The Dow Jones Industrial Average (DJIA) experienced a significant drop at the start of the Christmas trading week, shedding over 500 points before rebounding slightly. This decline follows a ten-day losing streak, pushing the index below its record highs. A weaker-than-expected November report on US Durable Goods Orders further contributed to market uncertainty.
The Dow Jones is fighting to regain its balance after getting knocked lower. Overall market flows are constrained with a holiday-shortened week on the cards. US Durable Goods Orders fell more than expected in November. The Dow Jones Industrial Average (DJIA) weakened to kick off the Christmas trading week, falling a little over 500 points at its lowest before staging a meager recovery to -100 points on Monday.
The Dow Jones is grappling with chart territory south of 43,000 following a ten-day backslide that dragged the major equity index back underneath record bids above 45,000. US Durable Goods Orders contracted further than expected in November, declining 1.1% MoM compared to October’s revised 0.8% upswing. Investors expected a print of -0.4%. Declines in consumer durable goods were concentrated in automotive purchases, as US Durable Goods Orders excluding Transportation fell by a meager 0.1% MoM. Median markets forecasts had expected a better core Durable Goods Orders growth of 0.3% in November. Overall market flows are constrained during the Christmas holiday-shortened trading week. Markets will be shuttered during the midweek market session, and trading volumes are set to remain constrained throughout the entire week. Dow Jones news The Dow Jones has moderated after snapping it’s longest losing streak since the 70s, where the index closed lower for ten consecutive trading sessions. Most of the Dow Jones is stuck on the low side of Monday’s opening bids, but firm tech gains have limited downside losses for the broader index. Nvidia (NVDA) rallied 3.2% and crossed above $139 per share as the broad-market tech rally continues to float on the high side. On the low side, retail giant Walmart declined 2.2%, falling to $90 per share for the first time in a mont
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