Stocks went down on the first day of trading in the new year. The Dow Jones Industrial Average dropped 0.4%, with the S&P 500 and Nasdaq Composite also down the same amount. Even though the market started higher, it turned around in the morning. Big Tech companies like Apple and Tesla saw losses, while Nvidia went up slightly. Last year was good for stocks, but it ended on a bad note. The S&P 500 went up 23%, but had four straight days of losses at the end of the year. This makes it hard for a “Santa Claus rally” to happen. Bond yields were up and down, with the 10-year Treasury yield going to almost 4.6%. This could make investing in fixed income more appealing. The week had little economic news, but a jobless claims report showed fewer people filing for unemployment.
Vocabulary List:
- Industrial /ɪnˈdʌs.tri.əl/ (adjective): Related to or characterized by industry.
- Stock /stɒk/ (noun): The shares of a particular company or financial asset.
- Yield /jiːld/ (noun): The income generated from an investment usually expressed as a percentage.
- Unemployment /ˌʌn.ɪmˈplɔɪ.mənt/ (noun): The state of being without a job despite being willing to work.
- Appealing /əˈpiː.lɪŋ/ (adjective): Attractive or interesting.
- Rally /ˈræli/ (noun): A period of sustained increases in the prices of stocks or commodities.
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