This article provides a summary of various market and financial updates as of Friday (December 27th). Here are some key points:
Market Updates
- US stocks look set to open lower later on.
- The S&P 500 (^GSPC) fell below the flatline, while the tech-heavy Nasdaq (^IXIC) fell slightly. The Dow Jones Industrial Average (^DJI) closed the session up 28 points.
- Small cap stocks inched higher, sending the Russell 2000 (^RUT) up 0.9%.
- Bitcoin (BTC-USD) fell to hover near the $96,000 level.
Economic Updates
- Number of UK retailers in financial distress rises: According to Begbies Traynor data, there were 2,124 retailers in ‘critical financial distress’ in the first 11 weeks of the October-December quarter.
- Footfall across all UK retail destinations dropped by -4.9% compared to Boxing Day last year.
Global Markets
- The Korea KOSPI Composite index (^KS11) finished 1% lower due to ongoing political turmoil in South Korea.
- Japan’s Nikkei rallied 1.8%, putting the index on course for its best year-end close since 1989.
Commodities
- Gold prices saw a modest decline amid thin year-end trading, but remain poised to post gains for the week as markets await economic signals under the incoming Trump administration.
- Gold futures slipped by nearly 0.4% to $2,641.30 per ounce.
Crypto Updates
- Bitcoin (BTC-USD) fell to hover near the $96,000 level.
Overall, these updates indicate that markets are cautious ahead of the weekend, with US stocks set to open lower and global markets reacting to ongoing political turmoil in South Korea.