Here are the most important news items that investors need to start their trading day:
1. Dull December
Stocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell 1.8% last week. The S&P 500 also slid 0.6% during the period. The only winner was the Nasdaq Composite, which rose 0.3% for the week. Investors are looking ahead to the Federal Reserve’s December interest rate decision Wednesday. Policymakers are widely expected to cut the Fed’s benchmark rate by a quarter of a percentage point. Follow live market updates.
2. Bitcoin bonanza
Bitcoin hit a fresh record Sunday evening, topping out above $106,000. The cryptocurrency’s torrid run got a boost from market expectations that the Fed would trim rates again this week. Bitcoin has now climbed 50% since the presidential election and 145% this year.
3. AI cash injection
Softbank CEO Masayoshi Son speaks to the press after meeting with U.S. President-elect Donald Trump at Trump Tower in Manhattan, New York City, U.S., December 6, 2016.
Brendan McDermid | Reuters
4. GM’s growth gambits
5. Order up
Close-up of McDonald’s Double Quarter Pounder with Cheese burger, San Ramon, California, August 3, 2024.
Smith Collection | Gado | Archive Photos | Getty Images
As consumers watched their spending follow years of elevated inflation, the restaurant industry was further divided into winners and losers this year. Fast-food chains like McDonald’s and Wendy’s had a tough stretch – though leaning into deals helped to boost traffic to restaurants. Yum Brands’ Taco Bell had a better year, as diners thought it offered better value for their money. Meanwhile, fast-casual chains like Cava and Wingstop enjoyed strong years. Read more about the restaurant industry’s 2024 winners and losers here.
– CNBC’s Brian Evans, Jesse Pound, Tanaya Macheel, John Melloy, Michael Wayland and Amelia Lucas contributed to this report.
