Stock market news: December 9, 2019 – Yahoo Finance

Stock News

Posted on December 9, 2019

Stocks were lower Monday to kick off a busy week ahead.

Here were the main market moves, as of 11:30 a.m. ET:

S&P 500 (^GSPC): +0.03%, or 1.04 points
Dow (^DJI): -0.19%, or 53.44 points
Nasdaq (^IXIC): -0.01%, or 0.75 points
Crude oil (CL=F): -0.24% to $59.06 per barrel
Gold (GC=F): +0.06% to $1,466 per ounce

U.S.-China trade developments and the Federal Reserve will be the main focal points for investors this week.

Another round of tariffs is set to go into effect Sunday if the U.S. and China cannot agree on terms for a “phase one” trade deal. While the White House says it remains optimistic on getting a preliminary deal done, if none is reached before the deadline, approximately $165 billion worth of Chinese imports will be slapped with 15% tariffs. Most of the goods impacted will be consumer electronics. White House economic advisor Larry Kudlow said Friday that the two feuding sides were close to getting a deal done but that the U.S. also prepared to walk away if the terms were not favorable.

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A street sign is seen near the New York Stock Exchange (NYSE) in New York, U.S.,December 27, 2018. REUTERS/Eduardo Munoz — A street sign is seen near the New York Stock Exchange (NYSE) in New York. REUTERS/Eduardo Munoz

In addition, investors will turn their attention to the Federal Reserve Wednesday when the central bank concludes its last policy-setting meeting of the year.

After cutting interest rates three consecutive times this year, economists broadly expect the Fed to hold rates steady. The Federal Open Market Committee (FOMC) will release an updated dot plot, policy statement, and economic projections. Fed Chair Jay Powell will also deliver a press conference.

“Fed policy is likely to remain unchanged through the end of 2020,” Credit Suisse economist James Sweeney wrote in a note to clients Thursday. “Downside risks remain, but a healthy labor market and strong consumer finances should prevent a more worrisome downturn in growth. Meanwhile, inflation is likely to rise towards the Fed’s 2.0% target by early next year, but we do not expect a sharp move higher.”