Wall Street closes positive, S&P from record. EU stock exchanges close sluggish: Milan flat
Gold on the highs driven by rising geopolitical tensions and the prospect of new rate cuts. Silver, platinum and copper also rallied. Euro little moved, oil on the rise
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(Il Sole 24 Ore Radiocor) - The European stock exchanges, many of which, including Milan, are closed for the holiday season, closed in disorderly fashion in a session that was nonetheless anomalous. On a Christmas Eve marked by very weak trading, Piazza Affari, which closed at highs on Tuesday, and Frankfurt remained flat, Paris (CAC 40 ), Amsterdam (AEX), London (FT-SE 100 ) and Madrid (IBEX 35 ) remained open only half a day. Investors are wondering whether the stock markets will be able to pull off a 'Christmas rally' after the new record highs of the last few days.
Wall Street closes positive, S&P a record
Wall Street closed positive. The Dow Jones climbed 0.60 per cent to 48,371.81 points, the Nasdaq advanced 0.22 per cent to 23,613.31 points and the S&P 500 gained 0.32 per cent to 6,932.12 points. Earlier in the day, the US Department of Labor reported that new weekly claims for unemployment benefits for the week ending 20 December came in at 214,000, down from 224,000 the previous week and below the Dow Jones forecast of 225,000. The US economy's 4.3 per cent growth in the third quarter - the fastest pace in two years - potentially complicates the Federal Reserve's interest rate strategy. According to the Cme Group's FedWatch Tool, most investors now expectrates to remain unchanged until April; overall, the Fed is still expected to cut rates by 50 basis points during 2026. The New York Stock Exchange will close at 7 p.m. (Italian time), today, and remain closed, tomorrow, for Christmas Day. In equities, the Nike stock was highlighted on the news that Tim Cook, Apple's CEO, bought shares in the sportswear company worth nearly $3 million. Christmas.
In Paris down Sanofi, under the spotlight Bp in London
Luxury stocks took the spotlight on the French stock exchange, withLvmh up 1.39%, Kering up 0.77% and Hermes up 0.62%. Weak instead Sanofi (-0.74%) after the announcement of the acquisition of Dynavax Technologies and the US Fda's halt to a drug to treat multiple sclerosis. Also down TotalEnergies (-0.43%) and Dassault Systemes (-0.46%).In London Bp lost 0.39% after the sale of Castrol to US hedge fund Stonepeak. Selling on Games Workshop (-1.46%), while Schroders (+1.8%) and Metlen Energy (+1.77%).
Gold and silver rally continues. Oil rises, euro little moved
Among commodities, precious metals still set record highs: gold spot remains at record levels, having broken through the $4,500 mark for the first time with a top at $4,525. silver trades above $72, having touched a top of $72.70, while platinum reached $2,377.5. Record also for copper on the back of strong economic growth signalled by US Q3 GDP, fuelling demand prospects for the metal amid tight supply. After hitting an all-time high of $12,282 a tonne in London in recent hours, contracts on the metal also reached a new high of 96,510 yuan in Shanghai trade. The price of oil rose modestly, with Wti above $58 a barrel and Brent crude surpassing $62. On the currency market, euro/dollar moved just under $1.18. The yen continued to recover.
