Investing.com– The S&P 500 closed lower on Tuesday on the last trading day of the year, but closed out a strong year, with a gain of more than 20%.
At 4:00 pm ET (21:00 GMT), it was down 0.4%, but ended the year up about 23%. They fell about 0.1% and fell 0.9%.
The market is closed on Wednesdays for New Year's Day.
Tesla evens earnings despite gigafactory news
Shares of Tesla (NASDAQ gave up gains to close down 3.2%. Chinese state news agency Xinhua reported that the company's energy storage gigafactory in Shanghai has entered trial production, just seven months after construction began, and full-scale production is expected to begin early next year.
Shares of Boeing (NYSE:) closed slightly lower after heavy losses the previous session, following a devastating plane crash in South Korea that claimed the lives of 179 people on Sunday when a passenger plane crashed in Muan International Airport.
United States Steel Corporation (BVMF:) jumped more than 9% after Nippon Steel made a last-ditch attempt to get approval from President Joe Biden for its $14.9 billion acquisition of the U.S. steelmaker. Nippon Steel offered the US government veto power over any cuts to US Steel's production capacity, The Washington Post reported on Tuesday, citing a document sent to the White House on Monday.
ISM manufacturing activity data will be published
The economic data calendar is virtually empty on Tuesday, ahead of the holiday on Wednesday, and later in the week, investors will examine the Institute of Supply Management's December survey and a weekly report on , ahead of a key report due out. the following week.
Gross profits thanks to Chinese data
Crude oil prices rose on Tuesday, boosted by signs of growth in Chinese manufacturing activity, but are on track to finish lower for the second year in a row due to concerns about demand in major consuming countries.
China's manufacturing sector expanded in December, but at a slower pace than expected, marking its third consecutive month of expansion as a series of new stimulus measures provided support.
The outlook for oil demand depends largely on hopes that China, the world's largest oil importer, can revive its economy, especially as there are concerns about a possible oversupply due to expected increases in oil production. non-OPEC countries.
The benchmark remains on track to lose around 3% in 2024, while the WTI contract remains largely unchanged throughout the year.
Cryptocurrency stocks follow bitcoin higher
Cryptocurrency-related stocks, including Coinbase Global Inc (NASDAQ , Marathon Digital Holdings Inc (NASDAQ and MicroStrategy Incorporated (NASDAQ ) rose sharply, supported by b
(Ayushman Ojha contributed to this article.)
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