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Overview: Global Markets in Mixed Mood

Global equity markets saw mixed performance on December 23, 2024. While US indices extended gains on strong technology stock performance, European markets remained flat to slightly positive, and Asia showed optimism after softer US inflation data, despite some weakness in China.

US: Tech Fuels Holiday Gains

The US markets closed higher, with the Dow Jones Industrial Average $DJIA(.DJI)$  rising 0.1% to 42,906.95, the S&P 500 $S&P 500(.SPX)$  up 0.7% to 5,974.07, and the Nasdaq Composite $NASDAQ(.IXIC)$  climbing 0.9%. Technology stocks led the rally, signaling continued investor optimism as the holiday-shortened trading week begins.

Europe: Healthcare Lifts, But Gains Limited

European indices were mixed, with healthcare strength mitigating losses. Germany’s DAX dipped 0.1%, France’s CAC 40 closed flat, and the UK’s FTSE 100 advanced 0.2%. Novo Nordisk’s surge boosted the healthcare sector, keeping broader losses in check.

Asia: Policy Hopes Drive Optimism

Asian markets ended mostly higher after softer US PCE inflation data renewed hopes for monetary easing. Japan's Nikkei 225 gained 1.1%, and Hong Kong’s Hang Seng $HSI(HSI)$  rose 0.8%, driven by improved sentiment. However, the Shanghai Composite fell 0.5% amid concerns over China’s slowing growth.

Outlook and Insights

US Outlook: Strong momentum in technology suggests the market could sustain its upward trajectory, though light trading volumes during the holiday week may increase volatility. Investors will watch for signals on Fed policy in 2025.

Europe Outlook: Continued resilience in the healthcare sector and easing inflation data could provide support, though broader economic concerns remain.

Asia Outlook: Policy easing hopes may drive further gains, though Chinese markets face headwinds from tepid domestic demand and growth challenges.

Conclusion

As the year nears its end, markets are showing mixed but generally optimistic trends, with US tech stocks leading gains. While risks remain, easing inflation and hopes for supportive policies could set a constructive tone heading into 2025.