U.S. markets are set to close out 2024 with modest gains, despite recent dips. The S&P 500, Nasdaq, and Dow have all experienced significant growth this year driven by a strong economy, consumer spending, and a robust jobs market. Receding inflation has also fueled optimism, but concerns remain about potential tariff hikes from the incoming Trump administration and their impact on inflation.
A sign outside the New York Stock Exchange marks the intersection of Wall and Broad Streets, Dec. 12, 2024, in New York. Wall Street was on track to open with small gains Tuesday, the final day of trading in what's been a banner year for U.S. markets.
Despite the post-holiday slump, the S&P 500 is up about 24 per cent heading into the final day of 2024. The Nasdaq is up nearly 30 per cent and the Dow has gained 13 per cent. In Europe at midday, France's CAC 40 jumped 0.8 per cent, while Britain's FTSE 100 climbed 0.6 per cent. German markets are closed on New Year's Eve and Jan. 1 with trading set to continue Thursday.Hong Kong's Hang Seng added nearly 0.1 per cent to 20,059.95, while the Shanghai Composite lost 1.6 per cent to 3,351.76 after Chinese manufacturing data seemed to show that Beijing's stimulus measures have not done enough to boost the nation's sluggish economy.
Auckland has become the first major city to welcome 2025, with thousands of revellers counting down to the new year and cheering at colourful fireworks launched from New Zealand's tallest structure, Sky Tower, and a spectacular downtown light show.A Quebec heritage site on the Island of Montreal that was the former home of a renowned artist has been destroyed in a fire.
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