in Shenzhen. Key economic data releases this week are minutes for the U.S. Federal Reserve's December meeting, out Wednesday, and December's jobs report, out Friday. While neither is likely to change the Fed's interest rate decision at its January meeting, they could provide more clarity on the central bank's moves in 2025. The S&P 500 advanced 1.77% on Friday. Still, losses from previous trading sessions — prior to Friday, the S&P and Nasdaq were on a five-day losing streak — were too heavy to bear. For the week, the S&P declined 0.48%, the Dow lost 0.60% and the Nasdaq backtracked 0.51%. This means the so-called Santa Claus Rally, a phenomenon in which stocks climb during the last five trading days of the year and the first two of the next, didn't descend on markets this year. That said, putting too much faith in such signals may be the adult equivalent of believing that it's really Santa putting a PlayStation under the tree because we were nice children
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