Today’s trading was a mixed bag. The Dow Jones Industrial Average edged up about 0.1%, marking its third consecutive record close, while the S&P 500 and the Nasdaq Composite slipped 0.3% and 0.6%, respectively.
Retail sales in December came in flat, essentially unchanged from the previous month. The lack of growth, after a 0.6% rise in November, fell short of what economists had expected and signaled a slowdown in holiday‑season spending.
That weak data has nudged market sentiment toward a greater likelihood of interest‑rate cuts from the Federal Reserve. Although most traders still anticipate the Fed to hold rates steady next month and into April, the percentage of market participants betting on cuts has risen, with over 75% now expecting lower rates by June.
Investors are also keeping an eye on the upcoming monthly jobs report, set to be released Wednesday. The report will be closely watched after recent signs of softness in the labor market. Meanwhile, the Consumer Price Index is due on Friday, giving a clearer picture of inflation pressures as the Fed balances its dual mandate.
Wealth‑management shares took a hit today after an AI startup unveiled a tool that could disrupt the industry by enabling advisers to craft fully personalized tax strategies from client documents. Shares of major firms in the sector fell more than 6%, echoing concerns that AI could reduce reliance on traditional advisory services.
In earnings news, investors scanned the latest quarterly results from familiar names such as Coca‑Cola and CVS Health. Ford also drew attention, with the company’s performance highlighted in the after‑hours trading session.
On the commodities side, gold slipped slightly after a brief rally earlier in the week, but analysts remain bullish on its prospects for the year. Bitcoin, on the other hand, continued to slide, trading near $69,000 as risk‑off sentiment weighed on the leading cryptocurrency.
Overall, the day’s activity set the stage for a week of key economic data that will shape market expectations and investor strategy.
