Stock market braces for crucial days

Market Braces
Market Braces

The final two days of the trading year will be crucial in determining the overall performance of 2024 for the stock markets. U.S. futures traded lower on Monday, following a losing session for major averages on Friday. The S&P 500 and Dow Jones Industrial Average have gained 25% and 14%, respectively, putting them on pace for their best years since 2021.

The tech-heavy Nasdaq has gained 31%. Note that markets will close on Wednesday for New Year’s Day. Former U.S. President Jimmy Carter has died at the age of 100.

Carter, the 39th president of the United States, served one term after his election in 1976.

A peanut farmer who rose to become the governor of Georgia, Carter’s presidency was marked by challenges such as stagflation and the Iran hostage crisis. Following his presidency, Carter led a prolific life dedicated to campaigning for human rights and building homes for the needy through his work with Habitat for Humanity.

Stock markets typically close for a day of mourning after a president’s death. A Jeju Air flight crashed in South Korea, resulting in the deaths of 179 people.

Stock market readies for crucial days

President Choi Sang-mok has vowed to investigate the tragedy thoroughly. South Korea’s transport ministry has announced a “comprehensive special inspection” of the B737-800 aircraft model involved in the incident. It remains unclear what caused the crash.

Google CEO Sundar Pichai is preparing for a critical 2025 as the company faces increasing competition and regulatory scrutiny. Pichai emphasized the need for the company to stay competitive, especially in the rapidly evolving AI sector. Both U.S. and European officials have moved to curb what they view as Google’s anticompetitive practices.

Pichai acknowledged that scrutiny is part of the cost of Google’s “size and success.”

President-elect Donald Trump has signaled a shift in his stance on banning the video-sharing app TikTok. Trump previously supported a ban but has since reconsidered. A law is set to ban TikTok in the U.S. on Jan.

19 if its Chinese parent company, ByteDance, does not sell the platform to an American company. The top U.S. court is scheduled to hear arguments about the law on Jan. 10.

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