US Stocks Waver
Stocks in the US struggled for direction on Wednesday, with the S&P 500 and Nasdaq hovering near the flatline, while the Dow Jones fell about 100 points.
Investors weighed the potential policies of the incoming Trump administration, fresh economic data, and the Federal Reserve's next moves. CNN reported that President-elect Donald Trump is considering declaring a national economic emergency to justify broad tariffs on both allies and adversaries. Meanwhile, Federal Reserve Governor Christopher Waller expressed confidence that inflation would continue cooling toward the 2% target, supporting additional interest rate cuts this year.
On the economic front, the ADP report revealed that private sector employment in December hit its lowest level in four months. Later in the day, traders await the release of the FOMC minutes for further insights. Sector-wise, communication services and health care lagged, while financials managed to remain in positive territory.
Source: Trading Economics
