📈 Futures Trading Levels 12/14 + 📈 Dow Jones 37,000
- 💹 Dow DJIA rises by 512.30 points (1.4%) to close at 37,090.24.
- 📊 Bigger picture: 531 trading days since the last 1,000-point milestone.
- 🏦 Federal Reserve signals likely pivot to rate cuts in 2024.
- 🔒 Key policy rate remains unchanged at 5.25% to 5.5%, with three projected rate cuts in 2024.
- 🎙️ Fed Chair Jerome Powell emphasizes the focus on avoiding prolonged restrictive rates.
- 📉 S&P 500 index and Nasdaq Composite Index both finish 1.4% higher.
- 📈 Russell 2000 index of small-cap stocks outperforms with a 3.5% increase.
- 🎅 Kathryn Rooney Vera suggests a potential "Santa Claus rally" with positive momentum.
- 🤔 Concerns linger about the rally's sustainability in the next 12 to 18 months.
- 📉 Peter Cardillo credits the rally to the Fed, highlighting rate cuts expected in 2024.
- 🗓️ Fed fund futures traders give a 58% likelihood of the first rate cut in March 2024.
- 📉 Josh Jamner anticipates continued support for the Santa Claus rally despite Powell's caution.
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