In the final hours of trading in 2024, investors are likely to continue to take it easy, especially as the majority of them will probably not open their books anyway. Nevertheless, important data from China could provide some impetus. Due to New Year's Eve and New Year's Day, investors should once again be prepared for limited trading hours.
Interest rate turnaround by the Fed and ECB as a key influencing factor in 2024
However, investors can look back on a positive stock market year overall. Since the beginning of the year, the Dow Jones Industrial Average Index has gained 14.44%. In the same period, the tech-heavy NASDAQ has risen by around 29% and the broad-based S&P 500 by around 26%.
Among other things, the stock markets benefited from the interest rate turnaround by the major central banks, the Fed and the ECB, as well as the prospect of business-friendly policies by US President-elect Donald Trump.
Restricted trading hours in New Year's week
On Wall Street, the stock exchange doors will remain open until 22:00 on Monday. In Frankfurt am Main, trading ends at 14:00. The stock markets will be closed on New Year's Eve and New Year's Day. The new stock market year 2025 will not begin until Thursday.
Economic data from China could provide important impetus
At the start of the week, investors should keep an eye on new economic data from China on the PMI index for the non-manufacturing sector. New figures on the PMI production index will also be published (02:30).
The Caixin Purchasing Managers' Index (PMI) will be published in the night from Wednesday to Thursday (02:45).
Weekly initial claims for US unemployment benefits and speech by Fed representative could move on Thursday
Initial claims for US unemployment benefits will be in focus on Thursday at 2:30 pm.
Also of interest is a speech by Fed member Barkin, which will be tapped for monetary policy clues at 16:00.
The ISM employment index for the manufacturing industry and new orders for the sector will be published at 16:00.
Electric car manufacturer could publish production and delivery figures
From a corporate agenda perspective, things are also likely to be quieter. The publication of the electric car manufacturer's production and delivery figures at the start of the year could be exciting. Traditionally, these figures have been published on January 2 over the past four years.
