Anti-Clickbait News Summaries for December 11, 2024

Digital divide widens as Android dominates in developing regions and iPhone thrives in wealthier areas

Hi, it’s Jack and the Daily Moat team with your daily news summaries 😇

Happening Today:

Major Economic Data Release:
- Consumer Price Index (CPI) for November - This is today's most significant event, scheduled for early morning release. This report is particularly crucial as it will serve as the latest test of inflation trends after the Fed has already cut rates by 75 basis points in 2024. ¹

Federal Reserve:
- Second day of the FOMC meeting - The Federal Reserve will conclude its final meeting of 2024 today, with markets awaiting their interest rate decision and economic projections ¹

Market Context:
- Markets are showing cautious behavior ahead of these important announcements, with US stock futures showing mixed movement in early trading ²
- Investors are particularly focused on the CPI report as it could influence the Fed's monetary policy decisions ¹³
- Trading has been muted as market participants await these key economic indicators ⁴

Previous Day's Impact:
- Markets closed lower on Tuesday (December 10) as investors took profits ahead of today's crucial inflation data release ⁵

The combination of the CPI data release and the Fed's final meeting of the year makes this a particularly significant day for market movements, as both events could provide important signals about the direction of monetary policy and economic health going into 2025.

The Markets:

Futures Highlights

Futures are showing strength with solid gains across energy and equity indexes. Commodities like Natural Gas and Crude Oil lead the uptick.

• 🟢 Crude Oil: 69.40 (+0.81 | +1.18%)

• 🟢 Natural Gas: 3.2830 (+0.1200 | +3.79%)

• 🟢 Gold: 2728.90 (+10.50 | +0.39%)

• 🟢 Dow: 44396.00 (+61.00 | +0.14%)

• 🟢 S&P 500: 6065.75 (+19.50 | +0.32%)

• 🟢 Nasdaq 100: 21511.75 (+106.50 | +0.50%)

• 🟢 Russell 2000: 2407.20 (+18.40 | +0.77%)

Forex & Bonds

Currencies and bonds show mild to moderate gains. Bitcoin also advances, adding to the generally upbeat market sentiment.

• 🟢 EUR/USD: 1.0529 (+0.0002 | +0.02%)

• 🟢 USD/JPY: 152.13 (+0.18 | +0.12%)

• ⚪ GBP/USD: 1.2772 (+0.0001 | 0.00%)

• 🟢 BTC/USD: 98766.60 (+1194.00 | +1.22%)

• 🟢 5-Year Treasury: 4.118 (+0.021 | +0.51%)

• 🟢 10-Year Treasury: 4.246 (+0.025 | +0.59%)

• 🟢 30-Year Treasury: 4.441 (+0.033 | +0.75%)

Major News

Tech giants dominate the winners, while a few big names stumble significantly. Alphabet’s shares (GOOGL, GOOG) surge as Oracle lags behind.

Sorted from biggest winners to biggest losers:

• 🟢 GOOGL: +5.59%

• 🟢 GOOG: +5.32%

• 🟢 KR: +5.12%

• 🟢 PLAY: +3.98%

• 🟢 TSLA: +2.87%

• 🟢 BLK: +1.02%

• 🟢 AAPL: +0.41%

• 🟢 GM: +0.06%

• ⚪ M: 0.00%

• 🔴 AMZN: -0.46%

• 🔴 MSFT: -0.60%

• 🔴 REVG: -0.87%

• 🔴 PLTR: -2.17%

• 🔴 ACI: -2.27%

• 🔴 NVDA: -2.69%

• 🔴 ORCL: -6.67%

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