Consumer Confidence - Monday
Durable Goods Orders - Tuesday
New Home Sales - Tuesday
Christmas Day: Stocks Closed - Wednesday
Initial Jobless Claims - Thursday
- U.S. stock index futures were subdued on Monday after a last-minute government funding bill averted a shutdown and investors parsed the central bank's forecast on interest-rate cuts next year.
- The United States Congress passed spending legislation early on Saturday, minutes after the funding's expiration, which could have disrupted everything from law enforcement to national parks ahead of the busy Christmas travel season.
- After a solid run since the November presidential election, Wall Street's rally hit a bump this month, especially after the U.S. Federal Reserve forecast just two 25-basis-point rate reductions for 2025 - down from its September view of four cuts - and raised its annual inflation outlook, a sign that the world's largest economy was in strong health.
- However, a cooler-than-expected inflation report on Friday eased some worries about rate cuts next year, helping the three main U.S. stock indexes bounce back.
- Trading volumes are expected to thin, adding some volatility, with U.S. stock markets closing early on Tuesday and shut for Christmas on Wednesday.
- Markets are also entering a historically strong period for U.S. stocks. Since 1969, the last five trading days of the year, combined with the first two of the following year, have yielded an average S&P 500 gain of 1.3% - a period known as the "Santa Claus Rally"
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