A global equity index climbed on Monday, driven by strong performance from Wall Street heavyweights. U.S. Treasury yields also increased as data revealed a decline in U.S. consumer confidence and investors anticipated fewer rate cuts in 2025. The Nasdaq and S&P 500 were lifted primarily by rallies in megacap stocks like Nvidia and Broadcom.
NEW YORK/LONDON, Dec 23 - A global equity index was rising on Monday with help from Wall Street heavyweights and U.S. Treasury yields climbed as data showed a deterioration in U.S. consumer confidence and investors prepared themselves for fewer rate cuts in 2025.
While new orders for key U.S.-manufactured capital goods rose in November amid strong demand for machinery, orders of durable goods - ranging from toasters to aircraft - dropped 1.1% after increasing 0.8% in October, with declines mostly reflecting weakness in commercial aircraft orders. At 02:52 p.m. the Dow Jones Industrial Average , opens new tab fell 46.08 points, or 0.11%, to 42,794.18, the S&P 500 , opens new tab rose 25.44 points, or 0.43%, to 5,956.29 and the Nasdaq Composite , opens new tab rose 147.08 points, or 0.75%, to 19,719.67
"There's concern about the economy. There's concern about the Fed making a wrong move and there's the great unknown of what Trump is actually going to do," said Ghriskey, referring to U.S. President-elect Donald Trump's Jan. 20 inauguration. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 3.5 basis points to 4.347%, from 4.312% late on Friday.
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